Why Should I Hire a Foreclosure Defense Attorney?

• 21 Jul 2023
• Loan Modification

Often, families have to relinquish their homes and enter into foreclosure due to non-payment of home-loan or property taxes. If there’s a mortgage default, banks and lenders waste no time filing for foreclosure. If this is happening with you, you are in imminent danger of losing your dream home. You have two options – either let go of your home, or if you wish to retain it, you’ll have to fight for it.

Even if there are a series of delinquent payments, you can still save your home from foreclosure by the bank by fighting for it. There are several defenses available in foreclosure cases. With a Foreclosure Defense Attorney by your side, you can fight your case and, in all hope, mitigate the crisis or even have the case dismissed. Several nitty-gritty of law can be worked around by a seasoned loan modification lawyer in Suffolk county to turn the case in your favor and allow you to retain your dream house. There are also many steps in the procedure where there may be an opportunity to help you win the foreclosure case against your bank. Your foreclosure defense attorney can help you in certain circumstances for sure where you have a good chance of winning, such as the following:

Proper Foreclosure Procedures Weren’t Followed.

When banks file for foreclosure against anyone, they must strictly follow each of the guidelines placed by law in each state. Banks are pretty well-versed with the procedures; however, sometimes, they use loopholes as opportunities to speed up the process, especially when they know that the defaulter does not have legal counsel. That’s a perfect opportunity for them to use these shortcuts instead of following the proper foreclosure procedures without anyone noticing or you realizing. The best way to avoid this happening to you is by hiring a loan modification lawyer in Nassau county who would be experienced in handling foreclosure cases and defending against such methods by banks. If the bank has done a violation, you can challenge the foreclosing, and if the challenge is successful, the court might even order the foreclosing bank to start over.

Foreclosing Party Cannot Prove Ownership.

To have the legal grounds to foreclose your home, the foreclosing party, i.e., your bank, must prove the ownership of your home. If they cannot prove the ownership of the loan they granted you, they lack “standing” to foreclose. Even though this is rare, sometimes banks cannot produce promissory notes proving the ownership of the loan. This happens if the debt may have been sold to other lenders, banks, or investors or when the loan was bundled and secularized. Your foreclosing attorney shall be able to spot any such gaps in the paperwork to help your case.

There Was a Loan Servicing Error

Mortgage services sometimes make mistakes in calculations when dealing with borrowers’ accounts. Some of these errors may be minor and some serious, but they can be used to defend against the foreclosure of your home. Some of the serious mistakes are grounds for defending your case that a seasoned loan modification lawyer in nassau county shall be able to do owing to their experience and practice. Modification lawyers in Nassau county, who are well versed with the state’s laws, would also be able to help you better if your home is located in Suffolk county.

Your Attorney Can Protect You From a Deficiency Judgment

If you cannot successfully achieve a loan modification and end up losing your home, the bank shall sell the property to recover the amount. If the home does not sell for the amount you owe to the bank, they can pursue you with a deficiency judgement under which you shall be required to pay the bank the amount that they could not recover. You’ve already lost your home in this case and will have to additionally pay for the deficiency amount, which can put your finances under further strain. However, such a situation can be mitigated. If they manage to negotiate well with the bank, your attorney can avoid the bank going ahead with the deficiency judgment, and you may be saved from the situation.

You May Have to Attend Foreclosure Mediation

If you are lucky, you may have the option of attending a foreclosure mediation before any of this happens. A foreclosure mediation shall be conducted between you, the homeowner and the lender, your bank to find an alternative to foreclosure. The mediation needs to be handled carefully because it is your chance at securing an alternative to losing your home. It also requires good negotiation skills to achieve a favorable outcome for you. It can be stressful for you to handle it all by yourself. Besides, you may not even be the best person to do it. 

A defense attorney with the right experience, expertise and excellent negotiation skills can represent you and attend the meeting on your behalf instead of presenting your case in the best manner possible and making a successful mediation.

Hiring a defense Foreclosure attorney can help your case and prevent you from losing your home. If you need a lawyer to fight your foreclosure case, an experienced attorney from Radow Law Group P.C. can represent you, help you navigate the complexities of a foreclosure case, and prevent a bad judgment in your case with their proper legal guidance. We offer services in multiple areas and have the best loan modification lawyer in Nassau County and other regions such as Great Neck, Brooklyn, Suffolk County, Bronx Manhattan, and Queens, New York. Get in touch with us to discuss your Foreclosure case today and increase your chances of a better outcome!