Wrongful Foreclosure
A wrongful foreclosure action typically occurs when the lender starts a non-judicial foreclosure action without legal cause. Wrongful foreclosure actions are also brought when the service providers accept partial payments after initiation of the wrongful foreclosure process and then continue with the foreclosure process. These predatory lending strategies, as well as other forms of misleading homeowners, are illegal.
Damages available to a borrower in a wrongful foreclosure action include compensation for the detriment caused, which are measured by the value of the property, emotional distress, and punitive damage- if there is evidence that the servicer or trustee committed fraud, oppression or malice in its wrongful conduct. If the borrower’s allegations are true and correct and the borrower wins the lawsuit, the servicer will have to stop foreclosure, and pay the borrower’s legal bills.
Big banks have gotten out of control. We see the same pattern over and over: the bank deceptively sells homeowners an unaffordable loan, and then overcharges the homeowners with fees and expenses if they get behind on their payments. When the homeowners try to apply for a loan modification, the bank loses the paperwork and asks for the same information over and over again. Finally, after assuring the homeowners that a foreclosure will not occur while the modification is pending, the bank wrongfully proceeds to foreclose and the homeowners lose their home. Don’t let this happen to you. Call us before the foreclosure occurs, and we will stop the foreclosure and help you save your home. Remember, in the rare instance where we don’t recover anything for you, there is never a fee for our services.
Call us today for a free consultation and find out how The Law Offices of Riley and Riley can put justice to work for you.