A person borrowing money to buy a home assumes the loan is secured by the mortgage lien on the house. In the event the house is sold in a foreclosure, they might also assume the debt has been satisfied. But that is not the case! There are two aspects ... [Read more...]
How Can a Lawyer Help You Defend Against Foreclosure?
If you fall behind on your mortgage payments, your house might end up in foreclosure. However, there can be good defenses to a foreclosure lawsuit. Lack of Legal Standing For a bank to bring a foreclosure lawsuit, it must have "legal standing." ... [Read more...]
Foreclosure Defined The U.S. housing bubble burst almost ten years ago, but as people struggle to make payments on their properties, foreclosure remains an important (and misunderstood) legal process. Most home-buyers cannot afford to purchase a ... [Read more...]
Bank Fails to Establish Standing to Bring Foreclosure Suit
A foreclosure lawsuit was brought before Justice Marguerite Grays in the Supreme Court of Queens County, New York. In the case, US Bank National Association v. Yanez, et al., the plaintiff bank sought to foreclose on a mortgage given to Sonia Yanez. ... [Read more...]
Foreclosure Mediation: A New Approach to the Foreclosure Crisis
Foreclosure is the legal process that a lender or servicer uses to repossess a home. If the homeowner misses mortgage payments, the lender may petition a court to sell the property. The lender will use the proceeds of the sale to pay off the mortgage ... [Read more...]