Foreclosure Rights For Homeowners

Foreclosure rights for homeowners can be a tricky subject. Many homeowners are not clear on how foreclosure works in their state. It can be particularly confusing due to differences between judicial and nonjudicial foreclosure proceedings. State laws and federal lending laws may also affect how a foreclosure goes forward.

In order to sue a homeowner for foreclosure and get a judgment against them, the lender must prove three things in its case:

1. There is a valid mortgage between the lender and borrowers
2. The homeowners are in default of the mortgage contract
3. Foreclosure procedures have been followed according to the law




If the bank does not follow the foreclosure procedures for notice or court requirements, even a sheriff sale may later be voided.

When homeowners file bankruptcy to stop foreclosure or delay a sale, they don't give up substantive or procedural defenses to the bank's attempts to take their home.

In many cases, the mortgage company does not strictly follow the pre-foreclosure procedures dictated by state and local laws. In these cases, courts have found that strict compliance is necessary for a foreclosure to go forward. Foreclosure is such a harsh remedy to the problem that these strict requirements are necessary for lenders to follow.

If a lender accepts late payments from a homeowner, it may be waiving its right to accelerate the mortgage later on in the case of default.

As you can see, the whole process is complicated and confusing. Foreclosure rights for homeowners is a subject not many common people can fully understand. You need someone to help you navigate through the process of trying to save your home from foreclosure. But attorneys are so expensive!

Not necessarily. Legal Shield plans have a low monthly fee. Their members can access legal help when they need it. Sound good? I think so.

If you need help with a foreclosure, visit Me Today!