It is possible to fight a foreclosure. Nothing is set in stone, and your foreclosure does not need to proceed as planned. Lenders and real estate officials make mistakes, and there is no need for you to be at the mercy of a foreclosure of your home or business without fighting first.
Because of the fraudulent behavior that has occurred in the real estate industry recently, it is now possible to gain the sympathy of the court and present a convincing case against foreclosure of your home. With the help of a foreclosure defense attorney, you can prepare a case that has a solid legal background and fights for your justice in the suit brought against you.
It is becoming commonplace for foreclosures to be challenged whether they are for personal property or a business location. There are protections in place to prevent homeowner fraud, and you may be the victim of a poor lender practices or devious behavior by a lender.
In Puerto Rico, the foreclosure process includes a 20 notice to become current on the defaulted payment. With the help of a foreclosure defense attorney, you may not be liable for these charges if hardship occurred or the lender made an error in processing.
If you have defaulted on your payment, a foreclosure attorney can also help you request additional time for payment. While most foreclosure payments head to court after the 20-day notice has been served, it is not absolute in its terms, and you may be given the time you need to get current with your mortgage payment.
When your foreclosure does head to court, a foreclosure defense attorney can fight for you. You have the right to object the motion to pay the amount due. This can often include court costs and attorney fees in addition to your mortgage amount owed, making it seemingly impossible to get current with your lender. You need a foreclosure defense attorney to put together the best solution to fighting the claims against you, so you do not lose your home or business as a result.
There is no buy back redemption period in Puerto Rico. Once a home goes into full foreclosure, it is very hard to bring it back. If the property is sold at auction, Puerto Rico doesn’t allow for owners to buy it back during a redemptions period. The sale is considered final, and you will lose your home or business for good. This is just another reason that you need a foreclosure defense attorney on your side to fight for your rights when your home or business gets slated for foreclosure.
Even if your home goes into foreclosure, it does not mean this is the end of your financial worries. If your home is sold for less than is owed on the loan, you are liable for the remaining balance. This deficiency balance can include foreclosure fees and costs, making it easily possible that you will still owe money to the lender even after you have lost your home or business.
It is imperative that you understand your rights when it comes to surmounting a foreclosure defense. If a deficiency judgment is placed against you, this can affect your ability to live. It can include wage garnishments or the taking of your savings, leaving nothing to live on. These aggressive measures can be avoided with the assistance of a foreclosure attorney. They can work to defend your case against foreclosure and give you the additional time and assistance you need to settle your debt.
In some instances, foreclosure of your home or business can be stopped and allow you to continue living or operating on the property without fear that you will lose it. You may be eligible for loan modifications that may make it easier for you to pay your mortgage. Many property owners are victims of high-cost loans and have legal rights to resolve foreclosure.
Your foreclosure attorney can help you understand the steps you need to take to keep your home or business. They can walk you through the process of arguing your case and filing the necessary forms for compliance.
Do not stand by idly and let your home or business be taken from you. You have rights when it comes to foreclosure. If you are going through foreclosure of your home or business, it is not too late to get help. Contact a Puerto Rico foreclosure defense attorney to help you understand what you legal rights are and guide you through the process to help put an end to your financial worries.