Forclosure Defenses

My house is being foreclosed, what can I do?

If you have not paid on your house and are in foreclosure, there may be hope.

The banks generally don’t want your home; they want your money.

The problem is that they are not sure that you are going to pay. You might want to pay but circumstances are beyond your ability to pay.

There are a few options, first of which is HAMP or the Modification Program. These programs seem to be designed to help consumers if the consumers can make it through all of the delays, the claims of missing paperwork, claims of out-of-date paperwork and claims that you have to re-file because some arbitrary deadline was passed.

It is an unpleasant process but nearly all of my clients who were in foreclosure since these programs began were able to keep their homes for the time-being.

While there are claims that the mortgage companies cannot foreclose because some papers got lost or a “robo-signer” signed their affidavit, most of these defenses are merely stalling tactics which the creditor generally fixes with enough time.

The idea is to stall long enough until you are able to make a settlement with the creditor to keep the house.