As the number of foreclosure cases in the United States reaches record levels, we are finding many consumers being sued who have meritorious defenses to these suits. The purpose of this article is to explain a few of the steps you can take to ensure that your rights as a mortgagee are protected.
No-one can file a foreclosure in Kentucky unless they have the right to do so. Many consumers have had their mortgages sold to third parties with whom they never actually signed any agreement. This is perfectly legal, but it can create some problems when the homeowner falls behind.
Many times these sales are done with only minimal paperwork. Files are not always transferred properly and documents which are required to file suit being sold are frequently overlooked. As such, it is not uncommon for a foreclosure to be filed without the requisite authority.
Another aspect of a foreclosure that many distressed consumers aren’t aware of is their right to defend themselves and force the plaintiff to provide proof of its right to sue and other relevant information. Obviously, if a mortgage is in default, a foreclosure is a legitimate recourse for the lender. But the we have found that many such plaintiffs attempt to push foreclosures through as quickly as possible, leaving little opportunity for frightened and confused consumers to protect themselves.
Any homeowner has the right, if foreclosed upon, to demand that the plaintiff provide them with proof of the default and the plaintiff’s authority to sue over it. If the plaintiff cannot do so, it is possible to get the case dismissed entirely.
If you have been foreclosed upon, you owe it to yourself to ensure that your rights in court are protected and asserted. Oftentimes, simply slowing down the process gives a homeowner time to gather resources and qualify for a workout or other modification. One thing is certain: Ignoring a foreclosure and doing nothing will not help but asserting your rights in court can at least give you some breathing room to consider your options.
No-one can file a foreclosure in Kentucky unless they have the right to do so. Many consumers have had their mortgages sold to third parties with whom they never actually signed any agreement. This is perfectly legal, but it can create some problems when the homeowner falls behind.
Many times these sales are done with only minimal paperwork. Files are not always transferred properly and documents which are required to file suit being sold are frequently overlooked. As such, it is not uncommon for a foreclosure to be filed without the requisite authority.
Another aspect of a foreclosure that many distressed consumers aren’t aware of is their right to defend themselves and force the plaintiff to provide proof of its right to sue and other relevant information. Obviously, if a mortgage is in default, a foreclosure is a legitimate recourse for the lender. But the we have found that many such plaintiffs attempt to push foreclosures through as quickly as possible, leaving little opportunity for frightened and confused consumers to protect themselves.
Any homeowner has the right, if foreclosed upon, to demand that the plaintiff provide them with proof of the default and the plaintiff’s authority to sue over it. If the plaintiff cannot do so, it is possible to get the case dismissed entirely.
If you have been foreclosed upon, you owe it to yourself to ensure that your rights in court are protected and asserted. Oftentimes, simply slowing down the process gives a homeowner time to gather resources and qualify for a workout or other modification. One thing is certain: Ignoring a foreclosure and doing nothing will not help but asserting your rights in court can at least give you some breathing room to consider your options.