When to Hire an Attorney to Fight Your Foreclosure
Both the economy in general and housing market in particular have experienced major upheavals. This combined with a several additional negative economic factors has resulted in a record number of foreclosures throughout the United States, causing untold devastation for American families.
Innumerable homeowners and renters facing foreclosure have no idea where to turn to for help. Despite all the lawyer jokes, an attorney can actually be your best asset in the fight against foreclosure.
Renters Can Be Foreclosure Victims Too
Homeowners far outnumber renders in terms of the percentage of people affected by foreclosures. However, renters can certainly be foreclosure victims as well – and in no small measure – if their landlords lose their homes or apartments to the foreclosure process.
Being a renter in a property pending foreclosure can be extremely confusing, so contacting an attorney early on would be prudent – unless you are already prepared to leave anyway. You will want an attorney who specializes in real estate and foreclosures.
What is the Foreclosure Process for Renters
Renters must be provided advance notice of the foreclosure and impending eviction well ahead of the day they are required to move out. This is mandated by law in most U.S. states. Even if you have a new landlord, that person still must give you at least several weeks notice if they need to evict you.
Depending on the laws in your geography, they may even be required to honor your lease to its expiration. This would allow you to remain in your house or apartment until your lease is up, buying you much more time to locate an alternative living arrangement.
The Foreclosure Process for Homeowners
Homeowners should still consider seeking the assistance of a qualified attorney to help push back on the foreclosure. A real estate attorney – primarily one specializing in foreclosures – will certainly know the ins and outs of the foreclosure process, helping you take advantage of legitimate loopholes and small windows of opportunities available to you.
Why Hire an Attorney
Attorneys are familiar with foreclosure procedures and possible means of stopping one. They can provide you expert advice on prudent actions to take and can also assist in dealing directly with your lender, thus preventing you from making costly mistakes that would normally decrease your chances of holding onto your home.
The foreclosure process is a grim reality, but you almost certainly do not know the specifics of all the laws and procedures involved. This is why tapping into the expertise of a real estate attorney can be your best opportunity to fight foreclosure.