I read some where that if you entered into a modification agreement there is no way to fight a foreclosure is that true?
I did one two years ago in NY
Angelo is correct that you may stil have robust defenses. But it is also true that modification agreements often contain many onerous provisions which involve waiver of rights or various confessions.
It would not be at all unusual for a lender to demand that the borrower waive any assertion of fraud in the origination or servicing of the loan, to confess that the loan had been made and valuable consideration tendered, to confirm the amounts of the indebtedness (including many inflated and patently invalid fees and assessments tacked onto the balance), to confess default, etc.
In short, if you previously had a valid fraud defense, your chances of asserting this defense after the modification tends to be eviscerated.
By contrast, Angelo points out that other valid defenses may still remain. This is particularly true where the loan is originated in the name of one entity, the modification done in the name of another, and the foreclosure brought by yet a third entity. It is also not at all unusual for the lender to get a borrower to sign the modification and then to hold the borrower to its terms, while the lender NEVER actually signs. This preserves the option by the lender to repudiate the modification.
This can be an effective trick, but it can also backfire. There have been a number of cases where the lender is seeking to enforce some waiver or confession in respect of a modification, presenting to the court a purported agreement signed ONLY by the borrower. Unless both parties sign, the agreement isn't complete. Foreclosure mills are often careless. Most would simply forge the missing signature if they noticed that it was missing.
But note that an invalid modification agreement isn't always going to help either, because the borrower probably relied on this agreement, possibly in respect of some alteration of interest rates, etc. If the agreement is totally oppressive and gives no real benefit to the borrower, the borrower should explore repudiating it for lack of signature, etc. If the agreement contains some provisions beneficial to the borrower, greater care must be taken.
READ THE MODIFICATION AGREEMENT CAREFULLY AND DISCUSS THE SITUATION WITH AN EXPERIENCED FORECLOSURE DEFENSE LAWYER.