Phh Mortgage Lawsuit: Pros and Cons of Filing a Foreclosure Lawsuit
November 11, 2020
The Pros and Cons of Filing a Foreclosure Lawsuit
Phh Mortgage lawsuits are filed by borrowers who have defaulted on their mortgages and can no longer afford to pay. The plaintiff’s primary objective in filing the lawsuit is to obtain a judgment of repossession, which will force the lender to sell the property to recoup its losses. In order to obtain this judgment of repossession, a plaintiff will often need to prove that the defendant was aware of the default in the property loan contract, which is commonly known as “willful ignorance.”
A judgment of repossession is a very damaging result for any mortgage and one that many homeowners are seeking to avoid when filing a lawsuit against a lender. Although the outcome of such lawsuits is not always a foregone conclusion, it is important to understand that such cases can take years to resolve, making it more important than ever to act swiftly to obtain a reasonable judgment of repossession. Fortunately, homeowners can often obtain some form of a fair judgment of repossession through a lawsuit brought by a reputable attorney.
The plaintiff’s attorney will review the borrower’s case and determine the merits of the case based on evidence provided by the borrower, including information provided by the lender. If the court determines that the lender’s evidence was insufficient to support the claim against the borrower, the court will make an equitable determination based on the totality of the circumstances. If the court decides in favor of the plaintiff, the court will require the defendant to pay the plaintiff’s legal fees, which is generally a portion of the proceeds of the sale. If the court orders the sale of the property without awarding a judgment of repossession, the plaintiff is entitled to collect his or her legal fees.
One of the most common aspects of Phh Mortgage lawsuits is the “remedy” that is typically awarded to the plaintiff. Such remedies are typically based on the principle that a plaintiff can bring a lawsuit only if the plaintiff is unable to procure a fair judgment of repossession. For example, the remedies available to plaintiffs who are able to show that the defendant knew of the default in the property loan contract include: a judgment of repossession, a temporary restraining order, and the awarding of attorney’s fees. These remedies are usually awarded to plaintiffs who are able to prove that the defendant failed to provide a clear explanation of why the default did not become public knowledge.
One of the best ways to avoid Phh Mortgage lawsuits is to ensure that the lawsuit is brought by an experienced litigation lawyer who will conduct the case aggressively and efficiently. This type of attorney will review all documents related to the case and will review all documentation related to the case in order to prepare and submit a convincing lawsuit. for a fair, equitable determination. The plaintiff should also be mindful that a judge of a lawsuit of this nature is usually sympathetic to the homeowner’s position, so long as it can be shown that the plaintiff has presented the case in a reasonable manner. rather than in an attempt to obtain a favorable result.
Foreclosure victims must recognize that their lender may not stop foreclosures immediately. In some instances, the lender may decide to hold on to a property and refinance the mortgage at a later time, which means that homeowners may not have enough time to receive a court order of repossession prior to the expiration of the applicable statute of limitations.
Although foreclosures can be expensive, they are not necessarily a terrible outcome. When the lawsuit process is completed and a judgment of repossession is obtained, homeowners can be confident that the lender will sell the property at a fair price and obtain a fair judgment of repossession, and that the lender will not have to continue to work with foreclosure victims in the future.
As a homeowner, you should consult with your attorney before you file a lawsuit. An attorney can advise you as to how to obtain the right judgment and what defenses can be used to obtain a fair judgment of repossession.