Foreclosure defense tactics and strategies

This is a discussion on Foreclosure defense tactics and strategies within the Debt Collection forum, part of the BANKRUPTCY & DEBT COLLECTIONS category; I have a mortgage with Beneficial/HSBC/HFC; upon reviewing the closing documents, I see there's an "Arbitration Rider"; I am currently ...

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Old Jan 14th, 2014, 02:03 PM   #1
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Default Foreclosure defense tactics and strategies

I have a mortgage with Beneficial/HSBC/HFC; upon reviewing the closing documents, I see there's an "Arbitration Rider"; I am currently trying to defend against their attempt to foreclose with the intention of 1) keeping my property, 2) modifying the loan and resuming payments, and 3) avoiding Chapter 13; is there any use/utility to the "Arbitration Rider" in my situation?
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Old Jan 14th, 2014, 02:17 PM   #2
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Default Re: Foreclosure defense tactics and strategies

I wish to inform you that you may opt for arbitration if you intend to litigate the matter with lender. In this foreclosure may be stopped for sometime till matter of your arbitration is not determined provided you obtain arbitration order that house must not be sold till completion of litigation process. You may start arbitration proceedings and have a stay order on foreclosure.

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Old Jan 14th, 2014, 03:04 PM   #3
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Originally Posted by TigerMike View Post
I have a mortgage with Beneficial/HSBC/HFC; upon reviewing the closing documents, I see there's an "Arbitration Rider"; I am currently trying to defend against their attempt to foreclose with the intention of 1) keeping my property, 2) modifying the loan and resuming payments, and 3) avoiding Chapter 13; is there any use/utility to the "Arbitration Rider" in my situation?
What defenses do you have to the foreclosure? Have you applied for any refinancing that is pending?

Foreclosure and mortgage defenses total over 100 which can be raised in the litigation process by a knowledgeable foreclosure defense lawyer. The plusses of litigating are many when defended by such a lawyer, something that arbitration does not offer.

Protracted discovery is just one. Defenses against the mortgage itself. Audits of the account which often turn up discrepancies. Forensic audits of the documents, another. Foreclosures defended properly can take two or more years to get to court.

Unless you have a strong defense to the morrtgage and/or balance claimed, I, for one cannot see the benefits of arbitration which may be only an hour or two, far less formal than the litigation process, which is more likely to result in an adverse judgment. Decisions of the arbitrator become binding by virtue of court order then. There are no "tactics" or "strategies" I can see benefitting one by submitting to arbitration. Especially when one's home is on the table.

My recommendation is to seek counsel instead of a knowledgeable foreclosure defense lawyer and have that attorney evaluate the chances of saving your home.
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Old Jan 15th, 2014, 10:16 AM   #4
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Default Re: Foreclosure defense tactics and strategies

I live in "upstate" South Carolina, US near Rock Hill; don't know how to find an attorney that's focused on "foreclosure defense" as most in this area seem to be primarily bankruptcy types... any ideas?
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