Homeowners get behind on their mortgages for all kinds of reasons. It can happen when a job loss, illness, divorce, or death strikes a family. In other cases, homeowners believe that the lender has made critical errors that adversely affected their mortgage and put their credit in jeopardy. In order to sort through what can become a very complicated process, it may be necessary to contact a foreclosure attorney Houston homeowners recommend.
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.
Lenders must go through a strict set of procedures before and during the process of foreclosing. If they don't follow the legal steps, you may have cause to block the procedure. Not every state has the same laws, so you will probably need a lawyer to sort through the rules and regulations.
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.
If you decide you want to stay in your home until the foreclosure process is completed, you have a right to do so. In certain states with rights of redemption laws, you may be able to live in your home for years before the process is complete. You only need a lawyer in this instance if the lender changes the locks or otherwise prevents you from entering the house.
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.
Lenders must go through a strict set of procedures before and during the process of foreclosing. If they don't follow the legal steps, you may have cause to block the procedure. Not every state has the same laws, so you will probably need a lawyer to sort through the rules and regulations.
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.
If you decide you want to stay in your home until the foreclosure process is completed, you have a right to do so. In certain states with rights of redemption laws, you may be able to live in your home for years before the process is complete. You only need a lawyer in this instance if the lender changes the locks or otherwise prevents you from entering the house.
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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