23 Legal Defenses to Foreclosure: How to Beat the Bank"
Author: Troy Doucet
440 pages
Publication date: 2008
Publisher: Custom Books Publishing
ISBN: 1438278195
Did you know that there are laws on the books that protect you AND help you defend yourself against the prospect of a mortgage foreclosure? Did you know that certain lending law violations may win for you punitive damages against your mortgage lender, including the cancellation of your mortgage loan?
One of the most useful and informative books that I have found dealing with the subject of mortgage foreclosures is "23 Legal Defenses to Foreclosure: How To Beat The Bank", an easy to read ‘how-to' manual that explains various defenses you the consumer have available to you when dealing with a mortgage loan foreclosure. There a total of 53 defenses to foreclosure that is contained within the book, all of which are covered in an easy to understand format.
The following are some examples of the legal defenses of foreclosure provided in the book:
- Truth in Lending Act (TILA) violations enabling rescission
- Truth In Lending Act (TILA) violations enabling damages
- Failure to Provide a Correct Notice of the Right to Rescind.
- Unconscionability
Each chapter is dedicated to one defense or counter claim (a lawsuit against your lender), and is broken down into parts as follows:
Defined: Provides the reader a brief explanation of what the defense is, and the ability to quickly understand the basics of the defense.
Spot It! This gives the reader the ability to quickly spot whether or not the defense applies to their situation.
Limitations: If the defense has limitations or drawbacks, it will be identified here.
Potential Recovery: What is the defense worth? Is it a tool that enables rescission of a loan, or is it worth only a few hundred dollars?
23 Legal Defenses to Foreclosure addresses specific Federal lending law violations that are valid defenses to foreclosure in every state, including:
•· Truth In Lending Act (TILA)
•· Home Ownership Equity Protection Act (HOEPA)
•· Real Estate Settlement Procedures Act (RESPA)
•· Fair Debt Collection Practices Act (FDCPA)
•· Failure to verify assets
23 Legal Defenses to Foreclosure also includes legal letters, forms, motions, an "Answer" to a foreclosure lawsuit, and sample discovery to get damaging information directly from your mortgage lender.
Chapters within the book are broken into sections that include:
- A Definition of the legal defense
- The damages available
- A litigation strategy
- Elements and factors to prove in court
- Checklist and worksheets
- Whether you can sue others
The author is Troy Doucet, a Juris Doctor candidate in Ohio whose previous career was in residential loan origination for many years. Mr. Doucet gained notoriety within the mortgage industry several years ago when he called for the elimination of all junk fees in mortgage loans. Since leaving the mortgage industry in 2006, Mr. Doucet has pursued his law studies as well as performing Forensic Mortgage Loan Audits for TILA and HOEPA violations. Additionally, Mr. Doucet assists attorneys nationwide in combating foreclosures on behalf of consumers.
Although this book is an excellent reference guide for consumers to better understand the foreclosure process and the rights afforded to them under the law, it is not the author's intent to suggest this book as replacement for competent legal counsel.
23 Legal Defenses to Foreclosure is a must read for anyone presently in foreclosure or facing the prospect of a property foreclosure. Knowing your rights and proper defenses under the law could help you keep your home, and possibly own your home debt free too! On a scale of 1 to 10, I give this book a solid 10.
23 Legal Defenses to Foreclosure sells for $39.95. To order a copy of the book "23 Legal Defense to Foreclosure: How To Beat The Bank", go to www.Amazon.com or you can purchase the book directly from the publisher at www.CreateSpace.com/3349582.
Mike Sikorski MBA, GRI
Licensed Real Estate Broker
Licensed Mortgage Broker
Forensic Mortgage Loan Auditor
MLS OF FLORIDA REALTY CORP.
22079 Kimble Avenue
Port Charlotte, Fl. 33952
Phone (941) 206-6000
Comments(0)