Foreclosure Defense – More Than A Way To Buy Time
By Jay Fleischman, New York Foreclosure Defense Lawyer on Jul 31, 2008 in Foreclosure Defense
Foreclosure defense is termed a way to “buy time,” according to a recent article in the Miami Herald. In fact, the author claims that a homeowner’s decision to fight foreclosure amounts to not much more than staving off the inevitable. What the article neglects to highlight, however, is the fact that many homeowners have significant rights against the mortgage companies that are pushing through foreclosures at a rapid clip.
Many of these foreclosure actions are brought by securitized trusts, entities that have purchased vast numbers of mortgage loans and sold them off piecemeal to investors. These trusts often obtain incorrect and incomplete information, and then bring foreclosure actions without the proof necessary to show that they are the rightful owners of the mortgages in the first place.
The article quotes a number of attorneys who defend foreclosure cases, noting that they are actively holding mortgage companies to their burden of proof. In addition, it’s important to remember that a number of counterclaims may exist against the mortgage companies. Such counterclaims may ultimately uncover fraud and a failure to follow a variety of consumer protection laws at the state and federal level.
So if you’re faced with foreclosure – as are so many Americans caught in the spiral of our collapsing financial markets – don’t for one moment think that you have no rights. Don’t think that it is inevitable that you lose your home to the big money Wall Street investors who have played fast and loose with the American consumer.
Fight back. You may find out that the smiling banker has been pocketing your hard-earned money without bothering to pay attention to the laws.
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