Many homeowners facing foreclosure come home to find the locks on their doors changed out. They are locked out of their own home. We have seen lenders do this to homeowners who still own and live in their home. In one example, an American Veteran was facing foreclosure. He went to the hospital for some medical treatment.
He came home to find the locks on his home changed. All of his personal belongings had been put out at the curb. Some items were missing. Don't be surprised that this is happening. We recently saw a story that Bank of America allegedly foreclosed on a paid off house. If this does happen to you, then please remember that the lender is breaking the law. They are not allowed to change out the locks on your home until they have completed the foreclosure proceedings and evicted you from your home.
(Most lenders usually pay homeowners to move rather than bother with an eviction.) It is your home and you own it until the lender has foreclosed on it. In addition, you still have the right to live there until an eviction is finalized. Fortunately homeowners have rights (although the banks don't think that they should.). Here is what you should do if this happens to you.
1. File a police report against your lender for breaking and entering.
2. Contact your senators, and the Attorney General for your state.
3. Hire an Attorney and get some cash for your aggravation. In the example above, the Veteran received compensation for having his rights violated and was reimbursed for the missing personal belongings.
People get paid whenever a large corporation breaks the law. I estimate that you can get between $5,000 and $10,000 for your time and money. The lenders are breaking the law and should face criminal and civil penalties. The lawyer representing you has a lot of leverage because he can subpoena the bank and find out the employee who made the mistake. That employee and the person who actually came out to the house could face criminal charges. It will be less expensive for your lender to pay you versus having to deal with an employee facing criminal charges and jail time.
He came home to find the locks on his home changed. All of his personal belongings had been put out at the curb. Some items were missing. Don't be surprised that this is happening. We recently saw a story that Bank of America allegedly foreclosed on a paid off house. If this does happen to you, then please remember that the lender is breaking the law. They are not allowed to change out the locks on your home until they have completed the foreclosure proceedings and evicted you from your home.
(Most lenders usually pay homeowners to move rather than bother with an eviction.) It is your home and you own it until the lender has foreclosed on it. In addition, you still have the right to live there until an eviction is finalized. Fortunately homeowners have rights (although the banks don't think that they should.). Here is what you should do if this happens to you.
1. File a police report against your lender for breaking and entering.
2. Contact your senators, and the Attorney General for your state.
3. Hire an Attorney and get some cash for your aggravation. In the example above, the Veteran received compensation for having his rights violated and was reimbursed for the missing personal belongings.
People get paid whenever a large corporation breaks the law. I estimate that you can get between $5,000 and $10,000 for your time and money. The lenders are breaking the law and should face criminal and civil penalties. The lawyer representing you has a lot of leverage because he can subpoena the bank and find out the employee who made the mistake. That employee and the person who actually came out to the house could face criminal charges. It will be less expensive for your lender to pay you versus having to deal with an employee facing criminal charges and jail time.
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