Want to Be Sure You Stop Foreclosure?
When you find yourself in a position in which you are facing foreclosure on your home, you might worry that there’s nothing that you’re going to be able to do. The first step in stopping foreclosure is to let go of that notion; the first thing that you need to do is to recognize that it is possible to stop foreclosure - provided you know what to do next.
In order to stop foreclosure, you’re going to want to know that you’ve done everything - and that means looking into your original mortgage loan and seeing whether or not rescission of you mortgage is possible.
Mortgage rescission is a policy that’s been put in place that is based on the Truth in Lending Act. When laws have been violated and it can be shown during a mortgage audit, you’ll find that foreclosure is no longer something that you’ll be facing; foreclosure will be off the table. Your obligation to the lender will be gone, prepayment penalties will be gone, and all of the money that you have paid to the lender will be returned to you.
In other words, if you are eligible for a mortgage rescission, you’ll be able to do far more than just stop foreclosure on your home.
