Foreclosure Legal Defense Arguments

July 14th, 2009

There are some foreclosure legal defense arguments that can help you delay foreclosure, prevent foreclosure or stop home foreclosure altogether. If you think you have found foreclosure legal defense arguments, you should contact a foreclosure lawyer immediately to investigate the foreclosure legal defense arguments further. Below are some foreclosure legal defense arguments you may be able to use to prevent foreclosure.

Mortgage company fails to follow foreclosure procedures

Even homeowners in foreclosure have rights. Each state has different requirements and laws that mortgage companies have to follow when they want to foreclose on homes. Notices of foreclosure, for example, are required to be in certain publications for a certain amount of time. Proper procedures need to be followed before the mortgage companies can proceed with foreclosure.

Illegal Interest rates

The federal and state laws have strict rules on the interest rates a loan can have. Some states limit how much interest you can be charged on a loan.

Cancelling home improvement loan

Sometimes, homeowners take out the second mortgage or the third mortgage or home equity loan for home improvement to increase the value of their home. Unfortunately the contractor for home improvement rips him or her off or did very bad job. This can constitute home improvement fraud and you may be entitled to cancel your home improvement mortgage loan.

Truth in Lending Law violation

The Truth in Lending Law is a very important law in real estate and mortgage lending. The Truth in Lending Law is a federal law that requires all mortgage and loan companies to provide borrowers with required information before the loan application is signed. The Truth in Lending Law discloses everything. If you were never provided with the Truth in Lending disclosure, then you loan could be deemed invalid.