Foreclosure can happen to anyone. It’s not something that someone tries to get themselves into but rather a series of unfortunate events can lead to foreclosure. Maybe you lost your job and have been searching for a new one for the past year causing you to fall behind on your mortgage. Or maybe a family member was suddenly diagnosed with cancer and you needed to pay for the surgery and chemotherapy treatment which made you unable to pay your mortgage bills. Or maybe you are active military and your family wasn’t able to make the mortgage payments while you were deployed? Whatever the reason, you fell into foreclosure and now you have to decide your next course of action. In this post, we’ll discuss when you will need to reach out to a foreclosure defense lawyer, and when you may not need to.
Deciding if you need a foreclosure defense lawyer
Simply stated, foreclosure happens when you do not pay your mortgage and the bank plans to take possession of your home. When facing foreclosure you have a decision to make – to fight your case or allow the foreclosure to take place. There are pros and cons to each decision. If you do nothing and let your home be foreclosed on, you will no longer be responsible for the mortgage. In extreme financial hardship, this would be a blessing to no longer have a large financial burden over your head. However the negative consequences of letting your home go into foreclosure include wrecking your credit score which could prevent you from getting another mortgage, obtaining certain jobs, and you may owe a deficiency balance on your home.
If you believe the foreclosure was wrongfully given and decide to fight the case, you should enlist the help of a professional. They will not only provide you with legal counsel on what you should do about your case, but they will also do a lot of the heavy lifting for you. They will file a notice of appearance which states you want to contest the charge, they will answer any summons or complaints, and they will work with you to develop the best defense possible to help you keep your home.
Some common foreclosure defenses include ensuring that the proper foreclosure procedures were followed when presenting the notice of default, showing that the lender’s practices were unfair (i.e. they didn’t advise you of increasing or changing interest rates etc.), or making the mortgage company prove they are the actual, legal owners of your mortgage. With the help of a good lawyer, your foreclosure case can be prevented, stopped, or at least delayed so that you can stay in your home longer.
If you are facing foreclosure, it might not be a bad idea to speak with a foreclosure defense lawyer in Tampa, FL – whether or not you decide to use one. They will be able to answer any questions you may have and can help you decide if taking legal action is the best decision for your situation.
Thanks to The Law Office of Michael A. Ziegler, P.L. for their insight into bankruptcy law and foreclosures.