WHAT ARE YOUR GOALS?

The first question you must answer in defending a foreclosure action is: ―What is my goal?‖ This is an important question because how you proceed depends on what you want to get out of putting up a fight. For example, you could be defending foreclosure because you felt you were taken advantage of by a lender when you obtained the loan, or feel the lender is incorrectly foreclosing on the property. Others might have put their life savings into buying the property and wish not to see their savings disappear. Yet others might be looking for a way to prolong the foreclosure process while they look for alternative housing arrangements. Some might be considering bankruptcy, but want to postpone that decision until the time is necessary. Each situation will dictate different goals in defending foreclosure. Deciding on goals are important because someone looking to work-out their loan with a lender might not want to put up a vigorous foreclosure defense if it means the lender will be adding greater attorneys fees, interest, and costs to their loan. These homeowners might want to just prolong the foreclosure long enough to avoid a sale and save the house. Others might want to drag out the foreclosure process as long as possible, at all costs. They may not be as worried about the costs they incur, instead focusing on staying in the home long enough to make other arrangements.
Some of the defenses will take some time to employ, like calculating whether your mortgage loan violates TILA. However, the benefit of having a TILA violation cannot be understated. If the finance charge is only $35 understated, the entire loan is unraveled and the homeowner walks away with every penny put into the loan. Imagine not only walking away from the foreclosure with no liability, but also having no negative mark on your credit and a check for tens of thousands of dollars. It is well worth investing a couple hours in reviewing the TILA chapters carefully. Raising the defenses will likely cost lenders considerable sums to fight - which might mean greater end costs for the borrower if your state permits the lender to obtain attorneys fees. Keep in mind that the courts do not like when homeowners frivolously fight a foreclosure (or defend any action frivolously, for that matter) just to rack up a lender‘s costs. However, employing defenses due to bona fide wrongs is more than a valid reason to defend a foreclosure action – it is a constitutional right. we have a service that can Help ,Answer Summons and Compliant,Servicer Call 518-768-1593