Why is it crucial to hire a foreclosure attorney if expecting a foreclosure notice?

If you have been facing foreclosure and pondering over if you require an attorney, you are not alone – more than 35% of Americans had faced face eviction, hence foreclosure in mid-January, 2021, as per the report out by the Census Bureau’s Household Pulse Survey. Foreclosure happens when you get behind on your monthly mortgage payments, and the bank unsurprisingly takes over your property. You are asked to move out, while the mortgage company tries to auction or sell the property to recover some of the loan money they are owed.

A few homeowners try to handle foreclosures on their own, however, the process gets extremely challenging as you proceed further, hence navigating the procedure on their own eventually becomes overwhelming.

Does it make sense to hire a foreclosure attorney at all?

The bank is typically supposed to wait until the homeowner is, at least, 120 days late on their mortgage payments to open a judicial, or even a non-judicial foreclosure, based on which state the homeowner lives in. If the homeowner has been slapped with a judicial foreclosure notice, they respond to the bank’s lawsuit via the state court system; while in a non-judicial foreclosure, the bank is not liable to acquire a judge’s approval. The homeowners have to file a lawsuit on their own and wait for the court’s deliberation. In either process, homeowners must look for a foreclosure attorney for certain circumstances in particular, such as when –

They think they have a valid, as well as convincing defense. A foreclosure lawyer will determine whether the bank has followed the right practices, committed any error with the homeowner’s account, or actually has the legal footing to foreclosure on them. If the lawyer finds a valid glitch with their foreclosure, there’s a chance for the legal tide to turn in your favor.

The homeowner’s legal options are usually very limited; however, they want to keep their home. Even though it’s quite unlikely that they can mount on enough legal defenses, a lawyer can help them save their home by throwing powerful and valid negotiations with the bank. If you are expecting a foreclosure, it’s time you consulted a foreclosure attorney.

If a homeowner has a government-backed loan, for instance – a loan supported by the Federal Housing Administration may meet the criteria for additional aid, they will want to seek an attorney’s guidance.

If a homeowner has served in the military, they qualify to consult an attorney under the SCRA (ServiceMember Civil Relief Act).

The bottom line

With utmost patience and attention, you can deal with the aftereffects of foreclosure, and build a promising financial future for your family and yourself. If you think you won’t be able to make the next mortgage payment or are expecting foreclosure, get in touch with our foreclosure attorney at Recovery Law Group in order to have a grasp on your right and options.

Recovery Law Group also has a team of experienced bankruptcy attorneys in Fort Worth, who have represented numerous bankruptcy cases across the United States for years. So, whether it’s due to bankruptcy you’re unable to pay your mortgages, or the current financial situation is only a temporary downtime – our foreclosure attorneys are here to guide you.

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Created on Nov 11th 2021 00:53. Viewed 305 times.

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