Nobody wants to lose the roof over their head. Facing foreclosure can be a difficult time for many homeowners, but if you’re unable to meet your monthly mortgage or debt repayments, your home can subsequently be seized by your lender. Making use of a foreclosure attorney can not only help you navigate the foreclosure process, but you could find a way to keep your home.
Before hiring just any attorney, make sure that they are licensed and knowledgeable to handle foreclosure law in the specific state that your home is in. Each state has differing legislation when it comes to foreclosures.
Can An Attorney Stop The Foreclosure Process?
There are different stages of the foreclosure process which lead up to the loss of your home.
Being delinquent on a monthly mortgage or debt repayments is what starts the process. The process ends when your home is auctioned off, and someone else becomes the new owner of your (former) home. The good news is that between the first and the last stage there is another stage, which can be a saving grace. This is known as the reinstatement period.
During the reinstatement period, there are two options available to you. The first is to enlist the services of an attorney or to immediately pay back the full amount owed to your lender. The latter option isn’t always a possibility and you should never attempt to navigate the foreclosure process on your own, which is why it’s important to get help from a professional foreclosure attorney.
The entire process can be overwhelming and having a professional at your side to handle all the legal aspects, can make all the difference. You’ll have someone who can explain all the legal speak into layman’s terms and someone who can catch all nuances in the paperwork. In the legal world, the way things are phrased can be open to interpretation unless you have the necessary knowledge and experience. A licensed and experienced attorney may be able to stop the process or even temporarily halt it for the time being.
What Can A Foreclosure Attorney Do To Help?
The most important thing your attorney can do is help you to better understand the foreclosure process. Hiring a lawyer with experience in foreclosure defense guarantees you won’t be caught off guard.
Another important way that an attorney can help you is by buying you time. Buying time gives you a chance to save your home. In this brief period of time, you’ll hopefully be able to save and put that money towards your home loan. Your attorney can also arrange to have your current mortgage or debt modified in a manner that enables you to pay off your monthly debt without worrying about losing your home. Your attorney will also inform you about other options available to you and ensure that your lender abides by the agreed-upon rules.
Keep in mind that there is a chance that you could still lose your home. But as a homeowner, it’s better to lose your property in a short sale than to foreclosure. With a short sale, you have more control over the sale of your property. This means you can hopefully repay your lender a lesser amount. A short sale should only be done by a licensed attorney specializing in foreclosures or short sales.
Expert Foreclosure Attorneys In Coral Springs
If you would like to speak to a foreclosure attorney regarding your options, look no further than the law offices of Gary I. Handin, P.A. For legal services you can count on, call us today 1-877-815-4560!
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