A real estate foreclosure is a complex matter. The average homeowner does not understand the foreclosure process. Homeowners may attempt to resolve the issue at first on their own, but usually find it necessary to hire an attorney. The attorney is knowledgeable about foreclosure laws.
When to Contact an Attorney?
You should contact an attorney as soon as you think you may be in financial trouble and cannot make your mortgage payments. If you have been served with a foreclosure lawsuit or are a party to a foreclosure proceeding, you should contact a real estate foreclosure defense attorney right away.
Why Use an Attorney in the Foreclosure Process
- A real estate foreclosure defense attorney is an expert in foreclosure law.
- The attorney is the only person who can legally represent you.
- The attorney is a skilled negotiator.
- An attorney can advise you of all your legal remedies and options to save your home.
- Attorneys have established relationships with loss mitigation departments of lenders and know how to get to the right person who is in charge quickly.
- Attorneys get results for their clients because lenders are more apt to respond if an attorney is involved.
Services Your Attorney Can Provide
The services that an attorney can provide allow you to save time and guide you through this process; which for many can be a very difficult time in their life. Attorneys provide the following services
- Write a letter to your lender.
- Prepare required documentation for a mortgage modification, deed in lieu, short sale or other foreclosure resolution method.
- Litigate the matter in court if necessary and defend your rights.
- Negotiate with your lender.
- File a bankruptcy action in Bankruptcy Court stopping the foreclosure action.
- Prepare a forensic loan audit of your loan documentation to make sure you were not a victim of predatory loan practices.
- Stall the foreclosure action.
Your attorney may be able to negotiate the following resolutions depending on your financial situation:
- Mortgage modification
- Short Sale
- Deed In Lieu
- File bankruptcy action allowing you to keep your home if you continue to make your mortgage payments
Getting Legal Help
It is recommended that you obtain foreclosure loan help from a real estate foreclosure defense attorney who can advise you of your legal rights and defenses available to save your home from foreclosure. The attorney can help you stop the foreclosure proceedings or delay them.