Every homeowner in foreclosure should have good legal representation from a foreclosure defense lawyer. Protecting you from your Bank’s creative business lawyer and legal team, a foreclosure attorney will fight to not only keep you in your home, but also to get you back on financial track under more manageable mortgage terms.
A foreclosure defense lawyer will be thorough in a complete a forensic loan audit of all your mortgage documents for fraud and predatory lending violations. Violations to this legislation are present in over 80% of all residential loans since 2003 and can easily derail any foreclosure proceedings. In addition to halting your foreclosure, evidence of predatory lending violations can be implemented to aggressively counter sue the mortgage holding bank for damages.
Ideally, these procedures delay the foreclosure process 1-2 years allowing the homeowner to get a grasp on their financial situation. During this window, your foreclosure defense lawyer is working to settle with the lender for reduced principle, lower interest rate, real estate attorney fees and/or a brand new loan.
Also creating an estate plan with lawyer for foreclosure can help you protect your assets. Estate planning allows you to choose who you want to inherit your assets in the method and at the time/stage/event of your choice. It also allows your kin to avoid costly court fees during the probate process, not to mention estate planning attorney fees.
In 2012, Americans lost an estimated $192.6 billion in wealth due to 2.3 million foreclosures conducted. Avoid becoming a statistic and seek the right legal counsel for you when facing foreclosure. Because just like people, every situation is different. References.