Save Your Home! 4 Possible Foreclosure Defenses

Getting behind on your mortgage is something that should be avoided at all costs. Just about everyone, however, will experience financial challenges at some point in their life, and in some situations, it becomes impossible to keep up with your payments. If this has happened to you, and you are now facing foreclosure, you don’t have to give up hope! While decades ago there were very few effective foreclosure defenses possible, that has really changed thanks to new laws and regulations. Consider the following potential foreclosure defenses to see if any of them might apply to you.

Failure to Follow State Procedures

The state of Florida has a variety of different procedures in place regarding how foreclosures must be handled by mortgage companies. While one would think that a mortgage company would be careful to always follow these requirements, that doesn’t happen in a surprising number of situations. This is because most mortgage companies today are large national institutions, so they may overlook state laws. If you’re facing foreclosure, call Costa Law, PL to discuss potential options and go over all the requirements that Florida has.

Mortgage Company Can’t Prove They Own the Loan

This is another surprising option that many people don’t consider. While it isn’t a valid option in most situations, it is absolutely worth looking into. Mortgage companies, investors, and financial institutions buy and sell mortgages all the time. While most of the time all the legal paperwork is handled properly and without issue, things do occasionally fall through the cracks. If you demand that the mortgage company that is foreclosing on you produce the note that proves they are the legal owner of the mortgage, you may be able to stop the process. If they can’t find or produce the legal proof, the whole process may be halted, giving you time to get your finances in order.

You Are on Active Duty in the Military

If you or your spouse is an active duty service member, you have a variety of special protections thanks to the Servicemembers Civil Relief Act (SCRA). The specific protections that apply to you will vary based on when you got the mortgage and other factors. Reviewing this law and your situation with an attorney is the best way to see if it will apply here.

Loan Modifications

There are many different programs available to help people who have fallen behind on their mortgage payment. One popular option is a mortgage modification. If you have a modification in place and you are making payments according to that modification, the foreclosure process should be stopped.

Talk to an Attorney 

Talking with an attorney is the best way to determine how to stop a foreclosure. Your attorney may use one of the above mentioned strategies, or another one might be more appropriate. Foreclosure attorneys deal with these types of situations every day and can help you to find the right solution to your situation. Please contact us to schedule a consultation and get started fighting your foreclosure.

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