Free Foreclosure Defense Attorney Resources
Fighting a Wrongful Foreclosure. Shockingly, many people refuse to fight a wrongful foreclosure because they believe that they simply could not afford the process but this isn’t true. Some homeowners could be owed a financial settlement but do not realize that many consumer lawyers work cases at no charge. Many consumer lawyers will work out a plan that suits you and even collect from the financial institution should you win the case.
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You may be thinking ‘well, if they couldn’t afford to pay their mortgage, how would anybody win a case?’ but the Massachusetts Supreme Court answered that question not so long ago. Judge Robert J. Cordy announced that the decision to foreclose on two properties was wrong because the banks could not prove that they owned the mortgages. U.S. Bancorp and Wells Fargo were the two banks in question and as they couldn’t prove the ownership of the mortgage in court, the Judge reversed the decision whilst commenting on their ‘carelessness’. Foreclosing a property is a big decision and banks have to be absolutely sure that they can do it legally before proceeding, something that wasn’t considered in this case.
Although this clearly shows what can be done in a case of wrongful foreclosure, the process on this occasion was actually started by the bank who were looking to get title insurance. Antonio Ibanez, Mark LaRace and Tammy LaRace, the borrowers, were then brought in to assess the case. The court was surprised at how the foreclosure occurred and the borrowers were allowed their property back.
According to the relevant papers, it was Antonio Ibanez that bought the home back in 2005 and defaulted on a payment two years later; the loan was worth just over $100,000. After declaring bankruptcy, Ibanez no longer had obligation on the debt and the loss was to be taken by the mortgage investors. However, the process isn’t yet over after the bank is set to appeal to the Supreme Court.
Similarly, a $100,000 loan was taken in 2005 by the two LaRace’s and again, defaulted on a payment in 2007. After reaching financial problems, an offer for the property was received but it was foreclosed regardless; the reason given later was that the mortgage services had to rate what the quickest route to the money was. The problem is: who do they pay now that they have moved back in and agreed to make the payments?
- The loan isn’t owned by the trustee bank
- Option One, who granted the loan initially, is no longer in business
- The mortgage wasn’t transferred to the investors
This case alone is likely to spark action all over Massachusetts and potentially the U.S. as it has huge implications. Lawyers are so far somewhat reluctant to get involved in a case of this type as it is a relatively new arena and may not necessarily be financially rewarding. Due to the complexity, cases are being carefully considered one by one. Some cases are proving near enough impossible to overturn given the difficult task of tracking important documents for the lawyer compared to the access to resources that the many financial institutions have.
The lawyers involved in the Ibanez and LaRace’s cases, Paul Collier and Glenn Russell respectively, did not charge initially and will be looking to take a fee from any settlement given for wrongful foreclosure. The lawyer of the LaRace’s case is even looking to recuperate some of the fees paid in repairing the home once they moved back in.
The two cases described above are rare as it is not often that you will find a lawyer who will work for free initially but there are some ways that they can operate if you have decided to fight a wrongful foreclosure.
Monthly Payments – Some lawyers will charge a monthly fee depending on how long they think the case will take as well as the likelihood of success. The lawyer representing Ibanez, Collier, has said that he normally holds the funds with a third-party institute and then releases them as soon as the case is won.
Fee (Upfront) – Again, the length of the case is considered as well as the likelihood of success. One lawyer has been quoted as saying that on average, the value of the house of these types of cases is higher than half a million so their ability to pay is also a big factor.
Payment Plan (Bankruptcy) – Normally, a fee will be set out for attorneys if the client has declared bankruptcy; this fee will differ between states.
The cases normally end in one of two ways; a claim is settled outside of court or the judgment comes as a result of the illegal activity. Consumer lawyers often get a bad reputation for only choosing cases for the fees but in truth, they are extremely careful about who they choose to represent. As they only get paid for a solid case, they work hard to be successful and only choose to represent someone that has a good chance with their help.
Many professionals have stated that the main problem isn’t the fees involved with a case, as many suspect, it is actually finding a lawyer that will compile your claim successfully. The best way to find a decent lawyer is to ask around the people you know to see if they have a good recommendation and if not, search the National Association of Consumer Advocates. It is always best to seek a lawyer that has experience in a case of your type as they will know exactly what to do and what documents to look for; this will save time on potentially dead ends.
If you need a good attorney to help you sue your mortgage lender or current loan servicer for mortgage fraud, foreclosure fraud, quiet title, wrongful foreclosure, rescission of the loan, declaratory relief, or any other issue related to saving your home from foreclosure or mortgage fraud we recommend the resources in the map and here: http://www.fraudstoppers.org/legalshield/
Did you know that 83% of the mortgages examined in a government audit contained legal violations, mortgage fraud, and errors that could stop a foreclosure dead in its tracks, and entitle the borrowers to financial compensation, clear and free title to their homes, or even better?
Do you want to sue your mortgage lender or current loan servicer for mortgage fraud and/or foreclosure fraud? If you do then we recommend that you take action right now and get the FACTS and EVIDENCE that you need to win!
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For information on foreclosure defense call us at 844-372-8378. We offer litigation support, admissible evidence, expert witness testimony, education, training, and support in all 50 states to attorneys and pro se homeowners.
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