If you choose to go the financing route, you’ll have to comply with all kinds of rules and regulations before you get the key to your home. After you have it, your monthly mortgage needs to be paid. Failing to pay could lead to a foreclosure order, meaning you might end up losing your home. Well, this is often a bank’s last resort after giving a series of reminders to pay your dues.
But what if you do not have the ability to pay because of financial difficulties? You can talk to them and ask for more time to pay up. If they deny your request and threaten to file a court order to foreclose your property, it is time to seek help from a Long Island foreclosure attorney.
You need to search for a lawyer with a series of successful cases against these mortgage companies. It will be easy for such a legal expert to win your case and protect you against unfair lenders. These lenders have connections with other lawyers who aid them in getting favorable orders or in issuing legal summons.
As pointed out, there are lawyers who can help you fight the battle against these lenders. It may be your fault by not paying regularly but you need the protection to prevent the loss of your property. Remember, you have rights imbibed in state and federal laws against foreclosure. These rights can be your ticket to avoiding the foreclosure of your property.
If you’re worried about a legal professional’s fees, search for law firms that offer reasonable but quality service. There are even professional counselors who help clients free of charge. If you are financially incapable to pay for a lawyer, search for those certified by the Department of Housing and Urban Development. With them, you can discuss fully your situation and explore possible options because they do not charge by the hour unlike private attorneys.
Still, a good Long Island foreclosure attorney can help you quickly find out if the lender is gaining advantage over your predicament. Filing a foreclosure is part of business for some lenders. They do it to protect their interests and to recover their money. Fees are often unjustly added by lenders, but you’re not capable of knowing if they are valid or not. With the help of a credible lawyer, you can correct your account and stop the foreclosure process.
Your Long Island foreclosure attorney can look into the matter, finding out whether the following have been used against you:
- Dual tracking – It happens when your lender utilizes requests on loan modification and foreclosure action simultaneously.
- Stalling – The mortgage company does not want to settle the matter amicably despite your numerous attempts to discuss options to pay your obligation.
- Predatory lending – this has probably been used if you find out after some time that your mortgage payment is too high and it gives you difficulty in settling your account.
- Procedural Mistakes – a Long Island foreclosure attorney knows that there are lenders in the area who do not follow due process. If it’s proven that the lender filed a complaint without issuing the necessary notices to remind you to settle the account, the case will likely be dismissed.
These are just a few examples of the underhanded tactics used by financial institutions to trick the unwary. As said, it’s unlikely that you’d be able to spot these on your own. That’s why it’s vital that you seek legal assistance right away. Let a lawyer review the situation and find out if the lender actually complied with the foreclosure laws in your area.