For families and individuals in Maryland facing the potential foreclosure of their homes, the prospect of being left out in the cold without a place to live can be one the worst fears to have to confront.
If you are facing foreclosure on your home, understanding what rights you have in the foreclosure process and deciding on whether you have a legal defense available to delay or stop the foreclosure is absolutely essential. Facing a potential foreclosure requires the assistance of an experienced attorney who has helped people through the Maryland foreclosure process in the past. Only by speaking to an attorney can you be sure that you will be able to mount the most effective legal defense possible against the foreclosure of your home.
In most foreclosure defense situations, there are two main types of legal defenses homeowners can use. The first is a substantive defense. There are number of possible substantive defenses possible, such as showing fraudulent paperwork by the lender, showing the lender’s incorrect payment or calculation of interest charges, or the failure of the lender to adequately include the necessary information in the mortgage documents as required by the law.
The second type of mortgage foreclosure defense available to many people is what is known as a procedural defense. Put simply, a procedural defense is one that forces the lender to comply with the legal steps the state of Maryland requires when that lender wants to foreclose on a property. There are number of procedural requirements with which lenders have to comply when they go through the foreclosure process. If you can show that the lender failed to comply with the legal requirements, it can often be an effective legal defense.
In addition to the two main types of defenses, there are also additional protections that you might be able to use if you want to fend off foreclosure. For example, people in the armed forces might be able to extend the time they have to deal with the foreclosure by using the protections allowed under the federal Service members Civil Relief Act, or SCRA. In other situations you might be able to use foreclosure mediation as a way to keep your home, or at least allow you more time to get your finances in order.
Maryland law now requires lenders to engage in mediation with homeowners once a foreclosure case is filed. Mediation can be a very effective way to resolve your mortgage difficulties because a judge is involved, and we have had a lot of success representing clients in mediations.
However, because an attorney for the Bank attends these mediations, it is also important for you to have legal representation in this process.
The prospect of losing your home to foreclosure is something that fills most people with dread. As soon as you think that you could face foreclosure, you need to understand what the process involved is, and what your legal options are. Crafting a comprehensive foreclosure defense is not something most people can do without the advice and guidance of an experienced foreclosure defense attorney. The foreclosure defense attorneys at The Coyle Law Group have years of experience helping our clients defend themselves against foreclosures, and have helped many of our clients stay in their homes. This if you are worried about foreclosure and need advice, contact us at 410-884-3180.