How Can an Attorney Help Me if I'm in Danger of Losing My Home?

 

 

Video Summary

 

How can an attorney help me if I’m in danger of losing my property to foreclosure?  Well, the first thing that an attorney can do who does foreclosure defense is to explain to you the system or what’s going to happen. Information is power, and that way, you can then make some informed decisions as to what you want to do and how you wish to deal with it and what risk you have.  Many times, I listen and it bothers me when people say, “Well, I’m behind on my mortgage payments and I’m just gonna walk away from the property.”

 

Well, that’s probably the worst thing that anyone could do because then the property is subject to being vandalized and the value of the property goes down and nobody is a winner.  So I think it’s important to understand how long the process takes, as well as what the consequences are.  Also, people are concerned whether or not they’re going to have a judgment entered against them where the bank can take their assets or bank accounts and immediately want to start talking about bankruptcy.

 

Well, there is a lot of other options involved and some lawyers who do foreclosure defense can give you an idea of whether or not banks are even pursuing a money judgment against you.  Right now, foreclosures are taking probably nine months to a year.  So why would you want to move out and start paying rent if you could stay there, and if you’re not making your mortgage payments, maintain the property and then when it gets a little closer to being foreclosed out, you can – or having to move when the foreclosure process is over with go rent a piece of property. The rent’s right, just stay right there and then you can start building up a reserve in order to be able to afford another place to go.

 

So a lawyer primarily can give you your options and talk with you about what you want to accomplish, whether you want to stay in your home, whether you want to try and get a mortgage modification or whether you want to avoid a deficiency judgment.  All of these things are what a knowledge lawyer can help you with.  So if you have questions about a mortgage foreclosure or you’re in danger of your house being foreclosed upon, give me a call at 727-847-2288.

 

Thank you.