Saving Your Home: 3 Tips to Avoiding a Bad Foreclosure Lawyer

When face to face with imminent foreclosure, it would be good to have an expert on your corner. Today, we look at a few tips on how to secure a good foreclosure lawyer for your home. How do you secure a good one? By avoiding bad ones of course!

What is a foreclosure lawyer?

These are lawyers who specialize in foreclosure defense and foreclosure cases. If you believe that you would like to pursue legal avenues, it would be best to hire a lawyer local to your area. Foreclosure laws and processes vary from one state to the next. So a famous lawyer from a different state may be of no use to you in your home state.

Foreclosure lawyers do not only mount your defense. They can educate you with options like mortgage modification and other alternatives to foreclosure.

Be Wary If: You Get Promises about Getting To Keep Your Home

There is no real way to tell if you will get to keep your property. What you can expect a good lawyer to say is that they shall fight your case to the very best of their abilities. While it is ideal that you get to keep your home, proper lawyers shall keep you realistic about the whole process and potential outcomes.

Be Wary If: You Get Assurances of “Special Deals” They Can Secure For You

Always remember that if something seems too good to be true, it probably is. There are no special deals or shortcuts that can help save your home. If there are, those are more than likely scams and are quite illegal.

There is no sense in trying to save your home from a foreclosure only to lose it to a conman.

Be Wary If: You Are Going To Be Charged Ridiculous Fees

Proper foreclosure lawyers are quite upfront with their fees. They will have clear breakdowns of expected costs. They will have flat fees that will depend on the complexity of your case. While it is to be noted that lawyers will charge you fees for filing and other bureaucratic process, they should not be worth the cost of a brand new house.

If your case makes it to court, you can expect an hourly rate charge to come into play. A good practice is to inquire with more than one law firm as some may have free first consultation. You can get a good idea of whether or not you’re talking to a bad lawyer simply by asking for a breakdown of fees. Do not forget to compare prices. You’re already in dire straits. It would make no sense to compound the issue with further financial burdens.

Always be mindful of the overall goal. If you want to keep your home, be sure to express this to your lawyer. If they suggest an alternative, do keep an open mind. If you do not like the suggestions given to you, you are always free to consult other legal representatives that bring you comfort.

Saying Goodbye to a Home: What to do When You Can’t Afford Your Mortgage

Are you facing the reality of losing your home because of a mortgage you can’t afford? Read on as we discuss your options when it comes to the real estate battle you have to face.
Things used to be so easy, weren’t they? It was pretty much the pinnacle of the American Dream to be able to purchase a home. However, if you’re facing foreclosure, you are not alone in this regard. It was roughly around two to three years ago when a startling number of American families defaulted with their mortgage payments.

What happens when people default on their mortgages?

If the issues that made parties unable to pay their mortgage are not resolved, foreclosure is imminent. However, it is not something that instantly happens. If you have defaulted on your mortgage, there is still some time before your lender sends you a notice.

The sort of notice you get will usually depend on the state your property is on and who your lender is. You will more than likely receive an initial notice. If payments still aren’t made, you will be given a notice of sale. If you’ve ever seen Happy Gilmore, this is exactly what happened to his grandmother’s house.

What can you do?

First off, it would be important to get yourself a legal representative. Law firms that specialize in real estate disputes are the best ones to go to in times like these. They can provide you with a clear understanding of what your options are.

If you are suddenly unemployed, you can apply for unemployed benefits. While it may not be much, it can still help.

What options are there if you want to keep your home?

The simplest one would be to pay your lender the amount due plus any late fees that you may have incurred. We understand, however, that this may be unreachable for some. So what other options are there?

You can choose to rent out your property. However, it must be noted that there are taxes and landlord responsibilities that come with this option. You may also choose to seek forbearance. This is an agreement in which you pay a portion of your standard payment for a set period of time. After this period has lapsed, you must return to paying the regular fee as well as the additional amount that has not been paid.

What options are there for those who cannot keep their homes?

You may consider choosing a short sale option. A short sale will help you avoid foreclosures and will shield your credit score from taking a massive hit. You will need to have your property evaluated. If the findings are that you owe more than what the property is worth, it’ll be time to approach a real estate specialist. They can help facilitate the short sale and you can enter a short sale agreement with your lender.

Keep your eyes open and you’ll be able to find a way to face your troubles head-on.