Breaking News
Home / Finance / Hire Your Foreclosure Attorney Immediately To Protect Your Interest

Hire Your Foreclosure Attorney Immediately To Protect Your Interest

Sometimes your financial position may be affected severely and such situation might lead to foreclosure of your home. What should you do under such circumstances? Your only wish in these conditions would be to look for some way out, so that you are able to save your home. You cannot afford to wait any longer in such cases.

First thing that you should do is to consult any legal expert and seek his help. If you consult any foreclosure attorney, then he can advice you how to proceed further. You can also talk to your lender and negotiate with him, so that it is possible to avoid such situation. However, getting in touch with an attorney is very essential.

What is foreclosure process?

You must understand various legal steps that follow foreclosure process. Then you will know when you should seek help from bankruptcy foreclosure attorney. Following are the steps involved in foreclosure process:

  • Your lender will ask you reasons of your nonpayment of the debt.
  • Lender will then send you default notice and ask you to make the payment.
  • Your lender will file foreclosure complaint in the court with the help of his attorney.
  • The court will send you the complaint and give you 30 days notice to give reply.
  • Attorney of your lender will file motion for default judgment
  • The court will order for sale to sheriff
  • Sherriff will evaluate the value of your property.
  • Sheriff will put an advertisement for sale or auction notice of your home and send a copy to you.
  • Your home will be sold to best bidder and judge will order for new sale deed.
  • Buyer will ask sheriff to get the premises vacated for taking possession.
  • Your lender gets deficiency judgment for the difference amount if any between your debt amount and foreclosure sale price.

All the above process will be completed within 2 months and therefore it is necessary that you must act fast.

You must keep negotiating with your lender

If your lender ever tries to contact you then you should not ignore it, but keep negotiating with him. Your lender will also not prefer to go for foreclosure process as it is quite expensive for him too. Therefore, the lender will prefer to find an agreeable solution in consultation with you. However, if you or your lender finds no way out other than going through the foreclosure process then you should immediately seek legal help.

What is the role of Attorney?

Besides defending your case, he will discuss with your lender to find an alternate to foreclosure. You can expect following services from him.

  • Thoroughly examine all the terms and conditions of your mortgage documents.
  • Thoroughly understand your situation
  • Analyzing your situation
  • Finding any defense against foreclosure and any counterclaim
  • Finding any other options which are beneficial to you.
  • Negotiate with your lender
  • Protecting your interests in all court proceedings.

Earlier you hire a foreclosure attorney you will get better options, which are of your best interest. Therefore you should not wait too long.

About Admin

Thank You for reading my article if you love the article then do share on Social Media and support this article. I do work for blogging and Cloud Axis Hosting platform.I do keep my website updated with regular posts in various topics.