If you have been lent money by a bank, a company, or a person, then upon not paying that loan, the lending entity can go for judicial foreclosure. It’s is a legal procedure through which the entity will recover the remaining balance of the loan from the loan borrower who is falling behind on mortgage payments, by forcing the sale of the borrower’s assets that he/she kept as collateral for the borrowed money.
If you are suffering from foreclosure, you need to hire a foreclosure defense attorney to have the best chance of winning the case.
What does a Foreclosure Attorney do to help me in loan modification?
An experienced foreclosure defense attorney can help you to get your loan modified by convincing a bank to approve a modified loan. A foreclosure lawyer can get your loan modified in such a way that it is affordable to you.
What does a Foreclosure Lawyer do to get your loan mitigated?
Some loans have loss mitigation with them which allows you to stay current on your loans. Even though many lenders will do their best to not include loss mitigation in their loans, with an experienced foreclosure defense lawyer, you can exercise this option if it’s available to you.
How can a Foreclosure Lawyer defend your case against unfair lending practices?
If a bank or any other lending entity mistakenly forecloses your assets, a foreclosure lawyer will identify them and go against them in court. For example, if your loan contract gets violated by the lending entity or the foreclosing entity is not even the rightful owner of the property, then the foreclosure lawyer will do his/her best to provide you legal support. People often become a victim of unlawful mortgage practices, and an experienced foreclosure lawyer can help you out of such situations. A foreclosure defense lawyer knows about many foreclosure defense strategies that will help postpone the foreclosure of your assets.
How can a Foreclosure Lawyer help you file for Bankruptcy?
If you cannot pay for your loans under any circumstances, then the most a foreclosure attorney can do is to help you file for Chapter 13 Bankruptcy. In this case, you will get three to five years to get back on your feet financially and get current on your loan payments. Through this way, you will get some time to get financially stable enough to pay back your loan, and you get to keep your assets like your home and your car as well.
Do I need a Foreclosure attorney?
Your assets like your house are not only important to you as a financial asset. It is also important to you on a personal level as it holds many memories and giving them away like that is unfortunate. If you want to keep your property and get some leverage on the loan that you have borrowed, a foreclosure attorney can help you do that. With the help of a foreclosure lawyer, you can not only keep your house and other assets, but you can also get enough time and opportunities to pay back your loan in a lawful manner.
They maintain a great attorney-client relationship, which is why they feel for you and will help you out in the foreclosure process while safeguarding sensitive or confidential information about you.