Foreclosure Defense
Foreclosure Defense Litigation & Lender Liability – For Homeowners
Mirk Law Group has a wealth of experience representing both homeowners and large financial lender institutions. This gives us the upper hand in foreclosure defense for homeowners because we know how the other side thinks.
Whether you are a homeowner facing a wrongful foreclosure or you simply want to prevent an impending foreclosure, we’ve got the knowledge, experience, and tenacity to provide you with an effective defense and insightful solutions.
Avoid a Foreclosure with:
- Loan Modifications – to reduce monthly payments
- Forbearance
- Bankruptcy
- Negotiating Cash for Keys
- Short Sales
- Usury Laws
- Deeds in Lieu
- Anti-Deficiency Legislation
Often times lenders have enacted improprieties in their dealings with homeowners which we can uncover and use in your defense against a foreclosure. The following is a short list:
Fair Value Limitation
If you are facing a deficiency judgment, we can help to mitigate your costs. We will negotiate the amount you owe based on the difference between your outstanding loan balance and the fair value of your foreclosed property, NOT the price the foreclosed property sold for. We do this by requesting a fair value hearing, whereby the fair market value of your foreclosed property must be determined before a deficiency judgment can be awarded to the lender.
Breach of Contract
When your lender violates any term of your loan contract, such as notice requirements, or fails to follow accepted standards of fair dealing.
Fraud/Intentional Misrepresentation
An intentional misrepresentation of facts or concealment of certain knowledge to motivate the homeowner to perform specific actions resulting in the homeowner’s detriment. Fraud occurs with false information about interest rates and adjustments, loan documents, and the terms of loan repayment. Both written contracts and oral statements are admissible in legal cases involving fraud or misrepresentation.
Negligent Misrepresentation
The Truth in Lending Act (TILA) requires that lenders provide adequate information to borrowers regarding the costs involved in obtaining and repaying a loan.
Loan Settlement Fees and Procedures Law (RESPA)
RESPA addresses many of areas of fraud and negligent misrepresentation, including excessive markups, lack of disclosures, and excessive unearned fees incurred by lenders.
California Unfair Business Practices Act
This act provides another safeguard and line of defense for borrowers against lender fraud or violations of fair dealing standards.
Usury Laws
Mandate that specific lenders cannot charge borrowers an interest rate of over 10%.
With attention to these and other legal issues, Mirk Law Group will work diligently to help you avoid, reverse, or mitigate the effects of a foreclosure.