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Saturday, 14-Jan-2012 09:05 Email | Share | | Bookmark
Don’t Lose Your Home To An Illegal Foreclosure

Foreclosure rates across America remain astronomically high despite the Obama Administration’s HAMP program designed to give people at risk of losing their home to bankruptcy and foreclosure much needed help. However, many predatory lenders have no interest in approving loan modifications, or else their predatory lending practices may be exposed.

With a sharp rise in foreclosures, we have also seen the number of predatory foreclosures and illegal foreclosure rise as well. Thankfully, you have options for protecting yourself from the illegal foreclosure of your home. Lenders such as Bank of America, are just trying to steal as much as they can from homeowners before grabbing the property out from under them and reselling it for a profit. These lenders do not care about anything other than their bottom line, and have no problems with attempting to steal property through illegal foreclosure.

A predatory foreclosure, or if you prefer an illegal foreclosure, happens when a bank tries to foreclose on a property they no longer have the legal right to foreclose on because they did not follow the securitization process properly. Securitization is a process where the title is separated from the home loan so that the loan can be traded and sold as a security, much like stocks and bonds are traded. Nearly 85% of all home loans in the last decade have gone through this process. There are a large amount of regulations involved in securitizing a mortgage loan, and if this process is not followed correctly, it is no longer clear who has a legitimate claim to the title of the property, since the title became separated from the loan and lost track of. This means that if you are facing foreclosure, it may be an illegal foreclosure.

If you are a victim of a predatory foreclosure, one way to fight back is by obtaining a securitization audit. A securitization audit is a forensic audit that will examine all of your home loan documents and discover if you home loan was securitized correctly. If any violations are discovered, that means the foreclosure is illegal and that it must stop immediately. Banks hate securitization audits because they provide indisputable evidence that will prove to the courts that you are the victim of a predatory foreclosure. A securitization audit will be able to tell if your mortgage has been securitized correctly, and if the bank has used any robo-signers on your documents, it will also be able to prove those actions, which are typically part of an illegal foreclosure.

This is why if you need foreclosure help, you should not hesitate to contact Tila Solutions to give you the foreclosure help you need. For over a decade, Tila Solutions has been looking out for the homeowner with their forensic loan audits and securitization audits. If you need help stopping foreclosure, a Tila Solutions Consultant is available by telephone at (702) 508-0335. Or you can visit the Tila Solutions website at bankruptcy and foreclosure.


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