Sep 17 2009
Use the Law to Your Advantage
1. The Law- This is the #1 tool any homeowner can use to fight back against their lender or servicer. Unfortunately it is the most over looked and under utilized weapon by homeowners in avoiding foreclosure. Any foreclosure prevention service company (whether it be for profit or non-profit) that is not utilizing the all important legal layer in the homeowner loss mitigation process is actually maybe causing more harm than good to the homeowner. Their attempts to be of service to a struggling borrower, may actually be causing a disservice because they need to use the law.
The facts are that there was a lot of fraud and predatory lending perpetuated in the lending industry over the last 5 plus years and now we are seeing the results of that reckless and unlawful behavior with our current foreclosure crisis. You may be the victim of fraud or predatory lending and in some cases, both. Knowing the intricasies of mortgage law can assist you and help you identify if you are in fact a victim of predatory lending. The Truth in Lending Act and RESPA federal laws and various state laws can serve as protection and as a tool to stop foreclosure.
The best weapon in fighting against a foreclosure is the law, provided that you know how to use it to your advantage. Learn how to use the law at www.ForeclosureDefenseSecrets.com.
