Secured with SHA-256 Encryption
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Predatory lending laws may give you some ammunition if you are fighting foreclosure. There is a federal predatory lending law, called HOEPA, but many states or municipalities have adopted their own laws.
→ Read MoreMortgage foreclosure is a legal process by which a mortgage holder (called a mortgagee) regains possession of your home after a default. The most common type of default is non-payment.
→ Read MoreWhen landlords lose properties to foreclosure, tenants are often in trouble. Tenants who get evicted have a few remedies against their former landlords including exercising their rights to “quiet enjoyment” of the property.
→ Read MoreOlder homeowners in foreclosure have one advantage that others do not. The Older Americans Act of 1965. The Act created the federal Administration on Aging, which in turn funds state Legal Aid offices to assist older Americans with legal issues, including foreclosure.
→ Read MoreSome people who are facing a potential foreclosure engage in homesharing—renting a room in their home in order to earn income with which to pay the mortgage.
→ Read MoreA “Produce the Note” defense is a way of buying time when you are in foreclosure. It works better in some jurisdictions, but not in all jurisdictions.
→ Read MoreWhile it can vary greatly from state-to-state, once the lender on a first mortgage forecloses on a property, the lender will sell the first mortgage to the highest bidder in a foreclosure auction sale. The sale proceeds will then be used to pay down any real estate taxes that are due. Once the real estate taxes have been paid, if any proceeds are left, the first loan must be paid, and then the second. If the proceeds from the auction are not enough to cover these debts, several things can happen. If the balances in the first and second loans cannot be paid off, both lenders typically have the right to sue the borrower for balances owed, plus interest and other costs.
→ Read MoreForeclosure laws vary from state to state. In some states, a lender may foreclose without going to court (these are called a “power of sale,” “foreclosure by advertisement,” or “trustee sale” states); some require court action (these are often referred to as judicial foreclosure states).
→ Read MoreThe down turned economy has left many Americans facing foreclosure of their home – including New Yorkers. But what does the term “foreclosure” really mean? Our New York legal expert explains what it means, the best way to deal with it, how long you can stay in your home and offers advice on how to beat foreclosure.
→ Read MoreThe length of time you will be allowed to remain in the home after a foreclosure varies from state to state. However, no matter the jurisdiction, legally speaking, you do not have to move out immediately after receiving notification of a foreclosure. You may remain in the home until you receive notification of the sheriff’s sale. The notice will include the date and time of the sale.
→ Read MoreFind the right lawyer for your legal issue.
Secured with SHA-256 Encryption
