How you respond to a foreclosure notice will depend on your financial circumstances and the unique situation with your lender. Sometimes, homeowners facing foreclosure are not really to blame for the situation.
The company could have made some sort of mistake when handling their payments or recording them. The result of those mistakes is that the homeowner now faces foreclosure despite sending payments or even having those payments taken out of their bank account already. For people in such circumstances, financial defenses are often the best solution.
For others who actually missed payments, a technical defense against a pending foreclosure may be possible. If your lender made even small mistakes, that could work in your favor.
Oversights and timing errors can help you
Lenders have to provide specific notification to homeowners well before they try to take someone to court to foreclose on a property. You should receive notice for each missed payment, as well as a notice of default once the past-due balance has gone unpaid for several months.
If your lender failed to send proper notice or took legal action too quickly after providing that notice, you may be in a position to use that in your foreclosure defense. In some cases, a mistake could delay foreclosure proceedings, giving you a chance to catch up on your missed payments. Other times, the mistakes may be enough to force the lender to start foreclosure over again entirely.
Looking into all of your options and carefully reviewing your own records can help you determine the best strategy for defending Your Home against a possible foreclosure.