Foreclosure Defense

Foreclosure basics

Almost all mortgages in the state of Florida have the right of "reinstatement.” Meaning, if at any time during the foreclosure litigation process the borrower is able to make the late payments or can make a deal with the bank to cure the arrearages or late payments, legally the bank must dismiss the foreclosure action. Many people feel very overwhelmed or confused when they get sued for foreclosure. They often walk away from their home, not knowing that by hiring an attorney and fighting this action it is very possible to save the house, even without filing bankruptcy.

Facing foreclosure? Get help now!

When you are served with foreclosure papers, the stakes are high. You face the loss of your most significant asset, your home. But the stakes also include your right to defend your home ownership. And you must engage in prompt action to defend your right. Florida gives you 20 days to respond to your lender's foreclosure papers. You must file a formal legal response with the court within 20 days or you waive your right to fight to keep your home.

We regret the mistake made by homeowners who do not consult experienced attorneys and walk away from their homes when foreclosure papers arrive. They do not know that an attorney can make it possible to fight back and stay in their house.

Ruhl Law's attorneys are eager to fight for your right to keep your home. Our experience includes understanding the emotional and financial toll taken on homeowners who face foreclosure. We explore and exploit every legal opportunity to help you avoid foreclosure and to lay the best groundwork for a brighter financial future.

How a mortgage loan audit can help stop your foreclosure

An audit provides you with a complete analysis of your mortgage loan documents that highlights potential deficiencies, discrepancies, errors, and statutory violations, non-disclosure violations, accounting errors, predatory lending practices, or outright fraud. A mortgage loan audit can reveal facts that provide invaluable leverage with which you can negotiate a favorable outcome with your lender. It is also possible for an audit to turn the negotiation completely around to your favor.

Until recently, lenders have successfully kept these practices out of the public eye and have ridden roughshod over homeowners’ rights. However, all lenders are required to operate under specific legal rules, regulations and procedures when making and processing loans.

Before you walk away from your home, or sign off on a loan modification, you should know that more than 80 percent of audited home loans contain violations, errors or omissions.

Remember, evidence of a single violation may be enough to stop your foreclosure. With the proof from an audit in our hands, we can aggressively fight your foreclosure in court.

Ruhl Law will perform an audit of your loan, looking for violations of state and federal fair lending laws, including:

How would you know if your original loan was made in compliance with federal and state lending laws? If there are errors or violations in your loan documents, the audit team at Ruhl Law will find them.

To get an audit of your mortgage loan, call us today at 888-808-9618 or email us at rick@ruhllawgroup.com.

What about predatory lending practices?

Predatory lending is unfortunately quite common, as are Truth in Lending Act violations. In fact, according to the National Fair Housing Alliance, over 50 percent of borrowers who received high-cost subprime loans could have qualified for lower cost prime loans.

Study after study of the mortgage industry has reached the same conclusion: abusive loan terms lead to foreclosure. It is readily apparent that predatory loan terms are directly harmful to subprime home borrowers. Predatory lending is characterized by a number of specific practices, including:

If you are a distressed homeowner, a mortgage loan audit can be the first step toward discovering a clear menu of alternatives and strategies for a credible fight against a predatory lender

Consider loan modification

Loan modifications are designed for homeowners who cannot afford repayment plans. In a modification, the lender actually halts the foreclosure process and adjusts the terms of the loan to make it affordable. It may lengthen the amortization schedule or lower the interest rate to cut the monthly payments, or roll the past due amount into the loan and re-amortize the new balance so the borrower can pay the additional debt back over time.

However, homeowners attempting loan modifications also face difficulties. Fewer than half of all loan modifications made at the end of 2009 actually reduced borrowers’ payments by more than ten percent. In fact, nearly one in four loan modifications in the fourth quarter actually resulted in increased monthly payments. So it seems even when the banks say they will do a modification, they still wind up taking advantage of homeowners.

Bring your problems to Ruhl Law

Simple cases, complex cases, and every matter between the extremes meet with legal knowledge, experience, and dedication to your rights at the law offices of Ruhl Law. We welcome you to our Southwest Florida offices. Call (888) 443-1669. Or begin our consultation with a visit to our contact page. Find your most convenient Ruhl Law office on our Maps and Directions page.