Some practical tips from a prominent foreclosure/repossession defense attorney (written mainly for a US audience but I'm sure much of it applies here):
You have to give lawyer Mark Stopa points for bluntness.
He's one of a number of Tampa Bay foreclosure defense attorneys who have been marketing a simple strategy:
If you suspect foreclosure is imminent, stop making your monthly house payments. Hire a lawyer to frustrate the bank. Use the yearlong delay to build a nest egg with the deferred house payments. Enjoy living in the house mortgage-free.
"The biggest mistake homeowners make is to keep paying when they know they're in trouble," Stopa said this week...
His prime delaying tactic is asking a judge to dismiss a case under the loophole that the originating lender isn't the same one initiating the foreclosure. It can take bank attorneys half a year to sidestep the legal minefield.
Stopa assumes bankers are more amenable to modifying and refinancing mortgages once they've been slapped around a bit. He said lenders have stiffed consumers of their share of billions of dollars of stimulus the government poured into the banking system.
Delaying foreclosure can lead to ethical 'heebie jeebies' - St. Petersburg Times
My heart goes out to anyone having difficulties and I am very thankful I am not in that position - though I have a brother who is now in considerable negative equity (but he should be ok as long as his job holds out).
If anyone is having difficulty it is obviously worth getting expert advice (because you can be damn sure the banksters are).