what kind of attorney do i need for foreclosure

Full Answer

What can a foreclosure lawyer do?

How to defend against foreclosure?

What is the SCRA for foreclosure?

What happens if you don't have a valid defense to foreclosure?

What to do if you can't afford a lawyer?

Do you need an attorney to defend against foreclosure?

Is it a good idea to learn the foreclosure process?

See 2 more

About this website

What is the most common method of foreclosure?

The Most Commonly Used Foreclosure Procedure In the State A foreclosure can be either: judicial (the foreclosing party files a lawsuit, and the case goes through the court system) or. nonjudicial (the foreclosing party follows a set of state-specific, out-of-court procedural steps to foreclose).

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?

Typically, the pre-foreclosure process will last around 120 days, but this time-period can be longer if the lender files the foreclosure complaint after the required 120-day waiting period.

What is the biggest cause of foreclosure?

Disease: Unexpected medical bills are the leading cause of bankruptcy in the U.S., so it makes sense that they would lead to foreclosure as well. Chronic illness, catastrophic emergency, and inadequate health insurance can all create financial stress that ultimately means missing mortgage payments.

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?

In this page you can discover 16 synonyms, antonyms, idiomatic expressions, and related words for foreclose, like: exclude, expropriate, forestall, preclude, shut out, deprive, confiscate, bar, seize, forbid and dispossess.

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 foreclosure in real estate?

A foreclosure is forced sale of home or property by a financial institution such as a bank or mortgage company. Unless you paid for your property in full (cash) at the time of purchase, most property owners use a 3rd party to provide the additional funds to complete the sale. As a result, the owner is obligated to repay ...

What is the Foreclosure Process?

The process depends on whether the foreclosure is a judicial sale or a nonjudicial sale.

How long does a pre foreclosure take?

The homeowner has 30 days to make the payments on the debt owed or the foreclosure process will be initiated.

What to do if you think you may default on your mortgage?

An attorney can also represent you in a foreclosure proceeding to make certain your interests and rights are protected.

What happens when a property owner fails to pay the mortgage?

When a property owner fails to make payments as part of the loan agreement for their mortgage, the bank or other lien holder may begin foreclosure proceedings to take possession of the property to satisfy the debt owed to them.

Can a lender purchase a property and sell it independently?

The lender issuing the default can also purchase the property and sell it independently in a private sale. At this time, the homeowner must vacate the property or an unlawful detainer will be filed to evict the homeowner if he or she is still living on the property after the sale.

Can an attorney defend you in foreclosure?

An attorney will not only defend you in the foreclosure proceeding, but will also work with your lender to figure out alternatives which may help you remain in your home. You should speak with an attorney regarding your foreclosure situation in order to determine your possible courses of action.

Why it's a bad idea to represent yourself

The law allows people to represent themselves, so people are free to do this, but it is almost universally true that they will wind up hurting themselves, not helping. This is comparable to doing delicate surgery yourself on a loved one if you are not a surgeon.

What a good foreclosure lawyer will do

In evaluating each case, an attorney looks at all the issues that the borrower knows of, and then looks at all the other issues known to be defenses to foreclosure. Your attorney should decide on a tailored strategy, depending on the details and on the borrowers' situation and goals.

Avoiding cookie-cutter lawyers

There are many attorneys these days who offer to assist borrowers with foreclosure defense. If you go out to find a foreclosure defense attorney, be very careful and make sure to find someone with whom you feel comfortable, and make sure that that person understands your objectives and can explain to you how those can be achieved.

1. Points you to a wide range of possibilities

The main reason why you want to hire a lawyer to help you with the foreclosure is their knowledge and experience. They should have an excellent knowledge of the law and legal procedures. On the other hand, if they are experienced enough, they will know how to adapt to your case and understand which approach to choose.

2. Helps you avoid a deficiency judgment

A good lawyer can help you avoid deficiency judgment which can sometimes occur during the foreclosure process. In case you’re dealing with foreclosure, your financial situation is probably not at an enviable level. That means you can’t afford yourself some new debts that might arise.

3. Alleviates potential losses

In some situations, there is an option to ease your loan, making it easier to repay. This can also be a facilitating option that will keep you up to date with payments that you would not otherwise be able to make. A lawyer who knows the law and is good at what they do will know that there is that possibility.

4. Helps you achieve a loan modification

In some cases, the loan repayment terms can be adjusted to make it much easier for you to repay the loan. If everything is done properly, it is possible that you will keep your property. Such modifications are free of charge, but it is necessary for the bank to first check the information about your income.

Where Can I Find the Right Lawyer?

LegalMatch.com is a fast, free, and confidential online platform to help you find the right lawyer for your case. LegalMatch.com provides attorney-client matching services based on the type of case, type of lawyer needed, and your location.

What kind of services do lawyers provide?

Lawyers can provide a wide range of services to their clients. Some lawyers handle many different types of cases. Some lawyers specialize in one or two types, such as family and divorce law.

What Do Criminal Lawyers Do?

Criminal cases usually involve a prosecutor, a defendant and a defense attorney. A criminal lawyer is also sometimes called a defense attorney. These lawyers can be hired by the defendant or appointed by the court to represent the defendant.

What Do Probate and Estate Planning Lawyers Do?

Probating a will includes distributing property after a decedent, or individual who passed away, under court supervision. Guardianship is when an adult is appointed by the court to care for a minor child or a minor child’s property, such as a trust fund. Emancipation occurs when a minor child is granted certain rights of an adult, such as signing contracts. Conservatorship occurs when an adult is appointed to care for another adult who cannot care for themselves.

Why do you need a lawyer for a contract?

Even in transactional civil matters, such as drafting a contract, a lawyer can be very helpful. A lawyer can make sure contracts are drafted correctly and avoid problems at a later date. A real estate purchase, business purchase, and/or creation of a trademark or copyright will most likely involve a lawyer.

What is a lawyer?

A lawyer is an individual who is licensed to practice law in a state. Lawyers are also known as attorneys or an attorney at law. Some lawyers are licensed in multiple states. Some lawyers are admitted to practice at the Federal level as well.

Why is it important to have a family lawyer?

It is important in divorce cases for an individual to have a family lawyer representing them to ensure their rights are protected.

What can a foreclosure lawyer do?

A foreclosure lawyer can help you formulate your arguments, navigate the rules of the court, and submit the appropriate paperwork. It's unlikely that a homeowner could mount a successful defense to foreclosure without an attorney.

How to defend against foreclosure?

You'll need to file your own lawsuit if the foreclosure is nonjudicial or respond to the foreclosure lawsuit in a judicial foreclosure. Either way, the process involves making a legal argument , filing documents with the court, following rules of evidence, and more. A foreclosure lawyer can help you formulate your arguments, navigate the rules of the court, and submit the appropriate paperwork. It's unlikely that a homeowner could mount a successful defense to foreclosure without an attorney.

What is the SCRA for foreclosure?

Active military servicemembers have special protections against foreclosure, as well as certain rights, under the Servicemembers Civil Relief Act (SCRA). The SCRA is extensive and complex. If you're a military servicemember, an attorney can inform you about all of your rights under the SCRA and help ensure that the servicer complies with this law.

What happens if you don't have a valid defense to foreclosure?

If you don't have a valid defense to the foreclosure—say you stopped making your payments, have no intention of resuming them, and think the servicer has treated you fairly —then there's probably no reason to hire or consult with an attorney.

What to do if you can't afford a lawyer?

If you can't afford to hire a lawyer to represent you throughout the entire process, consider scheduling a consultation with one to help you decide what to do, as well as to explain to your legal rights and responsibilities. If you can't afford even one consultation with an attorney, a legal aid office might be able to help you for free if you meet certain criteria.

Do you need an attorney to defend against foreclosure?

You Have a Defense and Want to Keep Your Home. If you think you have a defense to the foreclosure, and you want to keep your home, you'll likely need a skilled attorney to help. Some defenses that probably require the aid of an attorney include the following: The servicer didn't follow proper foreclosure procedures.

Is it a good idea to learn the foreclosure process?

It's a good idea to learn each step in the foreclosure process in your state. That way, you won't be caught off guard at any point. If you've done your homework on the topic, but still have questions, an attorney is an excellent resource.