Trouble Directory
State Laws
Stop Home Foreclosures – Foreclosure Lawyers

Debt & Bankruptcy Sponsors

Home foreclosures are nothing new. More than 2.5 million homes have been lost to bank and lender foreclosure since the recession began in the last part of 2007. What is new however, is the number of major banks and mortgage companies that have violated the law and consumer rights in favor of expediency and profit. To determine their legal rights homeowners are seeking the advice and counsel of foreclosure lawyers.

Noncompliance with bank foreclosure processing of homes has been so widespread most banks have ordered a halt to all foreclosure sales until a full legal review of their foreclosure practices can be reviewed. In the meantime, the number of bank owned properties keep reaching new highs. According to Realty Track, September 2010 was the highest monthly foreclosure rate in a century with over 100,000 new bank owned foreclosures in a single month.

Illegal Foreclosures – Defective Processing Of Foreclosure Documents

In order to legally foreclose on a home the bank must strictly comply with state laws and local guidelines most of which vary significantly from state to state. All major banks and lenders are required to know and comply with their state’s foreclosure laws including legal document compliance prior to the sale a property.

Since home foreclosure has been widely discouraged and frowned upon as a matter of public and judicial policy, the courts have required that mortgage lenders be in full legal compliance in their home foreclosure process. What does this mean? It means for example, if state law requires that all bank and mortgage lenders notarize all key documents in the foreclosure packages and specifically identifies the documents to be so notarized, then that is what has to be done. Failing to comply with the states foreclosure laws can and often does legally invalidate the foreclosure.

Illegal Foreclosures - Noncompliance With State Foreclosure Laws And Procedures

The law requires nothing short of strict compliance when it comes to reviewing and certifying that the foreclosure documents are in legal order. And it is right and good that they do. After all, we are talking about the legal right of a financial institution to forcibly eject people from their homes. In the past, improperly processed home foreclosures would invite the occasional homeowner lawsuit. However, given the current foreclosure crisis, for lenders to flagrantly ignore state and local foreclosure laws and compliance requirement is to invalidate literally hundreds of thousands of foreclosed homeowners, many of whom have already been displaced from their homes.

Law Firms Representing Foreclosed Homeowners – Foreclosure Lawsuits

Major banks and mortgage lenders under oath have admitted to approving and executing thousands of foreclosure documents without reading or verifying them. Actions that under state law legally invalidate the foreclosure and which give rise to bank and lender civil and even possibly criminal liability.

In the final analysis mortgage companies and banks will probably be forced into settling legal claims with hundreds-of-thousands of homeowners for having used flawed foreclosure documents and for failing to legally review critical legal documents before approving them for foreclosure.

Accordingly, it is expected that a series of homeowner class action lawsuits will be filed in federal district court on behalf of homeowners who were unlawfully foreclosed upon - irrespective of whether the foreclosure was otherwise contractually justified. It is likely, at least for the more serious foreclosure lawsuits, that other homeowner will opt-out of the class action and instead opt in for retaining their own foreclosure lawyers to pursue their specific foreclosure claims. It is also likely that banks will be subject to financial penalties imposed by both federal and state governments.

Consulting With A Foreclosure Lawyers

Most experienced foreclosure lawyers will be willing to evaluate your mortgage documents including your original loan documents to identify misfeasance or fraud and to identify all potential violations of state and federal laws. Once this is completed your foreclosure lawyer will be able to advise you on whether you will be able to stop the foreclosure and how best to proceed next

For additional information on the foreclosure process and to find local foreclosure lawyers near you, visit GotTrouble.com.
    

Debt & Bankruptcy Sponsors
Services To Consider
Locate a local
Credit Counselor:
GotTrouble Debt & Bankruptcy Videos
   
 
Document Center
  

Affordable & Professional

Select a document type from the list below. Most documents are prepared within just 48 hours.

  Search Local Help & Info
What:  
Where:
  Browse by state
 » All Local Guides
 » Alabama
 » Alaska
 » Arizona
 » Arkansas
 » California
 » Colorado
 » Connecticut
 » DC
 » Delaware
 » Florida
 » Georgia
 » Hawaii
 » Idaho
 » Illinois
 » Indiana
 » Iowa
 » Kansas
 » Kentucky
 » Louisiana
 » Maine
 » Maryland
 » Massachusetts
 » Michigan
 » Minnesota
 » Mississippi
 » Missouri
 » Montana
 » Nebraska
 » Nevada
 » New Hampshire
 » New Jersey
 » New Mexico
 » New York
 » North Carolina
 » North Dakota
 » Ohio
 » Oklahoma
 » Oregon
 » Pennsylvania
 » Rhode Island
 » South Carolina
 » South Dakota
 » Tennessee
 » Texas
 » Utah
 » Vermont
 » Virginia
 » Washington
 » West Virginia
 » Wisconsin
 » Wyoming
Local Guides
 Consumer Rights
 Criminal Law
 Debt & Bankruptcy
 Employment
 Immigration
 Marriage & Family
 Personal Injury
 Probate & Estate
 Renting & Housing
 Small Business
 Tax
 Personal Troubles
In partnership with JustGive.org, GotTrouble facilitates charitable contributions to nonprofit organizations that can serve a positive social interest while being innovative in their organizations practices. Many of these organizations provide support in education, career training and financial opportunity to millions of people in need every year.