We will employ the phrases “fraud” and “misrepresentation” in general, however please notice that these words perhaps have quite distinct legal meanings in different states. For example, many states have laws that control debt collection strategies that bar particular sorts of scams and misrepresentations by banking institutions and by collection agencies which might be applied to a foreclosure along with a “standard” fraud or misrepresentation case. Your locale could possibly have comparable consumer safety laws. Of course, if you believe your creditor has lied or made misstatements to you at any time within a foreclosure process, find a legal professional in your state to decide if your particular facts will give rise to a offense that may perhaps avoid a foreclosure.
Just what misrepresentations a lender can make to a debtor are too different to number. Essentially, where a mortgage company tells you it is going to do one thing and then does something else, it might be a misstatement giving rise to a violation. For instance, expressions which could give rise to legal responsibility (depending on the specifics) are:
A) Should a bank provide that it isn’t going to foreclose on the house on a given day and subsequently forecloses anyhow;
B) When a lender declares that the borrower is approved for a modification or perhaps supplies the debtor with a modification agreement and thereafter fails to modify the mortgage loan; or
C) If a lender declares that a payment will be applied to the mortgage loan in a particular way and subsequently utilizes it in another way.
There can be numerous potential stumbling blocks in a fraud or misrepresentation case. Some types of misrepresentations may need to be made on paper to be binding. Some representations may not produce a misrepresentation. An attorney familiar with violation of stalking injunction defense and these particular suits where you live is an critical source of information to you if a violation has transpired.
Stopping a foreclosure as a result of a misrepresentation with regards to a particular foreclosure sale could also fail to turn into continuing solution. If the lending company made a statement that the foreclosure is going to be postponed, however it is continuing to move forward with the foreclosure, a restraining order may avoid that foreclosure, though the bank would just be required to re-post the residence for foreclosure and keep from making any misrepresentations as to the next foreclosure. This kind of suit could prevent the foreclosure, but nonetheless , a follow-up plan should also be available to handle the arrearage. Once more, if you feel that your particular creditor has made a significant misrepresentation to you prior to a foreclosure, you need to find a legal professional licensed where you live.