When a foreclosure action starts, you have several rights—however—the cost of asserting those rights varies greatly. Every homeowner has a right to fight the foreclosure action in a Rule 120 hearing, which is a hearing before a judge. Every homeowner can also seek an injunction to stop the foreclosure process.
The benefit of a Rule 120 hearing is the lower costs (a few dollars) and attorney’s fees that are required in defending your rights. The downside is, however, that you must act quickly—your right to a Rule 120 hearing will be lost quickly after you are served with the notice of the hearing. Michael Robinson and I have experience in successfully defending homeowners in Rule 120 actions. (See our article in the Douglas County News-Press, “The Foreclosure Fight is On” at http://www.dcnewspress.com/site/tab11.cfm?newsid=19790666&BRD=2713&PAG=461&dept_id=559196&rfi=6)
An injunction allows a homeowner to raise more defenses to the foreclosure action than in a Rule 120 hearing. Unfortunately, the homeowner must post a bond. Also, because the injunction is a full trial, attorney fees and court costs can be expensive. You have the right to fight the foreclosure process, but you must act. If you have any questions regarding the foreclosure process, please contact us to schedule a time to discuss your foreclosure problems. Bill Henry
Friday, June 27, 2008
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1 comments:
Theres a lot of advantage when you take an action in foreclosure.I totally agree with you.Thanks for sharing your views about this interesting topic.
-Audrey
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