Few things are more frightening than the prospect of losing your home. An impending foreclosure can cause you and your family stress, anxiety, and a sense that you are losing all stability. Such pressure can become especially acute if you don’t understand the foreclosure process or when a foreclosure might be wrongful.
If you are facing foreclosure, put an experienced Fort Lauderdale wrongful foreclosure attorney in your corner immediately. At Loan Lawyers, we have an extensive track record of helping Fort Lauderdale families stay in their homes, protecting their most valuable asset, their home. We’ve saved over 4,000 homes for our clients and can put our experience and skills to work on your behalf.
Do you suspect you may be the target of a wrongful foreclosure? Then discuss your situation with our legal team today. Contact a Fort Lauderdale wrongful foreclosure attorney at our law firm to set up a free consultation to learn more about your legal options.
What Is Wrongful Foreclosure?
Foreclosure is the legal process by which a lender attempts to recover an outstanding loan from a borrower who has fallen behind on their payments by selling the collateral securing that loan. In this case, the collateral is the borrower’s home. However, there are laws in place to protect homeowners from predatory behavior on the part of lenders. If the lender that holds the mortgage on your home is attempting to foreclose on it in contravention of these laws, or even though you’ve followed its instructions to avoid impending foreclosure proceedings, the foreclosure could be wrongful — as in, illegal.
Signs of Wrongful Foreclosure in Fort Lauderdale
How can you tell if you are the victim of a wrongful foreclosure? Some classic signs you can look for might indicate the lender has no right to foreclose on your house. These include:
- The lender attempting to foreclose on the property despite you being current on your payments
- The lender not providing you with a foreclosure notice
- The lender foreclosing on your home or property while you are actively pursuing a loan modification
- You have a forbearance agreement preventing a foreclosure from being initiated
Some other signs that something may be wrong and you could be facing a wrongful foreclosure include:
- Incorrect adjustments to your interest rates
- Misapplied mortgage payments
- Incorrect tax accounting
- Unfair business practices
If you suddenly notice significant changes in the status of your mortgage or suspect the lender is foreclosing on your property without a valid reason, discuss your case with a knowledgeable Fort Lauderdale wrongful foreclosure lawyer immediately.
How Can I Fight a Wrongful Foreclosure?
Going head-to-head with a large bank, lender, or other financial institution is daunting. However, you can fight back with an experienced wrongful mortgage attorney at your side.
Florida law requires lenders to prove that a foreclosure action is legitimate and proper. Robo-signing documents, forged signatures, failure to follow state foreclosure procedures, and failure to abide by the Servicemembers Civil Relief Act (SCRA) could all invalidate an attempted foreclosure. An experienced attorney knows what to look for and how to fight against lenders filing foreclosure actions in bad faith.
Elements of a Wrongful Foreclosure Lawsuit
If your mortgage lender did not operate in good faith, you can file a lawsuit requesting a dismissal of the foreclosure as well as compensation for your financial losses. However, you must prove specific elements of a wrongful foreclosure lawsuit before winning your case.
First, you must demonstrate that the mortgage lender owed you a legal duty, which should be established by the contract you signed with it. Next, you must show that they breached that duty by not abiding by the terms of the contract and Florida foreclosure law, and finally, that the breach caused you financial losses.
This is not a task you should attempt alone. Instead, get help from wrongful foreclosure attorneys in Florida, who will know how to prove what is needed for your case to succeed. They can review the terms of your mortgage and the lender’s behavior during the foreclosure process to look for inconsistencies or irregularities that prove a breach of duty and financial losses.
How Do You Calculate Damages in a Wrongful Foreclosure?
When you work with an experienced attorney on a wrongful foreclosure or attempted wrongful foreclosure case, they will know how to calculate damages and what to do to help you pursue compensation for the financial losses you suffered. These damages include the following:
- Lost equity
- Appraisal costs
- Costs of moving
- Legal fees
- Lost wages
You may also be entitled to money for your non-economic losses, which are more subjective and related to quality-of-life changes and can include:
- Emotional distress
- Damage to your credit
Calculating your economic damages is straightforward. But determining the value of your non-economic damages is not. A wrongful foreclosure lawyer can provide an accurate value based on the specifics of your unique case.
Statute of Limitations for a Fort Lauderdale Wrongful Foreclosure Claim
Suing for wrongful foreclosure proceedings may be the best way to recover the compensation you deserve for what you’ve suffered. However, you do not have unlimited time to do so. Florida law typically gives homeowners five years from the date of foreclosure actions to file a lawsuit over breach of contract. However, the statute of limitations that applies to you may vary depending on the circumstances of your case.
Your best course of action is to consult a skilled Fort Lauderdale wrongful foreclosure attorney to help pursue your rights and manage legal deadlines.
Contact the Wrongful Foreclosure Lawyers at Loan Lawyers for Help
The overwhelming power wielded by large financial institutions and lenders can make it easy for them to take advantage of borrowers. At Loan Lawyers, our Fort Lauderdale foreclosure defense lawyers want to even the playing field and help you fight for what’s yours. We aren’t afraid to take on big lenders who have engaged in wrongful foreclosure practices as we stand up for ordinary Floridians. To date, we’ve saved over 4,000 homes for our clients, and we want to add yours to our list. In addition to foreclosure defense, we also serve the citizens of the Sunshine State with our bankruptcy law and debt defense practices.
Are you concerned you are the target of a Fort Lauderdale wrongful foreclosure? Contact our Florida foreclosure denfense lawyers today and set up a free, no-obligation legal consultation.
