The loss of a home to foreclosure can be disastrous both emotionally, and financially. Note that foreclosure defense is a complex area of the law, and you are firmly recommended to seek the guidance of a reputable company who deals with foreclosure on a daily basis (United Financial Counselors) and an attorney.
The aim of the foreclosure defense method is to prove that the bank does not have a right to foreclose. The chances of victory rest on our ability to challenge how the mortgage industry operates. The approach aims to take the benefit of the glitches in the system and infers illegal and unethical behavior on the part of lenders.
Foreclosure defense is relatively a new approach that continues to grow alongside the rising tide of foreclosure cases. While some courts accept foreclosure defense arguments, others find them deceptive and hand down decisions usually lean more to benefit the banks rather than to benefit the homeowners.
A major approach of foreclosure defense is to prove a bank substantiates clear chains of title for a mortgage and a promissory note. If any link in either chain is questionable, it can nullify a lender’s ability to make a valid claim on property.
The foreclosure process varies somewhat from state to state, depending on whether your state uses mortgages or deeds of trust for the purchase of real property.
If you have signed a mortgage, it normally means you reside in a state that conducts judicial foreclosures, meaning that a lender has to sue in court in order to get a judgment to foreclose. If you signed a deed of trust, you live in a state that conducts non-judicial foreclosures, which means that a lender does not have to go to court to initiate a foreclosure action. For more information, or if you are in need of foreclosure defense, please contact United Financial Counselors today!