Facing the prospect of a home foreclosure is a daunting and stressful time for any homeowner. In addition to personal financial encumbrances and harassing lenders, the mere process of foreclosure can be complicated and confusing. And if you believe that you have a valid defense to foreclosure, the legal procedures add to the pressure.
In many cases, and for most homeowners facing foreclosure, hiring an experienced and qualified attorney is a wise choice. An attorney that knows the foreclosure process in your state and local jurisdictions can help ease a lot of the worry that comes with foreclosure, and help you ensure that you are put in the best position possible.
From getting you more time to work on your loan modification to ensuring your lender follows the law, hiring an attorney can be extremely beneficial in the foreclosure process. In this article we discuss a few of the main benefits you can glean from the assistance of legal counsel.
When to Get Help
If you are delinquent on your home payments after a certain amount of time (generally, 120 days under federal law), the lender’s attorney will begin a foreclosure lawsuit in court. Before the actual foreclosure process can begin, the lender will provide you with notice of their intention to begin foreclosure proceedings if you do not make up the past due payments. Unfortunately, this process can move very quickly.
By the time you start to receive notice from the lender, you may already be thinking about hiring an attorney. However, if you wait until notice has been delivered, an attorney will not have much time to take the steps necessary to defend you in a legal proceeding. By waiting too long, you may miss an important deadline, or even worse, it may be too late to get your home back.
The key is to engage an attorney as early in the process as possible. If you know that foreclosure is a possibility, it’s best to start speaking with an attorney so that they can ensure you are well protected and represented in any pending matter. Waiting too long can be tragic for your situation.
Navigate Legal Nuances
As touched on above, there are many important filing deadlines when it comes to the home foreclosure process. If any of these deadlines are missed, it may mean that you forfeit any right to get your house back. And filing deadlines are just one of the many legal nuances that not only differ from state-to-state, they even often change within a state or local jurisdiction.
Since the mortgage crisis of 2008-2009, foreclosure law has been constantly changing and evolving. With courts deciding new precedent-setting cases, and federal and state laws passing to protect homeowners, it is very difficult (or impossible) to keep up with all the changes to foreclosure and mortgage law. In fact, it can even be a challenge for many attorneys to keep apprised of all legal changes.
Hiring an attorney can help not only navigate these legal nuances, but help you understand them so that you can work together on your case. An attorney can also help with the complex defenses that come with fighting lenders to keep your house. For example, an attorney that practices foreclosure law in your jurisdiction will know if the lender did not follow local procedures, or if they did not comply with federal mortgage servicing rules.
These are just a few reasons why you need to hire an attorney for foreclosure. Just remember that it is crucial that if you believe that you may be entering the foreclosure process, consult an attorney as early as possible. The more time an attorney has to assess your case, the better your chances are of having a positive outcome in an otherwise negative situation.
Contact one of our foreclosure defense attorneys today.
Reach out to us today at 773-217-9623 to learn more about our foreclosure attorneys and schedule an appointment.