How Does Induced Default Defense Work in Florida Foreclosure?

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As you can see from watching the video, induced default defense can be a particularly powerful defense to foreclosure because the bank is essentially tricking you into getting behind on your loan.

Now, the specific person you spoke with probably wasn’t doing this intentionally – that’s just the information that they were given – but that does not change the fact that a representative of the bank gave you bad information that made your problem worse.

How bad can this be for the bank? In working Altamonte Springs foreclosure defense cases for the last several years, our attorneys have seen judges really stick it to banks for this shady business practice. While it is usually not this one-sided, there was a recent case involving an induced default defense where the judge:

  • stopped the foreclosure
  • wiped away all of the fees that the bank was trying to charge
  • said the homeowner did not have to make any of their mortgage payments for the duration of the attempted foreclosure – about three years!
  • had the bank pay all of the homeowner’s legal fees since they won the case

Speak with an experienced Florida attorney at our firm today.
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How Can You Use Induced Default Defense in a Foreclosure Case?

Of course, no judge is going to react so harshly without lots of documented proof of bank-induced default, so here is what you have to do.

  • Before you call the bank, make sure you have a pen and paper handy. If possible, you can even try to get them to email the information to you.
  • Explain your situation to the representative and ask about what options you have – short sale, loan modification, et cetera.
  • If they tell you to stop paying because they can’t help until you go into default, make sure to get their name and jot down the date and time.
  • Give this information to your attorney and they will write a letter for you to send to the bank detailing your conversation with their employee. Only in rare cases will banks actually read and refute these letters – so the letter serves as documented evidence that can become part of your induced default defense to foreclosure down the road.

Induced Default Defense Can Be One of Many Foreclosure Defenses

An Altamonte Springs foreclosure can be tough to beat, but it is not impossible. The important thing to do is get professional legal advice as early as possible and always be thinking about your potential foreclosure defense so that you are ready to provide proof of facts that might be helpful.

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