You Can Use the Law To Keep Your Home
Too many Americans are losing their homes do to mortgage default. There has been a steady rise in foreclosure over the past several years and it does not look like it is going to get any better any time soon.
Homeowners need to learn what tools are available to them to stop or avoid the foreclosure process all together. There are a number of ways this can be done. But all techniques are not created equal in the eyes of the law.
Of all the tools available to the homeowner, the very best one is the law. When used properly the law can put a stop to the home foreclosure process. However, if it is used all, this is usually the last tool ever used. It is understandable, because the law can be very intimidating and foreboding.
However, the law is usually friendly if you know it. The key to success is in studying and applying the law. It is not necessary to rely solely on the expertise of an attorney to defend your home.
Many homeowners are the victims of fraudulent lending practices. These practices are not random isolated incidences, but rather are widespread and rampant throughout the lending community. A knowledge of the law can help you identify if you are a victim of predatory lending practices.
Fraud will invalidate any contract. Anything the lender does that could cause you to take a different course of action and does not disclose it or his intentions to you could be fraudulent behavior on the part of the lending institution.
Nearly all contracts are sold before or shortly after they are signed. Were you made aware of this before you signed? Would it have made a difference? Did you know the contract had been reassigned? Did you approve of it? Did you know all parties of a contract have to approve any changes to the instrument? Did you know a reassignment of the contract is a change?
An error of as little as thirty-five dollars in the mortgage contract can be enough to void the contract. Know what is in your contract and know what the law says is suppose to be in your contract. If they do not match you may have a valid claim.
There are many ways a contract can be voided. Do you know them?
Learn about the Truth and Lending Act and your local state laws, then apply them to stop the foreclosure process cold. There are federal laws available for your protection, but you have to know them and then you have to use them.
The whole process could be as simple as demanding the lender produce the original mortgage. That would be the very instrument you signed when you bought your home. In many instances the original contract cannot be produced.
The very best tool available to you is the law. But only if you know how and are willing to apply it.
Do your diligent research at the local law library or on the Internet and then use the law to save your home from the foreclosure process.
