Thorough Evaluation of Florida Mortgages Held by Securitized Trusts
Mortgages are traded and sold every day by banks and various financing entities, and it all happens without input or awareness from mortgage borrowers. One critical, fundamental question to ask about any foreclosure does not typically occur to the homeowner: Does the plaintiff filing a foreclosure lawsuit against you have the legal right, or "standing," to do so?
Who Is Suing You? Does This Entity Have the Right to Foreclose?
One of the first steps we take when you consult our Orlando area law firm about foreclosure defense is to analyze relevant documents and determine whether the entity suing you is a securitized trust — and whether that plaintiff can prove "ownership" of the loan and the right to foreclose. This is a key question for many foreclosures being filed today, and it is relatively common to identify problems associated with the trust's:
- Ability to present the original promissory note and properly document the chain of transfers associated with it
- Management of all legally required steps in the processes for transferring a mortgage and, ultimately, filing and proceeding with a foreclosure lawsuit
Thorough Analysis of All Viable Options for Saving Your Home
In some cases, challenging a securitized trust's standing could lead to dismissal of the lawsuit. More commonly, the best path for a borrower with a range of debt pressures is to work with a lawyer capable of leveraging this information to negotiate a workable loan modification.
At our firm, we challenge foreclosures on Orlando mortgages held by securitized trusts in Chapter 13 bankruptcy proceedings. Often, an interest rate reduction and/or extension of the loan term is a better outcome financially for the lien holder than foreclosure — and it enables the homeowner to catch up, keep up and return to a stable financial position.
Contact a Resourceful Orlando, FL, Foreclosure Defense Lawyer: 407-792-3473
If you do not recognize the name of the plaintiff on your foreclosure paperwork, there is a good chance you are being sued by a securitized trust — or that, at a minimum, it is worth having a skilled attorney evaluate your situation.
To discuss whether foreclosure mediation in bankruptcy or another form of foreclosure defense can accomplish your goals, please call the Price Law Firm today for a free initial consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
