Wrongful Foreclosure

Many individuals end up being the victim of wrongful foreclosure.  Some of these individuals end up losing their homes and there simply isn’t a thing they can do about it.  However, with the right attorney – a wrongful foreclosure suit could be filed.  Below, you’ll learn more about what wrongful foreclosure is and what to do if you think you’ve been a victim.

 What is Wrongful Foreclosure?

 Wrongful foreclosure is when a lender or institution forecloses on an individual and sells their home illegally – or using methods which are outside the bounds of the law.  For instance, if a person is in the process of foreclosure and a lender or institution accepts a partial payment from that individual – but continues with the foreclosure, it is a wrongful foreclosure.  This happens all the time to individuals and many don’t realize that it is happening.  They seem to think that lenders and institutions are above the law, but they’re not.

 How to Deal with Wrongful Foreclosure

 If you feel you’ve been a victim of wrongful foreclosure, the first thing you should do is contact a foreclosure attorney.  Since attorneys are versed in the laws regarding foreclosure, he or she can tell you whether or not you would have a legitimate case against the lender or institution which has foreclosed on you. If you do have a case, an attorney may seek damages for you – including pain and stress as well as emotional damages.

 What are Some Instances of Wrongful Foreclosure?

 There are many different instances of wrongful foreclosures, including when the lender or institution has adjusted the interest amount to an incorrect amount, when they have accepted a partial payment from an individual and then continued with the foreclosure process, continuing with a foreclosure although the individual was in chapter 11 or chapter 13 bankruptcy, failing to apply payments to the individuals account and more.

 If you feel you’ve been the victim of a wrongful foreclosure, you should speak with an attorney right away.  You may be entitled to compensation and your attorney can let you know whether or not you are.  You must be able to prove that the lender or institution foreclosed on you while they were legally unable to do so.  This might include receipts from partial payments, bills or statements showing that your amount was applied wrongly or receipts where you have paid payments which were not applied to your account.

• If you need legal assistance with a Foreclosure case, please consult with a Foreclosure Lawyer near you to discuss the details of your case. This website is for informational purposes only, and nothing stated here should be taken as legal advice.