Stop Help Avoid Louisville Home Foreclosures
As soon as a mortgage company files a foreclosure in Louisville and other Kentucky towns con artists start asking you to sell them your home. Foreclosure “consultants” may promise help you to avoid foreclosure but by relying on their advice you may fail to go to an attorney that could stop or cure the foreclosure. Often these consultants charge up front fees that would be illegal in may states like California so they work unregulated in our state. Methods that do help you include
- working directly with your lender on a mortgage modification or workout,
- filing an answer to any foreclosure and defending against the lawsuit or
- filing a Chapter 13 bankruptcy to force the payments on the lender.
It is rare that a collection department of the bank ever suggests that you have the right to sue the mortgage company or servicing company for unfair collection practices act violations. You need an attorney that understands what the options are.
Their are local Louisville Kentucky frauds and scams. These are a couple we have seen.
- Predatory Loans or up front fees pay off mortgages that are never granted.
- Buying your home for less than what it is worth to avoid foreclosure.
- Charging for help and then not delivering it
- Claims to be the foreclosure department of your mortgage company offering a payment plan. Instead they simply take your payments and leave town.
- Giving a stranger your deed as security because he promises you a loan or to avoid the litigation.
- Claims to be a Kentucky agency that will defend you. Meanwhile they buy your home at auction while they convince you they are defending you.
When you are served you have 20 days to file an answer to the foreclosure. If you wait beyond that period of time you lose the right to file an answer and prevent the loss. There are options. Short sales are where a third person offers to buy the home for more than it would have sold at auction but less than the mortgage. Many of these options have problems however such as later tax debts. Prevent your home foreclosure and understand the problem. Get real help from a Louisville Kentucky attorney and learn the facts about what your options are.
Nick C. Thompson Louisville Kentucky Foreclosure Attorney
