Homeowner Rights - What You Can and Can't Expect

Foreclosure can be scary, especially if you don't have a way out of it, or haven't acted quickly enough to take advantage of your options. However, just because a foreclosure is in progress doesn't mean you've lost all your rights. There are a number of homeowners rights on a foreclosure. Many people don't know what they're entitled to, even if they're in the process of losing their home. It's important to be familiar with your rights during a foreclosure, so that unscrupulous lenders don't get away with more than they're allowed by law.

You Have The Right To Negociate

First of all, you have the right to negotiate with your lender, both before and after the foreclosure process begins. Chances are, you'll be more effective if you begin early, as both you and the lender have more options. Remember that your lender would prefer not to foreclose if possible, since foreclosure is inconvenient and costly.

You Can NOT Be Kicked Out Of Your House Early

You also have the right to remain in your home during the foreclosure. Depending on who eventually purchases the house at auction, you might be asked if you want to stay on as a renter. Up until the point that the home is sold, you cannot be evicted. Only after the auction does your state's eviction process begin. How long this process will take varies by state and locality. It's important, if you're undergoing a foreclosure, to know that you can't be kicked out early, and that the new owner must comply with the legal eviction process.

You Have The Right To Put Up A Fight

You have the right to fight the foreclosure if you believe it to be wrongful. If the lender hasn't followed the right process in filing the foreclosure, or has made an error that put you into default when you actually paid on time, a wrongful foreclosure can be declared. In locations where the laws permit it, this can even happen after the foreclosure and sale of the property. Check your local laws to find out exactly how this works in your area.

Learn Your Rights And Take Action

Knowing your rights in a foreclosure can help you get out of a bad situation and avoid abuses by your lender or by others. It's important to take action when foreclosure is impending. One of the best ways to take action is by learning about all your options. If you know what you and your lender can and can't do, you'll have a better chance of avoiding the foreclosure in the end.

You Have The Right To Look For Help

You might feel lonely right now, but the fact is, there is help available. The Foreclosure Emergency Kit for example will help you regain control over your situation. Claim your FREE copy here.