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If A Lender Makes A Misrepresentation, Could A Restraining Order Stop A Foreclosure?
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The following paragraphs will apply the words “fraud” and “misrepresentation” basically, nonetheless be sure to recognize that these phrases may have widely unique legal interpretations in a number of states. To illustrate, some states have regulations that control debt collection measures which bar certain types of scams and misrepresentations by creditors and also by collectors that could be relevant to a foreclosure in addition to a “normal” fraud or misrepresentation case. Your locale could have comparable consumer safety statutes. Remember, if you think your mortgage company has lied or made misstatements to you at any point throughout a foreclosure process; see an attorney in your area to figure out if your unique details will give rise to a violation that may possibly prevent a foreclosure.

What misrepresentations a mortgage company may make to a person are too countless to include. Generally, when a lender claims it's going to do something and after which does something else, it could be a misstatement giving rise to a violation. For instance, expressions which might lead to legal responsibility (dependent upon the facts) are:

- If a mortgage company represents that it will not foreclose on the house on a specified day and subsequently forecloses nonetheless;

- If a creditor provides that a borrower has been qualified for a modification or simply gives the borrower a modification agreement and after which doesn't modify the mortgage loan; or

- If a financial institution states that a payment would be put on the loan in a certain way and subsequently puts it differently.

There can be quite a few possible problems in a fraud or misrepresentation suit. Several forms of misrepresentations might have to be made on paper to become binding. Some representations perhaps may not produce a misrepresentation. A legal professional informed about these kinds of lawsuits in your area is surely a priceless source of information to you if a violation has taken place.

Stopping a foreclosure due to a misrepresentation regarding a specific foreclosure sale may additionally fail to turn into long term alternative. If the bank made a representation that the foreclosure is going to be postponed, but it is advancing with the foreclosure, a restraining order may be one of many foreclosure options, but the bank would only need to re-post the residence for foreclosure and keep from making any misrepresentations as to another foreclosure. This type of lawsuit could possibly prevent the foreclosure, but nonetheless , a follow-up approach should be on hand to deal with the delinquency. Again, if you think that your particular financial institution has made a material misrepresentation to you leading up to a foreclosure, please make sure to seek out a legal professional licensed where you live.


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