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Foreclosure whistleblower hopes homeowner's find relief

As the housing crisis and foreclosure scandals have been unfolding across the country, one woman has maintained her focus on helping homeowners find some relief from foreclosure. This woman was compelled by her own experience to become an advocate for those in fear of losing their homes. Not so long ago, the woman herself was dealing with the foreclosure of her home. During that time, the woman, who is also an attorney, helped to uncover bank fraud that would capture the nation's attention. Even though a settlement between lenders and the federal government has been reached, there are still many South Carolina homeowners worried about foreclosure.

After discovering that her bank produced fraudulent foreclosure documents, the woman fought an uphill legal battle against mortgage lenders. Eventually, the evidence she gathered to prove that her mortgage lender was committing fraud was used in the federal claim against the banks. Because she played a central role in uncovering the fraud, she was awarded $18 million as part of the major bank settlement.

Now that the woman has found justice in her own case, she finds being given her share of the settlement is somewhat bittersweet. She is glad that she was able find relief from her personal foreclosure, but wishes that the thousands of homeowners still suffering could also be put back on the right track. In that respect, the woman will be using a significant portion of her settlement for charitable purposes to assist others with their financial problems.

Fortunately, those in South Carolina on the verge of foreclosure may be able to find relief by pursuing various legal options to improve their financial situation. Homeowners may consider a deed in lieu of foreclosure, filing for bankruptcy, or a short sale rather than proceeding with foreclosure. All of these options have their unique features, so individuals can determine which option is best for them. The important thing to remember is that a person is not necessarily out of options when they run into difficulties with their home mortgage.

Source: The Huffington Post, "Lynn Szymoniak, Foreclosure Activist, Says $18 Million Doesn't Make Up For Homeowners' Harms," Zach Carter, March 20, 2012

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