House & Apartment

You may have a defense to stop a mortgage A loan given by a bank that is used to help someone buy a home foreclosure A forced sale of property when a person doesn't make payments on a loan lawsuit if:

• The party A person or business involved in a court case in a role like plaintiff, petitioner, defendant, respondent, or intervenor. suing you is not the party who holds/owns your loan (standing The right to file a lawsuit or make a particular legal claim based on how the person is affected. );
• Your lender didn't properly evaluate you for available loss mitigation options;
• Your loan is government-insured (FHA, VA, USDA) and the mortgage servicer The company that collects monthly loan payments for a mortgage didn't follow servicing or loss mitigation requirements and regulations;
• You made payments under a trial When the issues of a case are heard in court and decided by a judge or jury period plan, but were never offered a permanent modification;
• Your mortgage company A company that lends someone money to buy a house. The company can take the house if the homeowner cannot repay the loan. wrongfully denied your application for a loan modification;
• You had a loan modification application under review with your mortgage company when the foreclosure case was filed;
• You have your own insurance, and the lender has added an insurance premium to your account (force-placed insurance);
• Your lender failed to respond to a Notice of Error or Request for Information;
• Your lender encouraged you to exaggerate your income on your loan application;
• Your lender did a bait-and-switch of the terms of the loan. For example, at the closing you were informed the loan has a higher interest rate The amount charged for borrowing money than initially promised;
• Your refinance or home equity Amount that is left after a person pays off their loan loan is less than 3 years old and your lender gave you inaccurate or incomplete information about the loan's Annual Percentage Rate (APR). Moreover, they did not tell you the finance charge(s), amount financed, total of payments, or schedule of payments;
• Your broker received an unreasonable lump-sum payment (commission) for brokering the loan;
• A contractor started the loan as part of a home repair contract;
• Your lender has not applied all your payments to your account; or 
• You are purchasing your home on an installment contract or contract for deed A legal paper that transfers ownership of real estate. It is recorded in the local land records. .

You should talk to a lawyer Someone who represents clients in courts or who gives legal advice if one of these situations applies to you.