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Should You Hire a Foreclosure Attorney?

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Should You Hire a Foreclosure Attorney?

Should You Hire a Foreclosure Attorney?

When you are facing foreclosure, you may not know where to turn or what to do. Foreclosure can be a complicated process that is made even more stressful because you know you are losing your home. You may be wondering when you should hire a foreclosure attorney. Legal experts recommend that you consider hiring an attorney early in the process when you have more options as the longer you wait, the less likely you will be able slow or stop the process.

Foreclosure Notice

If you are significantly behind in your payments, your lender can start the foreclosure process, allowing them to sell your home to recoup their investment. Before they can do that, however, they must send you what is called a foreclosure notice that informs you that they plan to move forward with legal action.

In most cases, you will have a set amount of time, usually 30 days, to bring your account up-to-date. It is at this point you should hire a foreclosure attorney, especially if you know you cannot catch your payments up in the specified time. An attorney may even be able to slow or stop the proceedings if they are hired soon enough.

What an Attorney Can Do

One of the reasons to hire a foreclosure attorney is that they can work with your lender and may be able to work out a loan modification that will help you catch up your payments and remain in your home. An attorney can also provide information about loss mitigation options, such as partial claims, a type of loan that can help you bring your account current. Lenders rarely offer those options to homeowners. Lenders have also been known to break the rules during foreclosure. An attorney will know when rules have been broken and they may be able to stop your foreclosure completely.

A foreclosure attorney will guide you through the foreclosure process, which is complicated and stressful. They will represent you at foreclosure mediation which is required in some states. They can also bring defenses that you may not know exist. An attorney may also be able to help you file for Chapter 13 bankruptcy which can also help you bring your loan current and keep you in your home. If you are facing foreclosure, have received a foreclosure notice or are simply behind in your mortgage payments, contact Georgette Miller and Associates to learn how we can help. You can fill out the simple form or call to set up your initial consultation.