When a bank suggests to you that you stop paying your mortgage in order to qualify for a home mortgage refinance.
Winter Park Florida foreclosure, bankruptcy and real estate attorney Eric Lanigan discusses the issues that can cause a foreclosure to be stopped.
Many times foreclosure problems start with lenders who tell homeowners desperate to refinance that they’re unable to be refinanced because they’re not late on their home loan payments.
The suggestion often made is that the homeowner default to prove that a refinance is thus needed.
Bad move. Homeowners stop paying and thus “qualify” for the refi. But a foreclosure action then occurs due to late payments.
At this point a homeowner should see an experienced real estate attorney. Eric Lanigan has seen clients who have had banks tell them to stop paying their mortgages in order to get a refinance accomplished.
However the ensuing foreclosure action is caused by the bank.
Keep track of your discussions with lenders, time, date and name of lender staff. Should the bank suggest this and a foreclosure occur, you may have legal grounds for foreclosure dismissal as well as release from fees, penalties and other actions.
Lanigan tells clients not to throw in the towel in a foreclosure action, ever. Banks and lenders have made horrendous mistakes. From robo-signing, to incorrect documentation including late fees, penalties and faulty payment schedules.
There are rights and laws to protect homeowners that the average person simply isn’t aware of. Find out what you can do to defend against foreclosure.
Contact Eric Lanigan and Roddy Lanigan at Lanigan and Lanigan by calling 407-740-7379 in (Winter Park Florida)
Here’s One of the Reasons Your Bank Won’t Refinance Your Loan
Winter Park Florida foreclosure and bankruptcy litigator Eric Lanigan explains loss share agreements between banks and the FDIC. Loss share agreements give banks 80-95% of the value on a home that has a defaulted loan.
While you’re trying to ask the bank to renegotiate, they may already have an option to recoup the losses through the FDIC.
Every loan, every foreclosure, every situation is different. Don’t despair or compare yourself and your situation to someone else’s. Talk to an experienced lawyer who has the knowledge and the background to advise you professionally.
Eric Lanigan has practiced law in Florida since 1976. He may be reached at 407-740-7379 and is located in Winter Park, Florida.
Eric Lanigan has advised Florida business owners on complex business and civil law since 1976 and one thing he tells all business owners: don’t answer investigators’ questions without an attorney.
Your professional license relies on your ability to practice in your field. If you answer a question of a licensing arm innocently and it becomes a criminal matter you may lose your license and face charges.
Think before you speak. Call an experienced attorney and talk with the lawyer to get advice about what you should say or have the attorney with you for questioning.
There are three ways that lenders are deceiving homeowners. A Florida foreclosure attorney who has been practicing law since 1976, Eric Lanigan talks about what he’s seen and discovered in a new blog post.
In short, homeowners are finding out in the midst of foreclosure that they are paying the wrong entity, the wrong amount and lenders are foreclosing on homes they don’t hold the note for.
However, trusting homeowners who believe that the legal document, the mortgage, that they signed holds the two parties accountable for their actions.
Yes, in philosophy. However, because the mortgage industry is in such disarray, paperwork is a mess and tracking who owns what loan takes a forensic or a securitization audit to determine what is correct.
An adversary action proceeding is what you think it is: the bankruptcy court is fighting with someone else in the bankruptcy court. On occasion it can take you by surprise if you accidentally provided the wrong information, incorrect information or intentionally incorrect information to the court.
It is up to you to hire an experience bankruptcy attorney—not the cheapest lawyer you can find. Bankruptcy is complex. You are in Federal court. Take bankruptcy very seriously.
If you would like to find out more about bankruptcy, you can set up an appointment for a consultation with Roddy Lanigan by calling 407-740-7379 to come into the offices located at 831 W. Morse Blvd., (Winter Park Florida).