Let Us Help You Save Your Home
Foreclosure is, unfortunately, a common occurrence. It can be surprisingly easy to fall behind on your mortgage payments, especially if you've experienced a financial pitfall, such as losing your job. What's worse, the lender who originally backed your purchase might be sending you letters threatening to take away your home. If you're under threat of foreclosure, let us help.
Our skilled Chicago real estate attorney has the knowledge it takes to assist you in defending your home. In previous decades, successful defenses against foreclosure were relatively rare, but more homeowners than ever are successfully challenging foreclosures.
To get started on your case, call us at (847) 791-2294 or fill out our online formtoday!
In order to defend yourself against foreclosure, you must go before a judge to argue your case. In Illinois, all foreclosures go through court, which means you will be able to defend yourself before the foreclosure goes through. With a skilled foreclosure defense attorney on your side, you may be able to make one of the following arguments.
Terms of the Mortgage Are Unconscionable
In some cases, the terms of a person's mortgage are so unfair they can shock the conscience of the judge. An attorney can argue for unfairness based on a branch of law called “equity,” which focuses on fairness in situations where a legal statute doesn't provide adequate relief. For example, in some cases, if a person didn't speak much English and was pressured to agree to a loan he or she couldn't possibly repay, those terms would be unfair.
Service member on Active Duty
If you're on active military duty, you are protected under the Service members Civil Relief Act (SCRA), which prevents you from being sued while in active military service of your country and for up to a year after active duty. Likewise, if your foreclosure is initiated while you're on active duty, you can postpone the proceeding by requesting it from the court in writing.
Foreclosing Party Didn't Follow Procedures
If the foreclosing party doesn't follow state procedural requirements for bringing a foreclosing action, you might be able to challenge the foreclosure. For example, foreclosing parties are required to serve you with a notice of default; if they fail to do this, they haven't followed state law. Typically, more serious violations will get a more serious response from the court. If you're unsure whether or not a state law has been violated, it's best to discuss your situation with a lawyer.
Foreclosing Party Can't Prove It Owns the Mortgage
In some cases, the original holder of the mortgage might sell the loan to another party, such as another bank, lender, or investor. If the current owner of the mortgage doesn't have the paperwork to prove he or she legally owns the mortgage, he or she can't take action against you.
Mortgage Servicer Made a Serious Error
Errors in claims submitted by mortgage owners are prone to mistakes. According to one study, out of 1,700 Chapter 13 bankruptcy cases, a majority of the claims had errors. If a mortgage servicer makes mistakes on your mortgage, you might be able to challenge the foreclosure.
Serious errors include the following:
- Crediting payments to the wrong party
- Imposing excessive fees
- Imposing fees not authorized by the lender or owner
- Substantially overstating the amount you must pay to reinstate your mortgage
Original Lender Engaged in Unfair Lending Practices
If the original lender of the mortgage engaged in illegal lending practices that violated federal or state law, you might be able to fight your foreclosure under these grounds. Two federal laws protect people against unfair lending practices, including the Truth in Lending Act (TILA) and an amendment to TILA called the Home Ownership and Equity Protection Act (HOEPA).
Discuss Your Case with Our Attorney Today
If you're unsure if any of these defenses can apply to your situation, let us help. Our skilled Chicago real estate lawyers can take a look at your circumstances, examine the details of your case, and offer you sound legal advice about your best course of action. Ahmad Law Firm is available to take your calls 24 hours a day, 7 days a week. Let us see what we can do for you.