Receiving a foreclosure notice can be a terrifying experience, but it’s crucial to understand that immediate action can significantly alter the outcome. Instead of contacting the bank, which might seem like the most intuitive first step, challenging the bank’s claim through legal channels should be your priority. Here’s why and how.
The Clock is Ticking
The moment you receive a foreclosure notice, the clock starts ticking. Legal proceedings have timelines, and your rights to defend your home are no exception. Acting swiftly to challenge the bank’s note is not just advisable; it’s imperative.
Ignoring a foreclosure notice or choosing not to defend against it can lead to dire consequences beyond losing your home. You could face a deficiency judgment, requiring you to pay the difference between the debt owed and the property’s sale price, or even additional income taxes on the forgiven debt amount.
Why Not Contact the Bank?
While reaching out to your bank might seem like a direct approach to resolve the issue, once the foreclosure has been filed, contacting the lender to resolve the issue is NOT a good idea — in fact its comparable to asking an opponent in a chess game what move you should make. Your response to the Summons MUST be filed with the Court instead, and if you do not know how to litigate yourself, to have a good outcome you must get a knowledgeable attorney who knows foreclosure defense to help you.
The Power of Legal Defense
Choosing an experienced foreclosure defense attorney is crucial. Their expertise in navigating the complex legal landscape can make the difference between losing your home and finding a solution that allows you to stay in your home.
A foreclosure defense attorney or law office, like the Law Office of Mark Schleben brings more to the table than just legal advice. They possess the knowledge and strategies to challenge the foreclosure on legal grounds. This can include questioning the bank’s right to foreclose, the proper assignment of the mortgage note, and whether all pre-foreclosure actions were correctly taken.
The Legal Loopholes
Remember, as a defendant in a foreclosure case, you have rights. This includes the right to obtain information and documents from the plaintiff (the bank or lender) to aid in your defense. Banks and lenders must adhere to strict legal requirements throughout the foreclosure process. From proving their right to foreclose to ensuring all procedural steps are correctly followed, there are numerous potential pitfalls in their path. A skilled attorney can identify these and use them to your advantage.
Take Action Now
If you’re facing foreclosure, the time to act is now. Consulting with a foreclosure defense attorney can provide you with a clear understanding of your options and the best path forward. Remember, in legal matters, time is of the essence, and the right defense can change everything.
