A home is a huge investment for most people. Sometimes illness, job loss and divorce can cause a homeowner to get behind on payments. Occasionally, some become victims of lender errors or malpractice that threatens ownership of their houses. Foreclosures can occur even when homeowners are current on their payments. If you suspect something like this is happening to you, contacting a foreclosure attorney Houston homeowners recommend is important.
Loan servicers are not perfect. Payments get credited to the wrong accounts and sometimes get into a completely unrelated company account. Servicers sometimes charge excessive late fees or try to force homeowners to pay fees that are not allowed by law. It is critical that you, as the homeowner, keep every bit of paperwork that pertains to your account. Hiring an experienced lawyer familiar with the servicer's history may prevent the lender from foreclosing.
When lenders do begin foreclosing on properties, there are procedures they must follow. If they fail to do so in a significant way, you may have a case. The procedural laws vary from state to state, and it will take a good lawyer to trace the steps in order to determine if the servicer made serious errors.
Mortgage loans are sometimes sold in bundles to other lenders, who might then turn around and sell them to another institution. In the process, a lender might begin foreclosure proceedings on properties they no longer own. If you believe you are the victim of this kind of error, you need to contact a lawyer to make the lender prove ownership of your loan.
Those in the military have special protection against foreclosure actions. If the home loan was taken out before the homeowner went on active duty, the servicer can't begin foreclosing without a court order. Your lawyer can explain how the Servicemembers Civil Relief Act works and how it protects the military and their families.
Getting a loan modification is one way delinquent homeowners try to forestall foreclosures. If you have applied for a modification, and the lender is processing it, the foreclosure process must be stopped until a decision is made. Until a few years ago, a lender was allowed to consider the loan modification and continue foreclosing at the same time. This is not true today.
A lot of delinquent homeowners believe once the lender starts foreclosing, they have to leave the property. This is incorrect. Until the foreclosure proceedings are officially completed, the home is still yours. If you want to live there, you can. In some states, the rights of redemption laws make it possible for homeowners to live in foreclosed homes for years. You probably don't need a lawyer in this instance unless the lender attempts to remove you or changes the locks.
Losing a home is a difficult experience no matter what the actual cause. If you have been wrongly targeted by a lender, you need to do something about it. You probably can't handle the complexities however, without the help of a good lawyer.
Loan servicers are not perfect. Payments get credited to the wrong accounts and sometimes get into a completely unrelated company account. Servicers sometimes charge excessive late fees or try to force homeowners to pay fees that are not allowed by law. It is critical that you, as the homeowner, keep every bit of paperwork that pertains to your account. Hiring an experienced lawyer familiar with the servicer's history may prevent the lender from foreclosing.
When lenders do begin foreclosing on properties, there are procedures they must follow. If they fail to do so in a significant way, you may have a case. The procedural laws vary from state to state, and it will take a good lawyer to trace the steps in order to determine if the servicer made serious errors.
Mortgage loans are sometimes sold in bundles to other lenders, who might then turn around and sell them to another institution. In the process, a lender might begin foreclosure proceedings on properties they no longer own. If you believe you are the victim of this kind of error, you need to contact a lawyer to make the lender prove ownership of your loan.
Those in the military have special protection against foreclosure actions. If the home loan was taken out before the homeowner went on active duty, the servicer can't begin foreclosing without a court order. Your lawyer can explain how the Servicemembers Civil Relief Act works and how it protects the military and their families.
Getting a loan modification is one way delinquent homeowners try to forestall foreclosures. If you have applied for a modification, and the lender is processing it, the foreclosure process must be stopped until a decision is made. Until a few years ago, a lender was allowed to consider the loan modification and continue foreclosing at the same time. This is not true today.
A lot of delinquent homeowners believe once the lender starts foreclosing, they have to leave the property. This is incorrect. Until the foreclosure proceedings are officially completed, the home is still yours. If you want to live there, you can. In some states, the rights of redemption laws make it possible for homeowners to live in foreclosed homes for years. You probably don't need a lawyer in this instance unless the lender attempts to remove you or changes the locks.
Losing a home is a difficult experience no matter what the actual cause. If you have been wrongly targeted by a lender, you need to do something about it. You probably can't handle the complexities however, without the help of a good lawyer.
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