Everyday Foreclosure Mistakes and How to Overcome Them


  • Mistakes in foreclosure documentation does happen and it is good to read your documents.
(4 Votes)

Read your foreclosure documentation.

There is a lot of talk about foreclosures these days and not much of it is good. Lost or unverified paperwork has led both lenders and borrowers into a tangled mess that neither is equipped to deal with, especially when the courts are involved. Consumers in this situation may want to look over their foreclosure records for a few things to make sure the lender does have the right to foreclose.

Look at Your Foreclosure Documentation

Is the company looking for payment the same as the one suing for foreclosure? If not, you may want to be wary of the legality of the proceedings. Also, check your paperwork for company names of which you have no prior knowledge. This could be a sign that something is wrong and may be grounds to challenge a foreclosure.

Of course, these mistakes often require a professional, such as a lawyer, to fully investigate. If you see these warning signs, it may be time to look at taking legal action. Of course, just because your lender has made some mistakes in filing for foreclosure does not necessarily mean you should be prepared to stay in your home.

Don’t Stall the Inevitable

Let’s be honest, you know whether or not you can afford to make payments on your home. With a massive review of foreclosures handled by the courts already in progress, it is likely that many homeowners will have up to half a year to solve their foreclosure problems. The question is how will you use that time?

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