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When Exploring Mortgage Litigation: What Options Do I Have?

Because home mortgages are technically highly regulated, meaning there are numerous federal and state laws, rules and guidelines regulating how residential mortgage loans are originated, managed and how the foreclosure process “works”. Borrowers have many ways to confront a mortgage foreclosure problem.

We all know that in today’s environment the trustworthiness of financial institutions is in doubt, and the horror stories from borrowers fill the news and social media. If your good faith efforts fail and you are unable to resolve your mortgage foreclosure situation you have four options:

Option 1: You Can Do Nothing

Depending on what state you live in the foreclosure process (Judicial vs. Non-Judicial) of going from loan default to foreclosure sale can be as short as 3 months to as long as 70 months. Taking no action will forfeit all of your rights and expedite the process.

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Option 1: You Can Do Nothing

Depending on what state you live in the foreclosure process (Judicial vs. Non-Judicial) of going from loan default to foreclosure sale can be as short as 3 months to as long as 70 months. Taking no action will forfeit all of your rights and expedite the process.

Option 2: Pro Se Litigation

The legal term for representing yourself. Every citizen has the right to represent themselves in court. Most courts offer forms or guidelines to the public at no cost. The key is that courts hold individuals to the same standards as attorneys; your filings must be on time, in the correct format, and in the “language” of the court. Most judges will allow some leeway for Pro Se parties, but courts aren't allowed to do any work that should be done by either an attorney or Pro Se party..

Option 3: No Cost / Low Cost Assistance

Many types of mortgage foreclosure help are available which varies based on your income level, assets, lender and other factors. You may qualify for assistance from HUD funded agencies like Fair Housing. In most instances Fair Housing agencies do not provide or offer legal support or representation. Low cost, or possibly free, legal representation by a local licensed attorney can be found through your local Legal Aid Society or county BAR Association or through the American Bar Association. These options may offer quality assistance and can be effective. As you can imagine these non-profits are very often overwhelmed with requests for help, and as with all non-profits resources and staff are limited, therefore you should consider how much time and attention you and your case will realistically get when time is of the essence.

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Option 4: Retain A Liscensed Attorney

As you already know the risk of not getting the right help can literally cost you your home, and the process of resolving mortgage problems is complicated to say the least.  While hiring an attorney is not a guarantee of success, getting the right help, and the right attorney can make all the difference.

As you already know the risk of not getting the right help can literally cost you your home, and the process of resolving mortgage problems is complicated to say the least.  While hiring an attorney is not a guarantee of success, getting the right help, and the right attorney can make all the difference.

Resources not affiliated with Mortgage Assist Now
These Links are additional resources for the benefit of the consumer. The links lead to government websites that deal with the current issues being addressed in the mortgage industry. Mortgage Assist Now is not affiliated with any government program or agency, financial or creditor institution or company.

U.S Department of Housing and Urban Development 
Making Home Affordable
U.S Treasury
Federal Trade Commission

Important Consumer Notice**
Mortgage Assist Now is a privately operated consumer service that offers borrowers valuable news, resources, access to licensed attorneys nationwide for mortgage mitigation, reinstatement, principal reduction, and various foreclosure alternatives.
Mortgage Assist Now is not a law firm and does not give legal advice or accept payments from consumers for any services.
Mortgage Assist Now IS NOT A GOVERNMENT AGENCY, OR AFFILIATED WITH ANY GOVERNMENT AGENCY OR ANY GOVERNMENT PROGRAMS, IS NOT A COUNSELING AGENCY OR SERVICE AND IS NOT A LENDER, BANK OR BANKER.