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When do you need a foreclosure defense lawyer

Having a home or property foreclosed on can be an agonizing process, but having someone that can properly advise on the variety of options available are one reason why having the foresight to hire a foreclosure defense attorney is an excellent bit of strategy, since it aids the homeowner in a number of ways.
The Benefits of Familiarity
For example, banks and lending institutions are quite familiar with what takes place over the course of a typical foreclosure, so they know what the most advantageous paths to take are when it comes to serving their best interests. That puts the homeowner in a difficult situation of trying to comprehend the many nuances of this process while also dealing with the stress of possibly losing their residence.
Exactly when to hire a foreclosure defense attorney may depend exactly where the homeowner is in the process. Of course, the best advice is to hire the foreclosure attorney as soon as the situation manifests itself, so that they’ll be able to offer the best advice each step of the way.
Determining what course of action to take might simply involve refinancing the mortgage at a rate that works for both the homeowner and lending institution. Either that, or a mortgage modification might be a solid plan of attack, since the vast majority of institutions would prefer to avoid foreclosure, and are willing to work to make that happen.
Short Sale
If the situation is more desperate than that, a short sale might be the way to go. This happens when the home is worth less than what is still owed, but qualifying for it can be a time-consuming process since a host of signatures from different people are required. While a short sale isn’t ideal, it’s better than foreclosure when it comes to a credit report, and having a foreclosure attorney to work with here can be invaluable.
Of course, a situation may be severe enough where the homeowner must file for bankruptcy. Here, two different types are available, depending on the personal situation. With a Chapter Seven bankruptcy, a person can have their debts removed, but can only keep exempt property. On the other hand, Chapter 13 allows a person to keep non-exempt property and also allows them to make up missed payments to get back on track.
Legal Issues
In some cases, the foreclosure very well might be the fault of the lender or other entity that caused the issue to surface in the first place. Additionally, this type of crisis can make it hard for a homeowner to focus on all the legal ramifications that may be presented over what can be a lengthy period of time.
The foreclosure laws and regulations that are on the books are ones that every company that’s looking to foreclose must follow. Failure for them to do so are grounds for voiding the process or possibly asking for damages for their inability to follow the legal guidelines.
Aspects to Avoid
As with anything that involves money, the possibility of unscrupulous companies or individuals getting involved in this situation exists. That’s because these groups know that many people tend to be desperate to avoid foreclosure in order to hold onto to their homes.
That mentality makes the homeowner vulnerable to what sounds like appealing alternatives, but end up not only costing the homeowner more money, but often result in the loss of the home anyway.
Knowing Where to Look
By using a foreclosure defense attorney who has a solid grasp on the overall housing market, the homeowner will be able to look for a viable company that’s been properly vetted by a qualified attorney. That simple peace of mind might be one hidden benefit that comes during this situation.
Getting Ahead of the Situation
The easiest thing to do in this situation is to walk away and let the bank deal with this situation. However, that’s something that’s short-sighted and might ultimately cost much more than it’s worth, especially when it might be avoided by working with a foreclosure defense attorney.

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