Top Reasons You Should Work With Foreclosure Lawyers

by | Jul 29, 2014 | Accident & Personal Injury Lawyer

If you are a homeowner facing foreclosure, you may need to hire a foreclosure attorney to help you. Here are top reasons why you need to consult a reputable lawyer.

It is a complex legal issue: A bank may file a foreclosure case in a court to seek a judgment against you. For this reason, you need an apt lawyer from a list of competent Foreclosure Lawyers to protect your property using all the available arguments and options.

You Need a Competent Advocate: Your foreclosure attorney will enable you gain the same level ground as your mortgage company, while guiding you through the entire process.

The Law Guiding Foreclosures Differ by state: Foreclosure law in one state may differ significantly in the manner the foreclosure process should be handled. You will need a lawyer to help you interpret foreclosure laws in your state while guiding you on your rights.

To Understand the Implications of Impending Foreclosure: The Intention of a notice to foreclose is to alert you on the potential repossession of the property in question. Foreclosure law allows banks and lenders to sue a borrower who forfeits to pay his or her mortgage loan. Your attorney can use his reading of the law to explain the implications of the aspects that a bank may raise.

A foreclosure Attorney Will Offer Alternatives: A lawyer will help you explore other possible options that may delay or stop the foreclosure process, such as negotiating with your mortgage company, modification of the mortgage, filing for bankruptcy, or finding a buyer to recoup back your money and pay the balance to the lender. A lawyer may explore other ways, such as requesting the bank to produce evidence of the existence of the debt. Other options may include finding out if there are state or federal programs that can help you survive the foreclosure.

To stop the foreclosure process, your attorney may file bankruptcy chapter 13, which puts an immediate stop to any actions aimed at repossessing your home. This way you will be able to keep your property. Foreclosure Lawyers can also work out the possibility of paying the loan through short sale and other ways that may not harm the equity in your home. If you are not quite sure whom to work with, you can jumpstart the process by hiring Ledford & Wu.



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