If you have received a foreclosure letter, questions about who can help me stop foreclosure may be the main thing on your mind. The first thing you should consider is communicating your financial trouble with the lender that provided your home loan. This can often save you from foreclosure proceedings because many government programs that have been implemented in states across the U.S. in order to help keep homeowners from losing their property. However, these programs don’t cover all situations, and lenders aren’t generally required to qualify you for certain programs.
Lenders and Your Rights
Lenders aren’t obligated to inform you of possible options to stop foreclosure, and it is up to you as a property owner to know them. Most people are under the assumption that once foreclosure proceedings have begun, the homeowner has no other choice than to do as he or she is told to do by the lender. With the proper legal advice, a homeowner can enter foreclosure proceedings more confidently, knowing that there are other options that are still available.
What an Attorney can Do
Your attorney:
- Has the knowledge necessary to speak with your lender
- Your attorney will ensure your rights are being protected under all of the applicable foreclosure laws, and
- Your attorney is familiar with all of the processes and regulations associated with foreclosure in your state.
An attorney will do the bulk of the legwork in your case for you, making your foreclosure a much smoother process.
When to Contact your Attorney
You may hear a couple of different answers on when you should contact your lawyer, from “as soon as you get the letter of intent” to “once you know you’re going to foreclosure court”. The truth is, the time period when you contact an attorney to either consult or handle your case for you, should depend directly on your comfort level.
If you’re comfortable in the fact that you know enough about your rights regarding foreclosure law, then you don't need to have a lawyer handle mundane tasks you can certainly handle yourself. However, if you aren’t sure you know everything about foreclosure law, you really shouldn't be dealing with your lender in matters any deeper than your monthly payment.
How to Get Help
Regardless of your situation, at some point in the foreclosure process, you should seriously consider consulting an attorney who is experienced in matters like financial law and foreclosures. These individuals can be a great help to your well being when it comes to dealing with lenders threatening to foreclose.
