Tip:
Highlight text to annotate it
X
Hey. I'm Steve Kramer of the Kramer Law Firm. And today we're
going to be talking about some of the defenses to foreclosure.
And one of those is that the lender failed to mitigate their
damages. Now if you're dealing with a foreclosure, you probably
tried to work something out with the bank. You probably tried to
do a short sale or a modification, it's probably been
a very frustrating process and you probably feel you've been
*** around by the bank. The bank loses documents, you get
offers on your house for a short sale and you don't get a
response from the bank. You just feel like you're talking to a
brick wall and you're not getting anywhere. The thing is
that in your foreclosure case - now that you probably been
served if we're talking about a defense - you've got an
opportunity to raise a defense that the lender hasn't mitigated
the damages. They haven't worked with you to come to a
resolution. They haven't responded to your short sale
offers. They haven't responded to your efforts to modify. They
haven't done their job. And all the while, you've been trying to
give them back this house, get the thing sold, work something
out. You're trying to everything you can do and they're just not
being receptive. And the thing is your house value maybe
decline while your case is going on and you shouldn't be
responsible for difference from when the case started and to
here, if you gave the bank the chance to take back the property
in the beginning and now they don't want it. And now they're
claiming they're owed all this extra money. The point is that
the lender has a duty to work with you. Just like if you had a
lease with somebody and you breached that lease - meaning
you stopped paying your rent and the lease is for three years -
they just can't sit on that property and say you owe me
three years of rent. They've got a duty to get another tenant in
there, somebody else to pay the rent. And you're going to be
responsible for that different possibly but you shouldn't be
responsible for the full amount. And that's the same thing we're
talking about here. Even if we're taking the position you're
responsible for less it's still one defense that we can raise
with the ultimate goal of making sure that you don't owe money at
the end. That you get out of the property clean or if you want to
keep the property, you have some leverage to make the bank work
with you so that you can keep your property. Why am I telling
you this? Because I deal with this stuff every day. And you
probably have questions. If you do have questions, I'd love to
talk to you. Call me at the number below. If you're actually
watching this on Facebook or Youtube, also click the "Like"
button below. This way your friends and family can benefit
from this information. Again, if you have any questions, call me.
I'm Steve Kramer of the Kramer Law Firm. Thanks for watching.