Foreclosure is just a lawsuit brought by the bank to take back your home. You have the right to fight that lawsuit. Banks must take specific steps, in the correct order and with the correct timing, in order to have the right to foreclose. Banks are legally obligated to provide you with certain disclosures prior to the closing. They are limited in the kind and amount of fees they can charge you in certain instances and must have you execute certain federally mandated mortgage documents at closing. The only way to find out if these steps were properly taken is a legal analysis of all closing documents, including the note and mortgage, of subsequent correspondence between the lender and/or mortgage servicer and borrower and of the actual steps taken to begin the litigation. Mortgage banks do their best to hide things from you, so without an experienced foreclosure attorney, you’re probably not going to be able to fight back.

Continue