If your are facing foreclosure, choosing a foreclosure lawyer is critical because you need an experienced attorney that knows the foreclosure laws and that can defend your rights and make sure that your lender has gone through the foreclosure proceedings correctly.
In addition, your foreclosure defense lawyer can provide valuable advice about alternatives to avoiding foreclosure. Since most mortgages contain a "reinstatement" clause, which means that the borrower can either come up with the defaulted amount of money to bring current any arrearages or negotiate a deal with the lender, such as a mortgage modification anytime during the foreclosure process or prior to the process. If a satisfactory resolution takes place, the lender must dismiss the foreclosure action.
Other foreclosure alternatives that a good foreclosure attorney will suggest to you are selling your home through a short sale process, selling the home if you have equity, refinancing your under the new rules that are part of the stimulus plan, rescission of the loan as a result of predatory loan practices, deed in lieu of foreclosure or bankruptcy, being the last resort.
You should not rely on real estate agents or foreclosure relief companies to solve your pre-foreclosure problems as they cannot provide you with all the legal options and remedies available to you. If you do decide to sell your home, then you will need a real estate agent to help you find the buyer and market your home.
However, even if you are selling the property as a short sale, you will need the advice and expertise of an experienced foreclosure attorney to help negotiate the short sale with your lender.
If you choose to stay in your home and you decide that a mortgage modification is the right alternative, then a foreclosure lawyer can help you effectively negotiate the modification with your lender and even sometimes negotiate forbearance, where the lender forgives part of the loan balance. Choosing the right lawyer, will make a difference in your success and keeping your home. The choice is yours, and you should consult with an attorney early on before the foreclosure process starts so you have the best opportunity to defend yourself and keep your home.
Consumers should educate themselves and keep informed about foreclosure laws and practices because it will help them make their decision on choosing the right foreclosure attorney. There is a lot Consumers should know before choosing a lawyer.
Also ask the lawyer about their fees and billing arrangements.
How will the lawyer communicate with you, how often, in what format, email, telephone, in person, in writing? You need to be able to contact the lawyer.
The more the Consumer can learn about the lawyer, the easier it will be to make the right decision. Consumers should be comfortable working with the lawyer they end up choosing.