The best chance anyone can have during the foreclosure process in Florida to keep possession of property is to consult with a lawyer from Florida Foreclosure Law Group.
The constitutional right of due process protects people only from violations of their civil rights by state court, not private court. A principle under the freedom of contract states that if lienholder would like additional protection during the foreclosure process in Florida of the formalities of judicial foreclosure, it is their burden to find a lender willing to provide a loan secured by a traditional conventional mortgage instead of a deed of trust with a power of sale.
Examples of Florida litigation: sue based on allegations of over-escrowing, unauthorized charges and brokers’ fees, improper private mortgage insurance procedures and incorrectly adjusted ARMS.
Truth in Lending Act
Several loss mitigation laws have been passed to protect you, the homeowner, during the foreclosure process in Florida.
The Truth In Lending Act (“TILA”) of 1968 is a United States federal law designed to promote the informed use of consumer credit by requiring disclosures about the terms and costs in order to standardize the a manner in which costs associated with borrowing are calculated and disclosed.
TILA does not regulate the charges that may be imposed for consumer credit. It requires a uniform or standardized disclosure of costs and charges so consumers can make comparisons between lenders. TILA also imposes limitations on home equity plans and certain higher-cost mortgages.
The Truth in Lending Act could be used to halt the foreclosure process in Florida if you currently are in foreclosure. Once violations are discovered in the loan documents, your lender might be willing to settle and discontinue the foreclosure process.
Real Estate Settlement Procedures Act
The Real Estate Settlement Procedures Act (“RESPA”) is administered and enforced by the Consumer Financial Protection Bureau (CFPB). The Real Estate Settlement Procedures Act insures that the consumers throughout the nation are provided with more helpful information about the cost of the mortgages settlement and protected from unnecessarily high settlement charges caused by certain abusive practices.
This Act prohibits kickbacks between lenders and third-party settlement service agents in the real estate settlement process. Referrals in these types of professionals could be considered in court as a violation of the RESPA law.
If the borrower believes there are errors in the mortgage account, they can make a qualified written request to the loan servicer. The request must be in writing, if the servicer fails to comply with the qualified written request the borrower is entitled to actually damages. Additional fees for damages can occur if there is a pattern of noncompliance.
If RESPA violations are discovered in your loan documents, your lender might be willing to settle and discontinue the foreclosure process in Florida.
Florida Foreclosure Litigation
The experienced Florida litigation team at Florida Foreclosure Law Group is the best solution in order to assess whether your mortgage lender has conformed to these laws or not. Most loans (especially those in the foreclosure in Florida) will qualify for our program, timing is critical. The Florida Foreclosure Law Group lawyers will work diligently and quickly to resolve your current situation and discuss alternatives to foreclosure.