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When Should you Consult a Foreclosure Attorney?

Posted By: alex

Paying the bills and regaining financial independence after job loss or a sudden health problem has never been more difficult. People every day are facing mounting debt burdens. Bankruptcy has become a major concern for many families all over the United States. Mortgage debt is one of the liabilities where default results in very serious implications. When a debtor defaults on his mortgage payments he loses his right to property and the legal process that allows the sale of the property in a public auction in order to pay off outstanding dues is called foreclosure. Foreclosure attorneys offer assistance to people undergoing this traumatic legal process.

A foreclosure attorney will offer representation to those individuals to prevent or delay a bank from seizing your home or commercial property (for companies). The foreclosure attorney can review and assess the mortgage documents to plan for a defense that is specific to your case. When you are facing the loss of your home, you must seek the representation of a foreclosure attorney. Even while your lenders are in negotiations with you, they might be continuing with foreclosure proceedings behind your back. Laws in States like Florida only allow a few days within which a debtor has to respond to proceedings after being served the court papers. The longer you delay in contacting a qualified and experienced lawyer, your chances for protecting your rights and delaying action against you will become slimmer.

The various ways to plan a defense for such a case include petitioning the Court to seek an injunction. When the repossession is almost definite and about to happen, the only legal recourse a debtor can take is to request a temporary restraining order. If your foreclosure attorney feels that the case may have some deficiencies, you might challenge the legitimacy of the liability that the lender or bank is claiming against you. Your foreclosure attorney might even be able to stop the proceedings and conversely sue the bank or lender for damages. Some states like California, Texas and Georgia are strict in the imposition of a “tender” stipulation on the debtors so that they do not stop the act of foreclosure to just escape the liability. Some of services a lawyer may offer can be:

* Loan modification services

* Home foreclosure assistance

* Deed in lieu of foreclosure services

* Bankruptcy filing and bankruptcy assistance

If you are facing bankruptcy and facing the loss of your home, you should immediately call an experienced foreclosure attorney. St. Augustine residents can get the assistance of local lawyers that specialize in such services.

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