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What are your foreclosure rights? Do you know? When
foreclosure descends on you, it can seem like you do not
have rights at all. Having been through foreclosure myself,
I understand that. I felt like I was completely at the mercy
of my lender. I did not fully understand what my
foreclosure
rights were or what my options were.
Your rights include being able to engage an attorney. The
foreclosure workout paper I received told me to confer with
a lawyer previous to signing them. I truthfully wish that I
had. A legal representative that understands the foreclosure
rules in your state can aid you in defending your rights.
Your lender has attorneys battling for their rights, you
ought to have a lawyer battling for your rights also.
Part of your rights include being sure to completely be
familiar with each paper that you sign. Refuse to put your
signature on a piece of paper simply because your lender
tells you that you should. Study every sentence, every word,
every line of every document you get. If you do not
understand something, get someone to explain it to you. If
an lawyer is just not in the cards for you, phone your bank
and have the representative there talk to you about anything
you do not understand. Be sure that they explain it to your
satisfaction. Do not hang up until they do. If your bank
representative has done a good job, this call will not even
be needed because they will have told you exactly what you
are getting and what it means. I was on the phone with my
bank representative asking him to explain documents to me,
probably more times than he would have liked. Since they
want you to sign the papers they send you, explaining them
to you should not present an issue. If you truly want to
protect your foreclosure rights, be sure that you understand
every paper that you put your signature on.
It is completely within your rights to bug your lender as
often as you want to. I was nearly continuously calling my
bank to be certain that they got the papers I sent, that
they got the payments I had promised. I was likewise phoning
them frequently with inquires about my foreclosure and what
followed in the procedure. It is part of your rights to know
where you are at in the procedure and to be certain that the
bank got all of the things that they required. Your
foreclosure rights contain the right to phone your lender as
often as you require in order to be certain that your
process is on the right path.
Do not wait for others to defend your rights. You will need
to address that one on your own. You will be your own top
promoter in your foreclosure so be certain that you are a
backer for yourself.
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