Mortgage defaults are becoming common, especially during the time of pandemics that the world is witnessing. Due to financial crises and epic decrease in jobs due to shutdowns of industries and private offices, hundreds of people in the country made mortgage defaults thus, inviting the foreclosure processes. Though the government of the United States is offering considerable relief to families and individuals facing foreclosure due to COVID 19, there are still plenty of cases where it is inevitable. If you are also facing such a situation, knowing what can a foreclosure attorney do for me is vital. It is also crucial to choose the right lawyer who becomes vitals to counter troubles that you can get in.
Circumstances where you should hire a foreclosure defense lawyer
In the USA, people face two kinds of foreclosure processes: judicial and non-judicial. There can be few situations where hiring a foreclosure defense attorney is not the right option. These situations may include matters where you do not have an appropriate defense or do not want to keep your home anymore. You should know when to implement the decision of hiring an experienced foreclosure defense attorney to protect your home. Below are some of the circumstances where services of attorney become very crucial for you:-
When you have a solid defense
If you feel that the lender did not follow the proper practices and has made mistakes while assessing the decision of foreclosure, you can find foreclosure lawyers to turn the tide against your lender.
If you choose the government-backed loans to purchase a house, you may have certain exemptions or privileges concerning a foreclosure process. You can consult an attorney to explore such options to avoid foreclosure.
Complications due to Pandemic
As there are pandemic relief packages for home buyers. A foreclosure lawyer can help you to identify the scheme and reliefs that can grant you a moratorium. It will help you to protect your home from sale by the mortgagor.
If you are a Military veteran
People who served in the military can avail of relief from foreclosure using the Servicemembers civil relief act. You can discuss with your lawyer the possibilities to exploit this act for preventing your property from sale.
Finding legal options to save your home
It may be possible that you do not have any valid point against foreclosure. Your foreclosure defense lawyer can help to find suitable legal options. There can be some options that you might be missing due to less legal know-how.
How can a foreclosure defense attorney help you?
There are several ways through which your foreclosure lawyer can help you to save your property and negotiate the loans with the lenders. If you are struggling with a question of what does a foreclosure attorney do you can go through the below points:-
Notice of Appearance
We know that you do not want to suffer the stress of dealing with documentation and negotiations while challenging the foreclosure. Once you appoint a foreclosure attorney, he will take care of all the communication and legal documents essential for your case. It will help you avoid acting as a middleman between attorney and lender for any types of negotiations or legal compliances.
Helping with loan modification
Modifying mortgage loans is one of the most effective ways to halt foreclosure proceedings. Your lawyer can help you with negotiations with a foreclosing party during such modification. A loan modification occurs by altering the principal amount, interest rates, duration of the loan, or extending the deadlines for the payments. As the foreclosure process is time-consuming for lenders, they often seek solutions by modifying the loan terms. If your attorney has enough skills and experience, he can help you get the best deals from the lenders to save your home from foreclosure.
Answering the summons
People wondering what does a foreclosure lawyer do should notice his role from the moment of receiving the summons. Your lawyer will help to make a proper assessment of such summons and legal notices to prepare an adequate response for them. It is crucial to revert for these summons as it will help the court to decide whether you are willing to defend the foreclosure or not. The lenders can make mistakes while drafting the summon document, and only an experienced foreclosure lawyer can help identify such errors and use them in your favor during courtroom trials.
Application of the well-calculated defense strategies
Formulating and applying the strong defense strategy while representing you is one of the primary roles for any foreclosure defense attorney. As you do not know the legal technicalities to use in your favor, your attorney will help you identify the opportunities and counter the arguments of the opposite’s lawyer. He will ensure that every document vital for your case should be preserved and presented as and when it is required.
Prevention from a deficiency judgment
We hope that you are familiar with this term. You can call it a lawsuit filed by the lender to recover the money that he doesn’t get even after the sale of your property. When the lender makes the petition for a deficiency judgment, the court may ask you to pay the remaining amounts thus, deteriorating your already crumbled financial position. Your attorney can use his skill and knowledge of foreclosure laws to prevent you from paying any such money to the lenders.
We hope that we provided you with enough information to understand what does a foreclosure lawyer do, and how you can benefit from his services. If you are looking for such services then hiring a reputed lawyer like Anthony L. Velasquez will be a good decision for you. Make a brief comparison between the practice history, fee structure, client reviews on paid attorney advertising websites, and more to choose the options that are best for you. Your lawyer should act as a family member to ensure that you do not lose your house if there are even fewer chances to postpone or end the mortgage loans.