Montana foreclosure right of redemption rules can leave home owners scratching their heads. The law is complicated, and the overwhelming thought of losing your home can make it difficult to think clearly anyway. An attorney experienced in Montana foreclosure law can help you get through this difficult time.
Right of Redemption for Montana Home Owners Facing Foreclosure
In Montana state, foreclosure proceedings can be handled either through a judicial proceeding or through a non-judicial proceeding. The size of the land is important in determining the available remedy when you default on a lender.
Montana's previous statutes provided a twelve month right of redemption; however, the Small Tract Financing Act has since eliminated the home owner's right to redemption after a properly executed foreclosure sale. That means, your only chance of getting your property back may be to find fault in the procedure that was used to foreclose on your home. If you can prove that proper notice was not provided or other flaws in the required proceedings existed, you may be able to delay the foreclosure process or sale of your home.
Deficiency judgments are also not generally allowed in Montana, except in a few situations. Only in judicial foreclosures (i.e. foreclosure by lawsuit) where the home was sold and the proceeds did not cover the loan deficiency are deficiency judgments granted.
Because your right to redeem your property right is limited under Montana law, it is wise to seek the assistance of an experienced attorney if you wish to fight for your property rights and prevent foreclosure. There may be remedies available to you that you are not aware of or options you have not considered. Getting some legal help and taking the time to figure out the best way to handle your situation can make a huge difference in your future.
Getting Legal Help
Legal assistance for your foreclosure is just a phone call away. A Montana lawyer can help you assess your property rights even in the face of foreclosure. You do not have to go through the pain of home loss alone. An attorney will understand what you are going through and be able to explain the law and use it to your advantage if it is in your favor. Get the answers to your complicated legal questions in plain English today.
