When faced with foreclosure, most people dread the pressure of losing their property. While home foreclosure laws vary in every state, homeowners must know what scenarios required to stop foreclosure process – at the last minute!
Foreclosure proceedings are done in judicial court for some states, like in Cleveland. This makes it easier for Cleveland homeowners to dispute their foreclosures in court even without requesting it, as it is mandatory by law. On the other hand, in a state where non-judicial foreclosure process rules, you can still file a lawsuit against your lending party. However, you need to have more evidence to prove that there are wrong records or transactions on your mortgage loan. Or If you previously filed for bankruptcy, you can file a lawsuit against your lender. This is much costlier and requires more work to get into a lawsuit. But if you have sufficient evidence, then the judicial court shall review the foreclosure process, and the case shall proceed.
To give you a more detailed overview, we listed below some of the scenarios required to stop foreclosure at the last minute:
False, wrong or missing transactions on your mortgage loan payments.
Non-receipt of foreclosure notice or the ‘Notice of Default.’
State laws were not adhered to in some aspects, such as notarization, state or federal laws on notarization, documentation or recordings were violated.
Other rights to the privacy of your mortgage loan information were neglectfully disclosed by the lender as against your state or federal laws.
Active Military Duty – If the foreclosure sale or process happens during the time you’re on active military duty or a year after, you can request in writing for a postponement or a cancellation of the foreclosure.
Errors and Mistakes on Adherence to State’s Foreclosure Process – The court can review these with your notification. You have to notify the judge that the lender is not providing Notice of Default; wrong documentation; misspelled name of the borrower; and other procedural errors.
Unable to Prove the ‘True Owner of the Mortgage’ – this could happen if the real owner has travelled across many states or countries and the mortgage has been transferred to many other owners. This can lead to hardships in locating the true or current owner of the mortgage. Remember that in some non-judicial states, only the true owner of the mortgage can bring the foreclosure into the court.
Lots of times, people wait until it is far too late for them to do anything about the foreclosure process. Do not let this process get too advanced before you become aware that it is not something you have the ability to solve without the assistance of a professional. If you need to know more information about the scenarios required to stop foreclosure, CPD Homes, LLC is here to help you with your distressed home. Give us a call at 216-619-4387, or visit www.cpdhomes.com. We’ll be more than happy to assist you!