If you are facing foreclosure because you have been delayed in your mortgage payments for several months, most probably the lender is trying to force you to pay up. The lender may issue a foreclosure action which gives them authority to sell your home. The laws governing foreclosure are very strict and favor the rights of the lender, especially if you failed to pay your loan or if you knowingly missed payments.
In order to avoid legal repercussions which can affect your future purchase of property, you need to act immediately to resolve the matter.
One thing you can do is get legal advice from a Long Island foreclosure attorney. He can act on your behalf, negotiating with the lender and working out mutual terms to avoid foreclosure of your home. He knows the best option in getting you out of the situation. He can give you sound advice to lessen the harm on your credit rating. He will help you manage your available finances, making it easier to pay the dues. Of course, he’s also capable of getting the payment period adjusted.
A Long Island foreclosure attorney with extensive experience in assisting people with this dilemma can explain possible ways to avoid the dreaded foreclosure of your precious home. He can help you decide on the best option for resolving your current situation by making you see the benefits of the different strategies available. He can also enlighten you on the foreclosure laws applicable in your jurisdiction.
Hiring a Long Island foreclosure attorney is important, especially if the bank or lender is threatening to file a lawsuit and your time is running out. You need to deter the action by dealing with the demands of the lender or engaging in legal battle. When the lawsuit is filed, you only have 20 days to respond to the court. If you fail to give a convincing or aggressive defense, the decision will favor the lender. In short, you will lose your opportunity to stop the foreclosure of your property.
Since attempting to reclaim your home is not an option, it is necessary to find the best Long Island foreclosure attorney to represent you in the court. In this situation, the professional knowledge and ability of your chosen attorney can turn the decision of the court in your favor and you will have the chance to enter an amicable settlement with the bank. To avoid court battles which are both stressful and costly, you need to make an early move to settle the problem.
Your attorney can also check if the bank or lender follows (or followed) every relevant law in attempting to sell your property. If he sees that there are loopholes, he can file a petition to stop the auction and request the matter to be investigated further. In case your application is not approved, your attorney can look into the matter and determine if the decision is fair and in compliance with banking laws.
The early intervention of a Long Island foreclosure attorney can also help you avoid other financial problems (like tax liabilities and deficiency judgments) which are additional burdens. Getting the assistance of an experienced foreclosure lawyer will give you access to many possible resources and facts that are unknown to the public. Without a doubt, these things can help you avoid losing your home.
At this point, it should already be clear how important a lawyer is when it comes to battling foreclosure. So, don’t be like those who chose to dodge the expenses associated with getting legal advice; don’t think twice about hiring an attorney.