Dual tracking is a common practice in which a lender continues to pursue foreclosure even though the homeowner is applying for a mortgage modification. Borrowers are often unaware that the lender is continuing the foreclosure proceedings and are shocked when they lose their home despite taking steps to save it.

Your House Could Be Foreclosed On During Loan Modification

Dual tracking is a controversial process that has thus far escaped the reach of state and federal regulators. While regulators and other officials work to curb the practice it is important for borrowers to realize that they are at risk of having their homes foreclosed out from under them while they pursue a loan modification in good faith.

This practice would appear to be more about punishing borrowers than making a beneficial business decision. While lenders cite their need to protect investments as justification, engaging in dual tracking adds a layer of complexity to an already confusing and demoralizing process for borrowers.

At the Law Office of Foreclosure Defense, in Illinois, our attorneys can advise you on your rights as a borrower and look out for your interests. We can assist you with the mortgage modification process while protecting you against dual tracking and other deceptive practices.