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Monday, June 18, 2007
How to defend foreclosure actions.

Defending against foreclosures

Among the many ways that CREDITWRENCH can help consumers is step by step teaching students the essential elements of defending against foreclosure. One of the ways that can be done is to prove that the plaintiff has no standing to sue or at least something to that effect. A case in New York known as Deutsche Bank Natl. Trust Co. v Castellanos. This was a case in which the defendant used the fact that Duetsch Bank did not own or hold an interest in the property so had no standing to sue.

Since Duetsch Bank not only lends money for mortgages but also acts as trustee for other banks and mortgage lenders, how the defense must be handled depends on many factors so this case is not a cure all for all foreclosure case but it does at least
reveal the basics of setting up such a defense.

If one has enough experience in dealing with foreclosure cases then setting up this type of defense is pretty easy and since it is so straight forward there are never any problems of getting the job done right.

And of course, such strategies are not going to result in anybody getting their house for free and the true holder in due course of the note will finally get it done right. The most likely scenario is that one might well be able to cause so much delay and problems for them that they will eventually agree to a settlement that the homeowner can live with or he will be able to find a lender who will buy the note and bail him out of trouble that way.

If the homeowner is in such financial shape that he will never be able to pay the home off then he might be better to do a deed in lieu of foreclosure or maybe take Bankruptcy or whatever he has to do to get himself out of an intenable situation.

On the other hand, if the condition which led to the foreclosure has been cured and the homeowner has some money saved up to do some meaningful cash payment to the lender then he might well benefit from fighting the lender down to the point where some settlement can be negotiated.

In most cases Creditwrench methods can help smooth the road to a reasonable settlement allowing you to keep your home.

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