You might be faced with the grim reality of losing the property that you own if you can't make a mortgage payment when it's due. Financial lenders will work with you but only for so long until they are forced to face the fact that you can't afford the payments anymore. The lender might decide to place the property in foreclosure. Foreclosure means that you will no longer be the owner of the the property and you will be forced to leave it. If you are faced with a foreclosure, you can hire an attorney to help you fight it. This is a guide to getting a foreclosure attorney and how they benefit you.
What are the benefits of using a foreclosure defense lawyer?
Like any defense lawyers, the major benefit of using a lawyer for your case is that they will represent you in court. They have the experience and knowledge to give you the best defense possible while abiding by your state laws. The opponents will be the bank or financial lender who holds the mortgage. The defense lawyer may ask for a delay on the foreclosure. In some cases, foreclosures can be delayed for months.
What does it take to hire a defense lawyer for a foreclosure?
When you hire a lawyer for your case, you need to find the right one. You don't want to get a lawyer who won't fight as hard as possible or one who overcharges you. Call around in your area and ask for consultations for defense lawyers who handle foreclosures. Most of them will give a free consultation for a certain period of time. Take all information that is pertinent to the case, such as the mortgage contract and proof of mortgage payments. This information and your personal story will help the lawyer make the decision to represent you. Be honest with the defense lawyer so they can help you as best as they can.
Once you hire the foreclosure defense lawyer, they will walk you through the court process and what to expect. They may ask for a modification to the loan to make it easier for you to make your payments each month. The lender has the right to say no and continue with the foreclosure, but sometimes they will agree. It is better for them to continue to get payments towards the mortgage rather than try to auction it off for a much cheaper price than the remaining debt.