What Should You Know About Foreclosure Defense?

Homeowners may face foreclosure for a number of reasons. If you are facing foreclosure, it pays to do your homework to learn about foreclosure defense, as well as protect yourself and family from foreclosure scams.

Foreclosure occurs when the mortgage goes unpaid and the lender takes possession to sell the home.

There are a number of reasons why homeowners can’t make a mortgage payment – a lost job, unexpected medical bills, natural disaster, or other tragedy.

If you are worried about making your mortgage payment, learn about what to do before you’ve missed that payment that may help you avoid foreclosure.

Keep in mind that a reliable foreclosure attorney can help you determine the best path and avoid foreclosure scams.

If you are a homeowner concerned about foreclosure, contact the experienced foreclosure defense attorneys at McDonald Worley to help evaluate your situation.

Avoiding Foreclosure

Homeowners who anticipate having trouble paying their mortgage, should contact their lender sooner, rather than after missing several payments.

Before contacting your lender, be sure to gather information about your home loan, specifically the type of mortgage you have, and under what circumstances the lender will initiate foreclosure proceedings.

If you are already behind on your payments, it is all the more important to call your lender. If you wait, you may miss options that allow you to lower your payment and stay in your home. These calls can be nerve wracking and tedious, but be patient and persistent.

Some programs for homeowners having trouble with their mortgage payments include:

• The Making Home Affordable Modification Program
• The Hardest Hit Fund
• Mortgage Reinstatement
• Forbearance
• Repayment Plan Modification
• Mortgage Modification
• Short Sale
• Deed-in-Lieu of Foreclosure

There are also a number of foreclosure defenses that may be able to help you fight foreclosure proceedings. You may be aware that your lender has not followed the terms of the mortgage contract or they may have made an error with regard to foreclosure proceedings. An experienced attorney can help you establish a foreclosure defense to help save your home.

Common foreclosure defenses include:

• Bankruptcy
• Demonstrating that the lender violated state or federal laws with regard to the mortgage or initiating foreclosure proceedings
• Violations of the Truth in Lending Act
• The Servicemembers Civil Relief Act, for those in the armed services called away

Foreclosure Scams

Sadly, there have been numerous scams reported by homeowners who fell victim to foreclosure scams. Homeowners should always proceed with caution when looking for foreclosure assistance.

There are many free resources when it comes to foreclosure assistance. While an experienced attorney can help you determine the best path and evaluate any foreclosure defenses, you should never feel pressured to sign paperwork you haven’t reviewed.

You should also be concerned about a scam if a foreclosure company makes a low-ball cash offer on your home, or offers money back guarantees.

If you are looking for help with your mortgage, you should also be suspicious of those who require cashier’s checks or wire transfers for payments.

If you are concerned about a foreclosure scam, you can contact the Federal Trade Commission.

Foreclosure Defense Attorneys

Millions of people have had to foreclose on their homes; however, homeowners have been fighting back against lenders and banks who have been found to have made mistakes or even violated the law.

An experienced foreclosure defense attorney can help evaluate your situation and give you the best chance of staying in your home.

If you are a homeowner concerned about foreclosure, contact the experienced foreclosure defense attorneys at McDonald Worley to help evaluate your situation.