Answer that was filed in a multi million dollar lawsuit where the claims where breach of contract and Equitable relief and Lien Foreclosure
Notice of Expedited Foreclosure Sale
Expedited Foreclosures: If you move out of your home before a foreclosure becomes final, the lender may pursue an expedited foreclosure, also known as a fast-track foreclosure. To trigger an expedited foreclosure, the lender must file a motion alleging that the home has been abandoned and may be at risk of harm.
If a lender who was not the original holder of your promissory note has initiated a foreclosure action against you, the lender must prove that it has standing to foreclose on your home in the place of the original lender. If they cannot do so, you may be entitled to have the complaint against you dismissed.
The original note on a mortgage is called the “Promissory Note”. It is the signed document at closing containing a written promise by the borrower to pay a stated sum to a specified lender or the bearer at a specified date or on demand.
A foreclosure “trustee” is the party who handles a nonjudicial foreclosure. … The law prohibits an attorney from serving as a trustee while simultaneously representing the lender.
The judicial foreclosure process starts when a lender sues a delinquent borrower in the county where the property is located. To initiate the suit, the lender (the plaintiff) files a document called a “complaint for foreclosure” or “petition for foreclosure” in court. Plaintiff’s complaint for breach of contract, failure to provide notice pursuant to the security deed and failure to act in good faith and fair dealing regarding plaintiff’s loan modification and terms of the security deed, violation of Georgia Fair Lending Act, wrongful foreclosure, negligence, emotional distress, punitive damages, attorney’s fees and expenses.
The judicial foreclosure process starts when a lender sues a delinquent borrower in the county where the property is located. To initiate the suit, the lender (the plaintiff) files a document called a “complaint for foreclosure” or “petition for foreclosure” in court.
If you’re facing foreclosure, you might be able to stop the process by filing for bankruptcy, applying for a loan modification, or filing a lawsuit. If you’ve fallen behind on your mortgage payments and a foreclosure sale is looming in the very near future, you might still be able to save your home.
– Respond to the summons and complaint the bank or mortgage company serves you. …
– File an answer to the foreclosure complaint stating your arguments for contesting the foreclosure. …
– Submit statements under oath pertaining to any additional evidence you have proving your position.
Once the home is sold, the new owner has the option of evicting anyone who remains in the home. A minimum of four months has elapsed by this point, and this is the first time in the foreclosure process that anyone can legally ask you to leave.