When a bank comes to try to take your home away in a foreclosure action, you are understandably distraught and under a lot of pressure. A bank does not have an unlimited right to foreclose upon your home. They must follow applicable laws and procedures. If they do not, you may have the ability to stop the foreclosure. Your first step is to call an experienced foreclosure defense attorney.
In most cases, your foreclosure defense would allege that the bank did not follow state law. Florida law prescribes a strict process that banks must closely follow. Although judges may overlook minor errors, the failure to take all required steps could negate the foreclosure.
Banks must also follow federal law in making and administering the loan. If the mortgage itself could be considered invalid under federal laws like the Truth in Lending Act, the bank may not be able to foreclose on it. In similar regard, if the bank charged you excessive fees or broke the law in servicing the loan, you may be able to stop the foreclosure.
You have a limited amount of time to assert your defenses to foreclosure. If you do not speak up for yourself, the bank may be able to take your home. As soon as you receive a foreclosure notice, you should consult with an attorney to review your situation and see if there are any possible defenses to stop the foreclosure. This is an area where time is of the essence.
The attorneys at Naples & Spence work with homeowners to protect their interests and stop bags from overreaching with foreclosures. To speak with one of our attorneys, send us a message online or call us at 904.901.7096 today.
