A foreclosure can’t just be initiated unless you’ve defaulted on your mortgage payment more than the agreed period. If you do not approach your lender for a possible solution within the period of the time given, your lender is authorized to initiate a foreclose your house. However, you do not have to give up here and watch as your house is being taken from you. Taking necessary actions early can help you stop foreclosure and also help you avoid liabilities.
Seeking legal advice before taking a major step is the first rule to consider when you’re trying to stop foreclosure. Not all foreclosed home is due to be foreclosed, however, lenders take advantage of homeowners inadequate legal knowledge and treat them unfairly. Even when your home is already foreclosed, having a lawyer review your loan agreement can make all the difference.
Whenever you want to hire a lawyer to help you out, make sure to have this checklist with you:
Is he or she a practicing lawyer in your state?
Is he or she a real estate lawyer?
Has the person handled a foreclosure case before?
So they have a position track record?
Your answers to those questions must be ‘YES’, these are the back things you much consider before you hire a lawyer. If ‘No’ is given to any of those questions, you will be liable in that area.
State laws and proceedings defer which is why it is important to hire only a lawyer that is knowledgeable about how the foreclosure is handled in your state and the laws guiding it. Also, real estate lawyers are not just knowledgeable about state laws but they’re experts at it. Not just that, real estate lawyers understand the economic value of properties better and in case you were to sell your house to stop a foreclosure, they are best at handling such a situation.
For information on foreclosure defense call us at (877) 399 2995. We offer litigation document review support, mortgage audit reports, securitization audit reports, affidavit of expert witness notarized, and more.