Foreclosure Attorney

What to Know about Foreclosure Attorneys
Foreclosures can be a stressful and upsetting experience.  Many people who face foreclosure do not have the necessary background to understand specifically how the proceedings work and the consequences of their decisions.  

If you get a foreclosure notice, this means you are being notified of a lawsuit.  The lawsuit is being brought against you by a bank for defaulting on a loan.  A foreclosure attorney can make sure that the bank has approved the foreclosure proceedings properly.  People who are not conscious of the fact that banks have to abide by standard foreclosure proceedings many times lose their homes unnecessarily.  A foreclosure attorney can also directly communicate with your lender, delay the foreclosure process, help you correctly file for bankruptcy in order to avoid foreclosure, and ascertain what are you best options. 

A very critical component to the foreclosure process is time. When a lawsuit is first issued, you have only 20 days to file a response to a court. If you do not respond with a strong defense, then the situation will quickly cascade into a series of harsh consequences that cannot be stopped. After the opportunity has passed, the ability to defend you against a foreclosure is completely lost. If legal counsel from a foreclosure attorney is used during this time, the outcome can completely turn around. If you are facing a foreclosure suit, it is recommended that you contact a foreclosure attorney immediately to deal with the issue. Early involvement from a foreclosure attorney can save you from having to experience difficult financial problems, like tax liabilities, deficiency judgments, or other credit issues.

After a foreclosure suit has been filed against you, you will then be summoned to court. If you do not have an aggressive foreclosure lawyer to represent you, your chances of winning the case reduce significantly. 

A foreclosure attorney will help you fully understand your options and assist you with making the best decisions.   You may also have questions regarding your foreclosure that a foreclosure attorney can answer.  Common questions include the following: 
• Do I have any other options besides foreclosure?

• Will foreclosure affect my credit, and if yes, how so?

• How will I know what option is the best one for my situation?

Always remember that there may be alternatives to the foreclosure process. Even with an extensive amount of research about specific avenues of recourse, you have probably missed many details that a foreclosure attorney would be well aware of. 


Finding the Best Foreclosure Attorneys
If you believe a foreclosure attorney is right for you, you need to begin searching through the best foreclosure attorneys in your area.  You can start your search for a foreclosure attorney for recommendations or referrals for foreclosure attorneys. It is ideal to find foreclosure attorneys that have handled cases similar to yours.  You may wish to ask:
• Friends, families, and colleagues who had similar cases

• Friends or family who either have a connection at the court or work at a court

• Local association for attorneys such as the state bar association

• Other professionals who interact with foreclosure attorneys like bankers or real estate agents

You can also try to find foreclosure attorneys through quality assured online attorney directories that provide listings of experienced foreclosure attorneys. These sites often provide information on foreclosure attorneys by different categories, such as type of law, geographic location, experience, cost, and reviews.


Meeting with Foreclosure Attorneys
The first step your foreclosure attorney will take is sit with you and assess the situation. They can review your history of past mortgage payments, review your employment situation and discuss the reasons why you have fallen behind on payments. You might find that your first consultation with a foreclosure lawyer will seem like you are talking with a trusted friend when you share such intimate information regarding your finances. The other services a foreclosure attorney will provide will be an analysis of all available defenses you can use in your foreclosure hearing. Foreclosure attorneys can review all possible counterclaims that you might be able to use in the case. Foreclosure attorneys will also provide you with a sound defense and a strong legal presence throughout all legal proceedings that you might encounter. 

Many times during the foreclosure process, a homeowner may delay contacting a law firm regarding their foreclosure situation. While it may seem more reasonable to contact a foreclosure attorney after court papers have been filed, in reality it is best to contact a foreclosure attorney as soon as you receive a letter from your lender regarding your defaulted payments.

Once court papers have been filed, the case is now considered an ‘active foreclosure’ which results in extra fees to deal with. If you contact a foreclosure attorney early enough, he or she may be help you avoid those fees, which can range between $2500 and $4500. Foreclosure attorneys will provide other possibilities to prevent the foreclosure from ever taking place. For example, a foreclosure attorney may be able to provide the option of a reinstatement of the loan. Alternatively, if you have a 401k or other savings, you can take money from those accounts and reinstate a loan by making a lump sum payment towards the balance owed. 


The Foreclosure Attorney's Role
Your foreclosure attorney will not only will work with your lender to work out an alternative to foreclosure and also defend you in a foreclosure proceeding. When you hire a foreclosure attorney, he or she can do the following to help your case:
• A full examination of the conditions and terms of your mortgage, purchase agreement,  or other relevant documents

• A full understanding of your side of the case, your financial and personal situation and your objectives and interests

• An investigation of your inability to make mortgage payments on time including any mitigating circumstances that can explain your default, for example illness or the loss of your job 

• An examination of potential defenses to the foreclosure complaint and any potential counterclaims you can use 

• Negotiations with the lender to figure out a solution to the foreclosure case

• An evaluation of possible options to foreclosure that may be in your best interests

• Passionate defense of your interests during all court filings and proceedings


Questions for Your Attorney
To sort through possible foreclosure attorneys, meet up individually with each foreclosure attorneys for short consultations to discuss your situation. You should also answer the following questions
• Will I have to leave my house after the bank begins the foreclosure process?

• I cannot afford to pay off everything I owe in missed mortgage payments, but I can begin to make regular payments again. Should I be sending in payments?

• How will I know if the bank is adhering to the legal rules for the foreclosure process? 

• What do you think the outcome of my case will be?

• Do you have experience handling foreclosure cases? If so, how much?

• How long do cases like this typically take to get resolved?

• Do you have any advance degrees, continuing education courses, or special knowledge about this field of law?

• Will you work on this personally, or will most of the work go to your staff?

• Can you explain your costs and fees and explain how they are they billed? 


Foreclosure Attorney Costs
A foreclosure attorney will require a reasonable fee for his services. Usually a foreclosure attorney can cost between $500 and $3,000 or more, depending on the complexity of your case and the time spent on your case.  Based on your mortgage agreement and the relevant laws in your state, your lender may be required have to pay for your foreclosure attorney's fees if your foreclosure attorney is successful in receiving a court judgment in your favor.