If you are facing foreclosure, talking to a foreclosure attorney right away can preserve your options. There are many ways in which an experienced foreclosure attorney can help you keep your home, but there are deadlines. As time passes, options go away, and if you wait too long it could be too late to stop the process. Receiving a foreclosure notice does not mean that losing your home is inevitable.
Negotiating with Your Lender
A foreclosure attorney can help you keep your home by negotiating with your lender for loan modification which lowers your payments or by lowering the interest rate or the term of your loan. Your attorney may also be able to help you work out another agreement that satisfies the lender and avoids foreclosure for you.
Your lender may not tell you about all of the possible options for avoiding foreclosure, but your attorney can make sure that you know what all of your options are and that you pursue them properly.
Lenders can make mistakes that lead to foreclosure, even when you are making your payments. Lenders sometimes fail to follow the proper procedures. Some lenders break the rules and initiate foreclosure when they simply aren’t allowed to. Once you’re caught up in the process it can be very difficult to prove that the problem is with the lender not with you. Examples of defenses a foreclosure attorney can raise in fighting foreclosure include:
- Lender did not accept your payment
- Lender did not properly credit your payment
- Lender made other mistakes that qualify as breach of contract
- Lender cannot prove it owns the debt
- Lender did not follow foreclosure procedures as outline by state law
- You qualify for protection under the Servicemembers Civil Relief Act (SCRA)
To learn more about getting help, if you are facing foreclosure, please talk to an experienced foreclosure attorney right away.