Like most businesses, lenders and servicers have the ultimate goal of making money and you can expect that their decisions will be made accordingly. The tactics that lenders often use might surprise you, and most lenders will go out of their way to convince you to deal with them directly in order to preclude their having to deal with a mortgage mitigation attorney. However, even in the foreclosure process, you still have rights, and you should not let your bank ignore them.
Each state has its own laws, and a homeowner always has rights during the foreclosure process. In 2012, many states adopted aggressive consumer protection laws governing foreclosures. This is why having a mortgage mitigation attorney represent you in these negotiations is crucial.
You should begin your research by having a foreclosure lawyer review your original mortgage contract. This is one of the first things a good mortgage mitigation attorney will do when handling your case.
The following is a list of some of your basic rights:
Cure the Delinquency:
All mortgages give you the right to resolve defaults before the foreclosure starts, and even while the process is under way. Most of the loan modification and foreclosure alternative programs available to homeowners today are designed to cure delinquencies and give homeowners a fresh start, hopefully with more favorable mortgage terms.
Be informed:
All borrowers must be kept up to date on the foreclosure process as it happens, even if you do not actually take part in the process. The lender and their staff can carry on without you, but you are officially one of the parties concerned. You should save all notices and communications from your lender and all involved parties. In case the matter turns into a legal dispute, you will have all of the documentation to support your claims.
Loan Modification:
All borrowers are given the right to modify the existing terms of the loan. However, getting the best possible results can be a difficult and confusing process for many homeowners. Simply put, an experienced mortgage mitigation attorney is in the best position to get you the best results possible. Mortgage Relief Project consistently advocates attorney representation for all matters of mortgage mitigation.
Lenders and their lawyers are well aware of your rights, but their goal is to get what they can out of you; even if it means violating your rights. You should never lose sight of the fact that lenders are not interested in helping you unless it makes financial sense for them to do so. Accordingly, you should expect your lender to attempt to negotiate terms to their advantage and that means taking advantage of you! This is your home we are talking about. Don’t take chances when it comes to protecting it! IF YOU ARE A DISTRESSED HOMEOWNER,
SPEAK WITH A MORTGAGE MITIGATION ATTORNEY TODAY!
An experienced mortgage mitigation attorney can protect your rights and interests, and has a vested interest in benefiting from solving your mortgage troubles. An honorable and reputable attorney also has nothing to gain from your losses.