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Legal Eagle
Legal Eagle, Lawyer
Category: Real Estate Law
Satisfied Customers: 5208
Experience:  Licensed to practice before state and federal court
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I am going to court 8/3/17 to determine if Ocwen and

Customer Question

I am going to court 8/3/17 to determine if Ocwen and Duetches bank can foreclose on my property. This has been dragging on for 9 years. I have the original note showing the appraisal at 170,000 in 2002. We were told that we could re fi in 2004. Only to find out we were lied to and the house even after all the up date was now worth 140,000. You can imagine what happened after the market crash. I have both appraisals showing the decline or what I believe is a misrepresentation of the house value to meet there goals. Can the fact that they lied about the real cost void the mortgage?
JA: Is this a fixed-rate or adjustable-rate mortgage?
Customer: fixed 8.95
JA: Where is the property located?
Customer:***** 14210.
JA: Anything else you want the lawyer to know before I connect you?
Customer: Also they want over 126,000 in fees in a balloon payment.
Submitted: 2 months ago.
Category: Real Estate Law
Expert:  Legal Eagle replied 2 months ago.

Hello! I am a licensed attorney, eligible to practice in front of state and federal court, who is ready to help. I have a nearly 100% satisfaction rating (click here to see my ratings information) so all that means is that you can count on me to help today. I'm very sorry to hear about your situation. Although I don't know the exact specifics of your situation, you may have something that you can use to help defend against the Foreclosure action. This seems like an issue of unfair business practices which could give you some compensation if you were to bring a lawsuit.

1.To establish that there was an unfair practice, there must be a representation, omission or practice that is likely to mislead the consumer;

2. The representation is examined from the perspective of a consumer acting reasonably in the circumstances; and

3. The representation, omission or practice must be material enough to affect the consumer’s conduct or decision, even though no actual reliance is required.

In this case, if they overvalued the value of the house, then you may be able to take some additional action. Typically, the Department of Finance were thinking in your state or even the Federal Trade Commission or typically the organizations that can step in and help you. I don't know whether they can help stop the Foreclosure, but they may be able to issue an injunction until they're able to get the situation fixed. An injunction is a legal action where prohibits one-party from doing something or forces them to do something. In your case, a judge could order that the foreclosure proceeding stop until the issue of unfair practices is settled.

Follow up questions are free, so please feel free to ask away. You can also click here in the future to request me individually. If you don’t have any additional questions, were you satisfied with my service today?

Expert:  Legal Eagle replied 2 months ago.

Hello, it’s been awhile since we connected so I wanted to check in with you to see if you had any further questions or if there is anything else I can assist you with today. Please reply here and let me know. Thank you.