Winning the battle in your Foreclosure Defense

There is nothing worse than an unfortunate situation happening and you start slipping behind on your home payments and can’t repay the loan you took out for your dream house. The house you’ve raised your family in, made memories in and woke up in for the last 10 years.

But don’t be too worried, many people have gone through this and similar events and have come out the other end with their home still on their names and a smile on their faces. For professional help and advice visit sites such as https://www.finelawoffices.com/ and receive the quality service you deserve.

Having a home to raise children in is a lifelong dream of almost everyone, to have that security and knowing you can provide for your family. So if something was to prevent that from happening, such as the dreaded word ‘foreclosure’, it can put a serious damper on things.

What is foreclosure?

Essentially it is a process whereby the person that initially lent you the money takes action to get that money back by having you sell the asset you put up as collateral when signing the loan agreement. Basically, they sell your house to get their outstanding money.

It can be life-changing if this happens to you and can ultimately break up a family, something that nobody wants to see happen.

There are different variations of the foreclosure process, some of which we will discuss later in this article, but for the full and more in-depth explanation into what exactly foreclosure is, then click here and get a better understanding of the legal side of things and how the process progresses.

If there is a company that can help stop this process, and there are, be sure to look into it. Loan officers will do anything to get their money no matter the outcome for you and your family, but a law firm specializing in foreclosure defense can use different sections in the law to have this overturned

5 Tips when looking for a Defense attorney.

• Counselor. Before a counselor will sit and speak with you or even listen to you, you’re going to need to have your papers in order. Have a timeline of events stating what happened to you written on a page for them to look over, keep all correspondence with your lender as well as all bank entries up to the date of your meeting.
• Lawyer. You’ve sat with the counselor and now it’s time to get a lawyer, this is best done through referrals or if not be sure to have sufficient research and advice under your belt. You can read here about what an estate attorney does, and other opinions on the subject that might put your mind at ease.
• Time to mean business. This is your life at stake, you need to put on your game face, your big boy pants and go into that meeting armed with knowing what you want. Tell them the outcomes you would like, the procedures you’re willing to work with, it’s not about trying to make a new buddy, this is real life.
• The problem. This is where you get your money’s worth. They are going to look at all the criteria, were you baited into a loan bigger than you were qualified for or could afford? They will investigate essentially whether the practices set out by the lender were legal and appropriate. If you were ‘defrauded’ in any way they will find the weak link and expose them for it.
• Too good to be true. As much as we want to believe it, be wary of lawyers who claim they can either do absolutely nothing, charge a set fee for the full process from beginning to end without knowing how long it might take or say they can flat out save your home. Gut feelings should raise a red flag, go with your instinct.

You can find out more information looking at https://www.bankrate.com/finance/mortgages/8-tips-for-choosing-a-foreclosure-attorney-1.aspx and better educate yourself on this stage of life you’re at, knowledge is never wasted. You will always be able to tap into what you know, and it might just be the key to success.

Why people end up in foreclosure?

When we take that step onto the property ladder it is a big feeling of achievement, for most of the population they don’t have the funds or financing to pay the full amount upfront and thus a deposit or down payment is usually made. The rest is paid with a loan they have taken.

Due to workers not earning the full amount needed to pay off the loan annually, when signing the agreement of the loan it more often than not states that the home you are buying is put up ‘as the payment’ if you can’t afford repayments during your loan period.

Perhaps you had a good position at the company you worked for, but due to budget cuts you were made redundant, this has a massive impact on your life and your bills month-end. If you are unable to find work soon, it becomes a slippery slope very quickly.

You could have been in an accident that left you unable to return to work for a long while or perhaps not again. While accident pay and insurance can and does pay out, it’s usually not enough to cover mortgage repayments, month-end bills and the day to day life costs so you end up in a backlog of debt.

And you’d be surprised how many people find themselves in this predicament, watch this video of someone on the brink of foreclosure and see how it is to be in someone else’s shoes. It’s never a happy place to be, life throws us ups and downs, but we are strong and we can get through it.

I’m not saying it’s going to be easy, but if it means that the result is you staying in your home, then it’s certainly worth every effort. And even more so when you have a loving family to take care of, makes it all worthwhile.