Seriously! Do you have a plan of attack if they foreclose on your home? Have you thought about what you want to do with your home? If you have, then keep reading because I would like to share some information that may be helpful. Read More
There are obviously only 4 plans of attack, as follows:
1. Stay in your home.
2. Stalling for time because you don’t know what to do.
3. File a lawsuit because you’re a victim of mortgage fraud
4. Short sell yur home.
These plans could be used in conjunction with each other or you may want to focus on just one. In any event, a foreclosure attorney will not be useful in plans 2 and 4.
Stay In Your Home
Plan 1 may not require a foreclosure defense attorney either, if it is not coupled with Plan 3. Plan 1 can be implemented merely by negotiating with your lender for a loan modification, forbearance agreement, lease option, HAMP, HARP, HAFA , HAUP loan or some type of loan that will help you. You don’t need an attorney to negotiate a loan modification unless you’re uncomfortable with making resolutions. Just know, that there are solutions for staying in your home that can be worked out with your lender. Many people have done it.
The only time you really need a foreclosure attorney will be for the filing of a lawsuit for illegal/fraudulent foreclosure proceedings because you want to stay in your home.
Should you decide to hire a foreclosure defense attorney take a look at a list that I have compiled that may be of some assistance.
Stalling for Time Because You’re Not Sure What to do
If you’re just stalling for time, then negotiate with your lender and/or contact a bankruptcy (BK) attorney to assist in the stall process. However, remember that when you file a bankruptcy, it will be a short-lived process, because a BK will last about 45-60 days. Also, if you’re short on cash, consider hiring a paralegal service they can do the same job as a BK attorney for a significant savings..
It may not be necessary to file bankruptcy or even hire an attorney if you only need a few months to stay in your home.because most mortgage servicers and lenders are so backlogged that time will probably be on your side.
File a Lawsuit Because Your’re a Victim of Mortgage Fraud
If you are a victim of mortgage fraud and want to stay in your home, then hiring a foreclosure defense attorney will be a wise investment on your part. Here’s why! A foreclosure attorney will discuss all of the available options with you and have a strong strategy that should work in your best interest. (Be mindful of the fact that there are never any guarantees or promises to winning in any lawsuit regardless what type it is).
However, that’s why you’re paying the “big bucks” because their expertise, experience, education and knowledge is going to give you the “edge” to win in court. There are many strategies that your attorney should and will discuss with you, that is …if they’re knowledgeable.
Have some type of goal or plan of action in mind, because when you talk to an attorney, if you’re anything like me when listening to all of their mumbo-jumbo legal jargon, you may come out confused as heck and not know what the attorney said. Be sure to read my strategies for victims of mortgage fraud.
If you plan to represent yourself in court (going” in pro per”)or just want to stall your lender. You will need a bonafide claim to win in court.
Knowing what to ask and expect and staying focused on your plan of attack should be your main objective when speaking with an attorney. Please review my list of foreclosure defense attorneysthat may be able to help you.
Whatever your plan of attack may be, don’t feel guilty about staying in your home while making this decision. After all, you have a right to be there.
Share your thoughts.
The author is not an attorney and is not rendering legal, financial, or other professional services. The information contained on this web site is the authors opinion based on her personal experience. If you need legal advice, consult a competent attorney.