what can a foreclosure attorney do for me

What a Foreclosure lawyer can do for you A foreclosure attorney can figure out how to keep your home or, if that is not an option, how to make money off its sale. A lawyer will defend you against foreclosure, negotiating with your creditors and helping you find alternatives, such as a short sale, so that you receive the most money back.

Full Answer

How do you get around a foreclosure?

6 Ways To Stop A ForeclosureWork It Out With Your Lender. ... Request A Forbearance. ... Apply For A Loan Modification. ... Consult A HUD-Approved Counseling Agency. ... Conduct A Short Sale. ... Sign A Deed In Lieu Of Foreclosure.

What means foreclosure?

Foreclosure is a process that begins when a borrower fails to make their mortgage payments. When a home is foreclosed upon, the lender typically repossesses and attempts to sell the house. This happens because mortgage loans are secured by real estate, meaning your home is used as collateral.

How long is the pre foreclosure process?

This is the beginning of the preforeclosure process and tends to be about 1 – 3 months long. Once this happens, consider this your “last call” to take action to avoid foreclosure. If you decide not to take action, your mortgage will likely go into foreclosure.

Can I refinance while in foreclosure?

Can I Refinance While In Foreclosure? It's not possible to refinance while you're in foreclosure. If you were to refinance, the best option is to be current on your payments and refinance into a more affordable payment before you're in serious financial trouble.

What is an example of foreclosure?

Example of Foreclosure Events: The 2007 Housing Market Crash Home sales and prices soared, largely fueled by subprime mortgages. Eventually, the bubble burst when home prices started to drop, causing a full collapse of the housing market and, inevitably, a large-scale economic crisis.

What is foreclosure of home loan?

Home loan foreclosure is when a borrower repays the full outstanding loan amount in a single payment instead of with EMIs. A home loan foreclosure may seem a good option because you get to pay off your debt quickly. However, you must consider certain factors before opting for a foreclosure.

What is another word for foreclosure?

What is another word for foreclosure?repossessionexpropriationarrogationdisseisinattachmentremovalpoindconfiscationtaking awaytaking35 more rows

Is foreclosure the same as repossession?

In foreclosure, a house is sold as collateral after the homeowners default on their loan. Housing repossession is a more general term for when a mortgage lender or loan provider takes ownership of a property because the owners haven't paid their bills. It's a consequence of foreclosure.

What is a foreclosure defense attorney?

A foreclosure defense attorney knows the legal landscape better than you. Their experience and judgment will save you time, help you avoid pitfalls, and maximize your chances of saving your home. Depending on your situation, your best course of action may be to avoid foreclosure via loss mitigation, modify your loan, file for Chapter 13 bankruptcy, or have your foreclosure attorney represent you in court outright. An experienced foreclosure attorney in Los Angeles can help you understand the pros and cons of each option.

What happens if a bank forecloses on your home?

If the bank made mistakes in foreclosing your home, an attorney can identify them and fire back. For example, the lender may have breached your loan contract or violated state foreclosure laws, or the foreclosing party may not be the rightful owner of the mortgage debt. You may unknowingly be the victim of unfair lending practices or an unlawful mortgage assignment. There are dozens of strategies and tactics an experienced attorney can use to postpone foreclosure. And if the court accepts your attorney’s argument, you may receive the option of a settlement or even have your lawsuit dismissed entirely.

Can a bank attorney attend a settlement conference?

If you live in a state that mandates settlement conferences, your attorney can attend them in your place and negotiate with the bank’s attorney to save your home. The conference is an opportunity for both parties to reach an alternate resolution that doesn’t involve foreclosure. Without an attorney, you’d have to contend with the bank’s attorney on your own time with limited knowledge.

Can you modify a mortgage without an attorney?

A loan modification adjusts the terms of your loan such that you can afford the payments. While modifying a loan is free, few homeowners can convince the bank to approve a modified loan without help from an attorney. The bank must review several key pieces of information about your income before making their decision. An experienced attorney can provide and present this information in the best light to help you get approved for a new loan you can afford.

2. What Does a Foreclosure Defense Attorney Do for You?

Jul 23, 2020 — Your attorney analyzes your circumstances and the facts of your case to determine the best strategy for defending against the foreclosure action (4) …

3. Find the Right Foreclosure Attorneys – LegalMatch

A real estate attorney can help you in many ways throughout the process. An attorney will not only defend you in the foreclosure proceeding, but will also work (7) …

4. What Does a Foreclosure Defense Lawyer Actually Do?

Oct 10, 2019 — When you respond, you are telling the court and your lender that you are prepared to fight the lawsuit using any number of foreclosure defenses. (9) …

5. What Can A Foreclosure Defense Attorney Do For Me?

Apr 9, 2019 — Foreclosure Defense Attorneys. What can they do for me? If you’re in foreclosure, you may have considered hiring an attorney to help you (14) …

6. How to Delay or Stop an Imminent Foreclosure – AllLaw

Any information sent through this site does not create an attorney-client relationship and may not be treated as privileged or confidential. The lawyer or law (17) …

8. Foreclosure Defense Lawyer Tampa, FL – Debt Fighters

Does Foreclosure Mean I Have to File Bankruptcy? What is a Foreclosure Sale? What Else Can a Tampa, FL Foreclosure Defense Lawyer Do For Me? How Much Time Do I (24) …

9. Find the best Foreclosure lawyer near you – Avvo

Foreclosure laws are very detailed and strict about the process the bank must follow. A foreclosure attorney can explain your options to avoid a foreclosure (27) …

What does a foreclosure attorney do?

In representing you in the foreclosure action, your attorney explores all possible avenues available to you, including resolving the lawsuit to avoid sale of your home. Whether that can be accomplished depends on your specific situation.

What to do if your lender initiates foreclosure?

If your lender initiates an action, you should immediately contact an experienced foreclosure defense attorney. Your attorney analyzes your circumstances and the facts of your case to determine the best strategy for defending against the foreclosure action. If options are available, your lawyer explains them and works with you to decide on the best course to follow.

How to avoid scams with mortgage lenders?

The best way to avoid potential scams and unscrupulous lenders is to communicate only directly with your mortgage lender or mortgage servicing company — and know your rights. Remember to document everything. That means take detailed notes of your interactions related to your mortgage loan. Make copies of any document you sign and send to any individual, including your mortgage lender. Do not hesitate to turn to an experienced, reputable attorney that is knowledgeable about mortgage and foreclosure law the second you need help.

What is foreclosure in Kansas?

Under Kansas law, mortgage foreclosure is a judicial process. To initiate a foreclosure action, the lender files a lawsuit against the borrower, requesting a judgment for at least the amount you owe, as well as the right to foreclose the mortgage lien on your home. As a borrower and defendant in the foreclosure lawsuit, you can take advantage of all of the rules of civil procedure. You can file an answer, engage in discovery, file motions, and even go to trial.

What is the redemption period for a sheriff's sale?

The redemption period is the period of time in which a borrower living in the home can redeem the property by repaying the purchaser the full amount of the Sheriff’s sale price, plus interest and other costs.

What is a sheriff's sale?

If the court grants a judgment for foreclosure and you can’t pay the entire amount owed, the property is auctioned off at a public sale , commonly called a “Sheriff’s sale.” A Sheriff’s sale can only occur after a court order and the required notifications are published and sent to the borrower.

When does the moratorium on foreclosures end?

The moratorium on mortgage foreclosures for most federally-backed loans (which comprise about 70% of all loans) now expires on August 31, 2020 , extended from the original expiration date of May 18. In addition, Kansas courts are slowly getting back underway as part of phased reopening after the COVID-19 lockdown. Unemployment is at an all-time high, and some of us will never recover from the economic damage suffered. For those and other reasons, homeowners who are behind on their mortgage payments will face foreclosure in the not-too-distant future. If you are in that situation, an experienced foreclosure defense attorney may be able to help.

Why do you have to attend a settlement conference?

Some states require that occupied properties participate in a settlement conference in order to try to come to a solution between the bank and the owner as an alternative to foreclosure. A good foreclosure lawyer can appear at the settlement conference themselves to help the defendant avoid foreclosure.

Can a foreclosure attorney help you?

A good foreclosure attorney will be able to come up with different defense strategies to help you avoid a foreclosure by any means possible. They can find ways to determine that your mortgage has been determined incorrectly, and therefore you are not viable for a foreclosure at this time. The best thing you can do to improve your chances of avoiding a foreclosure on your home is to provide as much information to your attorney as possible.

Can a foreclosure lawyer help you get a loan modification?

A foreclosure lawyer can also help you get a loan modification when you need one. A loan modification can help you save your home from ultimate financial doom, and sometimes it can be too difficult to achieve this on your own. It is nearly impossible to get approved for a loan modification on your own, actually. That’s why a good foreclosure attorney can help you tell the bank exactly what they need to hear; that way, you’ll get good results.

What happens if a borrower defaults on a mortgage?

If a borrower defaults on a mortgage, then the lender may decide to foreclose on the property since it secures the mortgage loan. Foreclosures can be either judicial or nonjudicial and often arise when a homeowner is unable to make their mortgage payments

What does a foreclosure attorney do?

Your attorney will also handle negotiations and talks with your lender. Foreclosure attorneys are likely also experienced negotiators, and they have the time and resources to handle these matters on your behalf. This is particularly helpful for homeowners who are pursuing loss mitigation. Your attorney will talk to your lender and can also quickly spot if they don’t follow the rules or they make a mistake that could stop the foreclosure.

Why do you need a foreclosure lawyer?

One major benefit of hiring a foreclosure lawyer is that you don’t know what you don’t know. A foreclosure lawyer has the experience to identify things to help your case, like a legal defense you aren’t aware of or a legal misstep by your mortgage company.

What is flat fee for foreclosure?

With a flat fee arrangement, you pay your attorney a set amount of money to handle your case. The largest benefit of flat fee billing is that you know exactly how much your foreclosure attorney will cost. They’ll receive the same amount of money regardless of how much time and effort they put into your case. While it’s nice to know what you’ll owe your attorney for their work, there are two potential risks of agreeing to a flat fee.

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What are the advantages and disadvantages of hourly billing?

As a client, the biggest advantage to hourly billing is that your attorney puts in the same amount of effort for your case, whether it takes them a few hours or several years . The biggest disadvantage of hourly billing is that it’s difficult to predict the total cost of their services.

How does an attorney bill clients?

Attorneys bill clients using different fee structures, including an hourly, flat fee, or monthly fee arrangement. With hourly billing, the attorney charges a set amount of money for each hour worked on a case. Most attorneys will measure their time in six-minute increments and round up to the nearest tenth of an hour.

What to do if you don't have an attorney for foreclosure?

If you decide to proceed without an attorney, you should still learn at least a little bit about state and federal foreclosure laws. This will give you an idea of what to expect when negotiating with your lender. And if they don’t follow the law as they should, you can point it out to them and prevent them from taking advantage of you. There’s also a chance that a lender’s misstep could delay or stop the foreclosure proceeding.

How to help with foreclosure?

In this case, there are other options you can use to help you through a foreclosure proceeding. You can handle the foreclosure on your own, set up a free consultation with an attorney, contact a free legal aid society, or look for a pro bono lawyer.

Why do people stop paying mortgages?

The majority of home mortgage foreclosures happen because homeowners don’t have enough money . As a result, they stop making their mortgage payments. But many times borrowers have a legitimate defense against foreclosure. Or they’re willing to accept the foreclosure but could use some help in making sure their rights are protected during the foreclosure process. But because the homeowner has limited financial resources, they can’t afford to hire a foreclosure attorney.

What to do if you don't qualify for legal aid?

If you don’t qualify for help from a legal aid office or they don’t have the resources to help you, you can try to find an attorney who will take your case for free. Lawyers are strongly encouraged to volunteer some of their time providing free legal services to those in need. This volunteer work — also known as working pro bono — can take several forms.

How to find a free lawyer?

To find out if you have a program or attorney in your area who might be able to take on your case for free, you can use the American Bar Association’s Free Legal Help search tool. But if you can’t find a pro bono or volunteer lawyer, there are other places to look, like your state and municipal bar associations. These are professional organizations that most attorneys join for professional development and volunteer opportunities. Depending on where you live, you should have a state bar association and maybe a city and/or county bar association.

Can you foreclose on a house while in the military?

You may also want to hire a foreclosure attorney if you’re a service member. Being in the United States armed forces doesn’t make you immune from foreclosure, but it does give you special legal rights. For example, the Servicemembers Civil Relief Act (SCRA) limits when and how a mortgage company can foreclose on your home while you’re on active duty.

Can an attorney take a foreclosure case?

These programs can include clinics for those who need help with their foreclosures. There might also be attorneys in private practice who’re willing to take a foreclosure case at no charge.

What can a foreclosure lawyer do for you?

A foreclosure attorney can figure out how to keep your home or, if that is not an option, how to make money off its sale. A lawyer will defend you against foreclosure, negotiating with your creditors and helping you find alternatives, such as a short sale, so that you receive the most money back.

What happens if you fail to pay off a mortgage?

If you fail to make the payments, the bank can start a foreclosure action, which enables them to sell your home to pay off the loan. Foreclosure laws are very detailed and strict about the process the bank must follow.