The Ticktin Minute January 23, 2017 – Using Mortgage Errors to Stop Foreclosure

The thought of foreclosure is not easy for anyone to think about, but unfortunately it happens every single day. Oftentimes, families don’t have anywhere to go and they are left with little options. If you or someone you know is in this situation, it is important to remember that having a competent and knowledgeable foreclosure attorney by your side can help achieve a win over the bank and keep the family home from foreclosure.

One way to save your home from foreclosure is to prove that the loan servicer made a mistake with regard to the mortgage. Mortgage errors happen very often in the mortgage business, especially due to the voluminous records that are kept. Further, mortgages are sold and resold frequently in today’s economy, thereby fostering the possibility of such mistakes when mortgages change hands.

Loan servicers have many responsibilities with regard to managing loans. These include, but are not limited to: sending monthly statements, collecting and processing payments and paying taxes and insurance from escrow accounts. One common mistake that be used as a defense for foreclosure may include not crediting payments to the correct account. Another defense could be failure to pay taxes and/or insurance as required from the escrow account. Additionally, mortgage services can use questionable accounting practices, which result in erroneous late fees imposed without notice, excessive miscellaneous charges (ie: property inspections/maintenance) and/or erroneous attorney’s fees.

When a mortgage servicer makes such a mistake, a homeowner may be entitled to bring their home out of foreclosure. Homeowner’s facing these issues should remember to contact a knowledgeable foreclosure attorney as soon as possible to maintain the best defensive stance against the bank.

If you believe that your loan servicer made a mistake, contact the attorneys of The Ticktin Law Group to assist you with foreclosure and/or any other legal issues you may have.