| When foreclosure happens, many homeowners | | | | foreclosure case or attempting to fight a |
| simply go into hiding for months at a time. A few | | | | foreclosure scam company. If there is no |
| weeks before the property is auctioned off by | | | | reasonable plan to save the home and make |
| the county, they decide to look into options to | | | | payments to the appropriate party, then there is |
| save the home. But by this time, unfortunately, it | | | | little reason to attempt to hold onto it. There are |
| may be far too late, or the only good option | | | | other goals that may be pursued in the courts in |
| presented to the borrowers comes from a | | | | order to fight a wrongful foreclosure or hold a |
| foreclosure rescue scam. In the end, the | | | | scam operation accountable. |
| borrowers lose even more money. | | | | Another reason to bring such a case into court is |
| Thus, it is almost always better to begin fighting | | | | for the homeowners to obtain money they lost |
| foreclosure as early in the process as possible. | | | | due to a breach of some duty or violation of a |
| Even before they have missed a monthly | | | | law by the lender, servicer, or foreclosure rescue |
| payment, homeowners should contact the bank | | | | operation. Money damages may be awarded for |
| and inform it of any pending financial hardship. | | | | such violations, and money and equity lost due to |
| Forbearance plans may be available to lower the | | | | a scam can often be won through a judgment in |
| mortgage bill, while other monthly expenses can | | | | the courts. Numerous courts have awarded |
| also be negotiated down or eliminated completely. | | | | homeowners significant damages from |
| Timing is the most important factor in preventing | | | | foreclosure scams. |
| foreclosure. | | | | Finally, another good reason to resolve foreclosure |
| But for the borrowers who are already in | | | | issues in court is to deter abuse and fraud. |
| foreclosure, the further along in the process it | | | | Companies that take advantage of homeowners |
| gets, the fewer options will be available. A | | | | by providing false or blank documents or changing |
| repayment plan may be feasible if only a few | | | | terms at the last second without the borrowers' |
| payments are missed, but can be too expensive | | | | knowledge should be taken out of business. While |
| otherwise. A loan modification may be an option | | | | the courts are not always the best forum in |
| early in the delinquency, but after numerous | | | | which to hold banks or politically-connected |
| payments have gone delinquent, the chances of | | | | companies accountable, they do offer one more |
| obtaining an affordable plan begin to drop | | | | option for homeowners. |
| dramatically. | | | | It is vitally important for homeowners to keep in |
| Even defending the foreclosure in court presents | | | | mind their goals when they defend a foreclosure |
| problems for the homeowners. What, exactly, are | | | | in court or bring a case against a lender or scam |
| they looking for from the court process? If the | | | | company. Without doing this, they can find |
| goal is to save the home, any defense should | | | | themselves back in a bad situation, agreeing to |
| take into account a reasonable solution to | | | | make payments on a plan that they simply can |
| foreclosure that will give the homeowners an | | | | not afford. This is another reason borrowers |
| affordable payment. Without an affordable | | | | should carefully evaluate their financial situations |
| payment plan, there is little reason to attempt to | | | | before moving ahead with any plan to stop |
| keep the property. | | | | foreclosure. |
| This is the case for homeowners defending a | | | | |