Mortgage Foreclosure Defense
At Lakelaw, we know how to fight back against mortgage foreclosure. If you face mortgage foreclosure, you don’t have to give up. In addition to your rights to protection under chapter 13 of the Bankruptcy Code, you may have substantial defenses to the mortgage foreclosure both in Illinois and in Wisconsin.
For example:
- Does the lender really own your note and mortgage?
- Do you really owe the lender as much as they claim?
- Has the lender followed every procedural requirement of the foreclosure laws?
- Do you have defenses under the Truth in Lending Act (TILA), the Real Estate Settlement Procedures Act (RESPA)
- Was your mortgage induced by fraud?
David Leibowitz is recognized as a leader in this field. In March, 2008, he taught a class on the Foreclosure Litigation Process and defense at a symposium sponsored by the Chicago Federal Reserve Bank and the Wisconsin Housing and Economic Development Authority (WHEDA) entitled Wisconsin Moves Forward To Address Foreclosures, {note to Laura Benson – you may want to actually copy this web-page in the event that the link expires}
Steps We Take to STOP Mortgage Foreclosure
The first thing to remember is that even if your home is currently in foreclosure that does not mean that the proceedings have to continue to completion. If you were a victim of predatory lending or a mortgage rescue scam, there are many avenues available for your defense, and we may be able to help you turn the tables on the lenders. We know the Truth in Lending Act (TILA), the Home Ownership Equity Protection Act (HOEPA), the Real Estate Settlement Procedures Act (RESPA), the Equal Credit Opportunity Act (ECOA), as well as an array of state laws designed to protect you.
If you have simply been unable to keep up with your mortgage payments, we may be able to help you stop the foreclosure proceedings by first filing for Chapter 13 bankruptcy. Then, after evaluating your current financial situation, we help you come up with a payment plan — a plan the courts find agreeable — that reorganizes your debt and allows you to continue paying your mortgage while making up for missed back payments. If you have a valid claim against the lender, we might be able to pursue it for you as a part of your Chapter 13 case. This could result in a vast improvement in your financial situation.
There are certain situations where individuals are ineligible for Chapter 13 bankruptcy — for example, if you owe over $1,010,000 in secured debts and predatory lending is not an issue, Chapter 13 is not for you. However, we still may be able to help you in Chapter 11 bankruptcy, in Chapter 128 restructuring cases under Wisconsin Statues, and under a wide array of mortgage defenses.
If you fear losing your home to foreclosure contact a consumer protection attorney at Lakelaw online or by phone at 1 866 Lakelaw (525-3529).
