A recent article on CNN finds that more homeowners are fighting to stay in their homes longer despite the attempts by banks to actively foreclose on their property.  The article begins with a quote from an attorney saying that many of the attempts made by homeowners to stay in their homes are without legal merit.  These attempts include challenging the banks right to foreclosure, demanding that banks produce the legal note giving them ownership of the loan, and also challenging foreclosure practices.  While these efforts may not permanently guarantee a homeowner’s right to stay in the home indefinitely, these legal challenges have merit and the courts have ruled in favor or homeowners in thousands of these cases.

The bigger issue, however, is whether these attempts to delay foreclosure have any long term benefit to the homeowner.  Unless there is some other legal challenge that challenges the loan itself, a homeowner will not likely prevail for long.  However, it may still make financial sense to challenge a bank on some of these other issues if it gives a homeowner more time to sort out their financial difficulties.

If you are considering suing a bank for unlawful foreclosure, predatory lending, breach of contract related to a loan modification, or for some other reason, please contact our office today.  We offer free consultations and can give you a fair analysis of whether litigation is the right choice for you.

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