Options For Homeowners With Wrongful Foreclosure

: Chris Lee Law Firm

  Filed under: Foreclosure

Wrongful ForeclosureMillions of Americans have suffered at the hands of the wrongful foreclosure problem that spread across our nation over the last few years. As just one of the kinks in the chain of the foreclosure crisis, this issue has left many without  a home and in deeper financial trouble. Luckily, there has been much attention to the situation and many people fighting to get the problem resolved. Homeowners who have experienced an unlawful foreclosure now have several options that could provide them with some much deserved restitution.

Getting What Is Deserved

Recent news broke surrounding the national $26 billion mortgage settlement deal.  This deal has earmarked funds for paying restitution payments to affected homeowners, but the deal is far from adequate. Since many are still not happy with the overall outcome there has been continued efforts aimed at securing deals between lenders and victimized homeowners.

There are several other settlement deals in the works that can provide help to affected individuals directly from the offending lender. Homeowners who suspect they may qualify for either the national settlement deal, or one of the smaller programs, can participate in a qualifying investigation to determine eligibility. Anyone who qualifies could receive financial compensation for their troubles.

Homeowners also maintain the right to privately sue their lender for their troubles in the wrongful foreclosure. A foreclosure lawyer can help evaluate a homeowner’s situation to determine if there is any legal recourse available and help pursue a lawsuit against the lender. While this option remains open to investigation by any homeowner, it should be noted that pursuing private litigation does not exclude them from also participating in one or both of the mortgage settlement deals above.

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