Foreclosure Defense | Sue Your Lender
As foreclosures continue many homeowners are seeking advice anywhere. Short Sells, Loan Modifications, Walk Away, and self-defense classes. One foreclosure defense move that seems to keep growing in popularity on the “net” is the “produce the note” strategy. While it can be effective in stopping foreclosure the “Free and Clear” aspect should be removed from the equation. At best most foreclosure defense strategies only give you more time to pursue other options.
Depending on the state you live in suing your lender may give you the best results – the most time and the possibility of winning your case. Almost all mortgages from the year 2000 until now were repackaged as mortgage backed securities (MBS’s) and sold to Wall Street investors, where they are traded to other investors. As the loans are broken up and shuffled around, chances are documents, such as the mortgage and promissory note you signed, got lost, misplaced, or warehoused in a location that’s not easily accessible.
With a Sue Your Lender Forensic Audit you can bring your case inside the judicial system by filing your own lawsuit against the lender for various violations of Federal and State predatory lending laws uncovered in your audit. In the course of the legal proceedings, you can absolutely demand that the lender “produce the note.”
Suing your lender is a complicated area of law so it is always best to hire an Attorney and have merit to your case. The strategy you chose will vary depending on whether your home is in foreclosure and if you live in a judicial or non-judicial:
- In Judicial states the lender must file a lawsuit against you to obtain permission to proceed with the foreclosure sale.
- In Non-Judicial states you receive a notice of default or breach from the lender prior to the foreclosure sale and the process occurs outside of the judicial system.
If you believe you were a victim of predatory lending or mortgage fraud, get a Forensic Mortgage Audit and talk with an attorney about the possible legal defenses that apply to your case. Sue Your Lender, A Mortgage Compliance Company, provides you with a robust audit that compares your loan to Federal, State, and Local Laws – GSE compliance and Mortgage Regulatory Standards of Practice.
For more information on how to obtain your Forensic Mortgage Audit call and speak with an Audit Counselor at 1.866.966.6615 or visit us online at www.sueyourlender.net
Listen, all these people who took out mortgages they personally knew they NEVER could afford have absolutely no right to sue the lender; yes, granted some people were abused NO ONE wants to put the blame on the borrower.
By: Settlement Loans on June 9, 2009
at 9:42 am