What Is Wrongful Foreclosure?

Wrongful foreclosure is when a lender or institution forecloses on an individual and sells his or her home illegally — or uses methods that are outside the bounds of the law.

For instance, if a person begins the foreclosure process, and a lender or institution accepts partial payment from that individual but continues with the foreclosure, it can be a wrongful foreclosure. If you believe this has happened to you, you need the help of Healey Law LLC to fight tirelessly for your rights.

Understanding HAMP

This happens all the time to individuals, and many don’t realize that it could be illegal. Federal laws such as the Home Affordability Modification Program (otherwise known as HAMP) and the Truth in Lending Act, as well as Missouri laws, provide protection to consumers who are victimized by the large banks and the entities that service their mortgages.

One particular area which seems to create persistent problems for consumers is the failure of the banks to comply with the requirements of the HAMP program. It was designed to help provide consumers who were struggling with their mortgage payments an opportunity to apply for a modification that could reduce the amount of the consumer’s monthly mortgage payment.

The process is supposed to involve an application for modification by the consumer, followed by a trial modification proposal for applicants deemed to have qualified, and then the offer of a permanent modification for those who have successfully completed the trial modification.

From banks misplacing these documents to being denied, the process rarely goes as planned. Our office sues banks and mortgage companies for engaging in these kinds of unreasonable and unfair tactics.

Don’t Wait: Call Today

If a bank or mortgage company has foreclosed on your home and you feel it did so improperly, or if something about the process did not seem right, we can help. We work on a contingency basis and only charge a fee if we recover an award for you. Call our Chesterfield office today at 314-401-3261 or fill out our contact form.