Should I Hire a Foreclosure Attorney?

Should I Hire a Foreclosure Attorney?

Facing foreclosure is scary and tough and if you truly want to save your home from foreclosure in Orlando getting an attorney sooner than later would be your best option. By hiring an attorney earlier in the foreclosure process, you ensure that you have all your options available to you and can help you figure out the best ones. Attorneys can help work out a deal with your lender to stay in your home or fight the foreclosure process which can help save your home foreclosure in Orlando. One thing is for certain though, wait too long and you just might be out of luck.

Time to Get Help

By falling behind on your mortgage payments, you put yourself at risk for foreclosure. Typically, this is more than 120 days behind on your payments. After that, your lender can begin the legal process of foreclosure which allows them to collect what they are owed or evict the tenant from the property. Before this, though they must send you, an official letter notifying you of the potential foreclosure and to give you time to catch up on the debt. As soon as you receive this letter you should consider getting in touch with an attorney, especially if you know you will not be able to catch up on the payments. Waiting too long before hiring an attorney decreases the chance of you being able to save your home from foreclosure in Orlando. Having an attorney can make sure you don’t miss any important deadlines or documentation.

What Will an Attorney Do?

Foreclosure is tough and can be very frightening to homeowners. You have to be sure you get all documentation, and deadlines correct or you risk losing your home. An attorney can help ease this process and get the proper paperwork and keep track of any deadlines.

Fighting a foreclosure is a process that is also done through the courts which had a trusted attorney by your side, they can easily handle all procedures with the judge and court for you. The biggest benefit of having an attorney though is that they can provide experienced and valuable advice and inform you of all your options. That can range from working out a deal with your lender, to filing for bankruptcy.

Working with Your Lender

A foreclosure attorney can work with your lender and save your home from foreclosure in Orlando multiple ways.

Help Modify Your Loan: A loan modification is a way to save your home from foreclosure in Orlando but only if you and your lender can come to an agreement. An attorney can assist you in this process by looking over the new terms of the documents. Usually, with a loan modification, a change is made in the interest or duration of the loan and you must show you will be able to pay off the new payments. Having an attorney can also help you and examine any illegal fees or charges in the documents.

Representation: Certain states allow you and your lender to come together in what is known as foreclosure mediation. This is when the borrower and lender work together to find a solution alternative to foreclosure. An attorney can represent you in the negotiation to ensure you are treated fairly by the bank.

Loss Mitigation Options: Certain loans have special loss mitigation options that allow you to bring your balance to good standing by using another “loan”. While not always available it is good to look into this option. An attorney can advise you if this is an option for you as not all lenders will bring to your attention your options.

Ensures Fair Treatment: Lenders aren’t the most helpful when it comes to loan modifications and other aspects of foreclosure. Laws are set into place to keep lenders in line but an attorney can be helpful in ensuring that lenders follow and abide by the law.

Representation

An attorney if representing you in court may be able to provide help by pointing out errors that the lender has made. If enough evidence is shown it is possible to save your home from foreclosure in Orlando. Things they can say include:

• Pointing out if the lender or mortgage servicer breached the contract by failing to accept your payment.
• Showing the foreclosing party can’t prove it owns the mortgage debt.
• Showing you are an active military member protected against foreclosure.
• Lender failed to follow proper foreclosure procedures.

If your attorney brings up a point that the court agrees with your lender may agree to a settlement or the case may even be dismissed.

Filing for Bankruptcy

An attorney may advise and help you file for bankruptcy if it can help save your foreclosure in Orlando. A multitude of reasons for filing for bankruptcy includes not being able to afford a lengthy and expensive legal battle.

Key questions to ask your attorney-

1. Do I have any defense against the foreclosure?
2. How long will the process take?
3. Are there any alternatives I can work with my lender?

Save your home from foreclosure in orlando

407Foreclosure Help has helped hundreds of families out of foreclosure for over ten years. We pride ourselves on being able to offer many ways to help those in need. Anything from connecting you with a knowledgeable attorney, listing your home in a short sale or direct sale, or inform you of your options you may not have been aware of. Save your foreclosure in Orlando and reach out to us today! Click here to get in touch with a foreclosure real estate professional today!