As an estate litigation lawyer Oklahoma City, OK community members can depend on at Marty Martin Law may tell you during a consultation, if you have been unfairly denied modification of a loan or are faced with a foreclosure action, we may be able to defend you and enable you to remain in your home. We can fight for you to be approved for a loan modification, to avoid foreclosure, and help you pursue compensation if you were unjustly denied.
Our team of lawyers know when to pursue legal action. We can assess your circumstances and hold lending companies responsible under federal and state mortgage laws. We will aggressively exhaust every defense strategy in an effort to keep you and your family in your home. At the very least, our defenses can place you in a more optimal position for lender negotiations.
Defenses Against Actions of Foreclosure
If your lender has taken action for foreclosure on your home, this does not automatically mean that you will in fact lose your home. There are various reasons why a lender’s action for foreclosure may get dismissed with help from a foreclosure lawyer Oklahoma City, OK families can trust. Here are some of the most common ways that we can get an action of foreclosure dropped:
Insufficient Standing
Insufficient standing is one of the most effective strategies in avoiding foreclosure. In the majority of states, the loan servicer must be listed on the mortgage for a foreclosure to be brought against the lendee. If the servicer’s name is not on the mortgage prior to the lawsuit being filed, the case is likely to be dismissed. If that were to be the case for your situation, the court may rule that the lender has insufficient standing since they were not specifically listed on the mortgage between lender and buyer.
Failing to Provide Notice
Lenders must abide by laws through sending notices to the lendee, including providing them information about the Notice of Right to Cancel. Those with an interest in the loan who do not get two copies of this notice is considered a violation. The lender’s violation may enable you up to 36 months to withdraw the loan.
Promissory Estoppel and Constructive Contract
If you made payments on time and have proof to reflect this, then a written contract is not required when you and the service lender agree to pursue permanent modification. If the bank failed to update your loan, it may be a breach of contract and a legitimate defense against foreclosure.
In addition to the information above, there are more defense strategies we may implement when fighting against a foreclosure. If you are struggling because of a foreclosure issue, and need litigation, don’t hesitate to call an OK estate litigation lawyer in Oklahoma City from Marty Martin Law today for the guidance you need.