What are some of the remedies available for foreclosure defense?

In New York, there are several legal remedies that may be available to those facing foreclosure. The most common defense is to argue that the homeowner has been the victim of predatory lending. Predatory lending occurs when a lender makes a loan on unfavorable terms, such as a high-interest rate, or a loan with hidden fees. In New York, a homeowner may be able to challenge the lender if they have been the victim of predatory lending. Another remedy for foreclosure defense is to challenge the lender’s right to foreclose. This remedy is sometimes called the “show me the note” defense, because the homeowner can ask for proof that the lender is the actual owner of the loan. This proof can be in the form of a promissory note, mortgage or deed of trust. Without this proof, the lender may not be able to foreclose on the home. Finally, a homeowner facing foreclosure may be able to file a lawsuit against the lender for wrongful foreclosure. This is a civil claim that alleges the lender has broken the law in some way, either by failing to follow the terms of the loan agreement or by engaging in malicious or fraudulent behavior. If successful, the homeowner may be able to collect compensation for the damages caused by the lender’s illegal actions. Overall, foreclosure defense in New York is a complicated process that requires the help of an experienced attorney. It is important for homeowners to understand the remedies available to them and take the necessary steps to protect their legal rights.

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What are some of the remedies available for foreclosure defense?

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