About Foreclosure Rights for Homeowners

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In order to foreclose on a piece of property, the lender must proceed in a fashion that has been set forth in the statute of a given state to provide notice and an opportunity to redeem the mortgage. Find out how foreclosure rights can vary from state to state with help from a civil mediator in this free video on foreclosure law.

Part of the Video Series: Foreclosure Help
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Video Transcript

You have not been able to make your mortgage payments and you have just received a notice in the mail that your particular lender is intending to foreclose upon your house and you want to know what are my rights? Hello I'm Robert Todd and I'm here to answer the question what are the rights of homeowners with regard to foreclosure? First of all please keep in mind that the foreclosure laws are going to differ in all 50 states so the first thing you are going to want to do is check out the foreclosure law in your particular state where your home is located but keep in mind that originally years and years ago lenders simply obtained and possessed the property on which they had loaned money without any type of judicial proceedings. So the law has gradually evolved where now to foreclose on a piece of property and particularly a home the lender must proceed in a fashion that has been set forth in the particular statute in your state so to the extent that you have rights, these rights are delineated in that statute and generally speaking you have to have been given notice and you have to be given the opportunity to redeem the mortgage, the attorney's fees and costs that are incurred in the foreclosure process. I'm Robert Todd and thank you for watching.

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