Recent reports show property values across the nation beginning to increase, and with it perhaps the possibility of foreclosure. This situation is because lenders know that they will be able to recover more money at foreclosure sales now as buyers show more interest. For some time in the wake of the market collapse, lenders were stuck with very lengthy foreclosure processes, and in many situations found it less expensive to allow the homeowner to stay in the property and maintain it. However, this is increasingly not the case as the lenders stand to unload the properties at a higher selling price, many times to cash buyers.
During times like these, when lenders are rushing to foreclose and sell properties, it is important that borrowers make sure their rights are not being violated. The newly enacted California Homeowner’s Bill of Rights gives borrowers rights and remedies against illegal foreclosures, and makes sure they are compensated if they have been victimized. A homeowner who has suffered a foreclosure in 2013 and after should contact our office to determine whether their lender-servicer has violated their rights under this new California law. Our California attorneys are happy to evaluate a homeowner’s claim during a free phone consultation.