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An Undeserved Foreclosure

Recently, I was talking with one of my neighbors who had received a foreclosure notice out of the blue despite the fact that they had been paying their mortgage and had not received any notice of deficiency in relation to their payments. They were stressed and frustrated, and they asked me if they needed to hire a lawyer. I had very little knowledge of the subject at the time, so I decided to do a little bit of research to see if I could find an answer for them. While I was doing research, I came across the website for Smith Kendall, PLLC, which provided quite a bit of interesting and helpful information on the subject.

I learned that there are many different ways that lenders unfairly foreclose upon homeowners, all of which are illegal. Banks can fail to provide appropriate notice of foreclosure if they begin the process of foreclosing on a home but do not inform the homeowner that they have missed payments. This is illegal because it does not allow the homeowner to take steps to remedy the situation and prevent losing their home because they are unaware that the process has begun. Second, lenders can be said to have “bad faith” on the loan. This happens when the lender delays or refuses payments on the debt that then leads to foreclosure, which would cause you to lose your home even if you did everything right. Also, lenders might overcharge for late payment fees, which are set at a regulated level, and these excessive charges can create a vicious cycle ending in foreclosure. Finally, lenders can offer loans with unfair terms that result from tricking their client, which makes foreclosure illegal as well.

Experienced lawyers can do several things when they help their clients fight wrongful foreclosure cases. Lawyers can help you stop foreclosure or reverse a wrongful foreclosure if the lender does not follow the strict regulations that banks and lenders must comply with when undergoing the foreclosure process. These guidelines are dense and specific, so it is important for a person who is being wrongfully foreclosed upon to seek legal help to ensure that no violation of compliance is missed by the court. Additionally, lawyers can help their clients recover funds after a foreclosed home is sold. If the bank is able to sell the home for more than is owed to the bank, the bank must pay the homeowner the remaining balance. This almost never happens unless the bank is forced to make this payment by an attorney. Lawyers can also help you file for bankruptcy if the bank is pursuing access to other assets using either Chapter 7 or Chapter 13 bankruptcy. This can help debtors retain control of unrelated assets that are at risk of seizure by their creditors.

I will definitely recommend that my neighbor consults with a lawyer quickly about the foreclosure notice they received. The legal side of the foreclosure process seems to be complicated enough that it would be extremely difficult to find success if you represent yourself, and even if you represent yourself and win, you might be leaving money on the table that an experienced lawyer would not.

Reducing Roof Maintenance Costs

They say prevention is the best kind of cure, and that works equally well with your health and roofing, especially for commercial roofing. The costs of maintaining a building’s roof become significantly smaller when trouble is anticipated rather than met.

Roofing repairs are inevitable in commercial building’s maintenance cycle as regular wear and tear make them necessary. However, when a roof is regularly inspected and maintained, the cost of any repair will be much lower than if it is allowed to deteriorate unnecessarily. When a building manager reacts to a roofing problem when it occurs, they pay about 25 cents per square foot a year as compared to the costs of regular maintenance and inspection that avoids most commercial roofing problems at 14 cents per square foot. In addition to being less expensive, it helps prevent issues that might compromise their building’s code compliance.

It would also be important to note that commercial roofing that is subjected to proactive maintenance last nearly 40% longer than indifferently maintained ones before it needs to be replaced. This translates to huge savings in the overall building maintenance costs.

However when assessing bids for roof maintenance contracts it is important to look ahead beyond the bid price. The lowest bid is not necessarily the best, because it could be leaving out crucial long-term aspects of maintenance. The roofing contractor should be able to give an in-depth analysis of the existing and potential problem areas of the roof beyond what the human eye can see and a plan for how to avoid them. When a roofing contractor has an established business in the area, they are less likely to give the lowest bids because they are in for the long haul. One-shot bid contractors are interested in getting the contract and doing a flit when the excrement hits the fan. Choose a bid once you have established the bona fides of the roofing contractor and considered which maintenance contract appears to be the most proactive.