Millions of homeowners in the United States face foreclosure every year and thousands lose their homes. The highest foreclosures rates are in Florida, New Jersey and New York at 11%, 8% and 5% respectively. You can delay or stop foreclosure by hiring a professional foreclosure defense attorney to help you. The defense attorney will negotiate with the lender on your behalf and take steps to ensure that you do not lose your home.
Before you hit the road looking for a foreclosure defense attorney in New Jersey, you must know what a foreclosure is and why you need an attorney.
How Does a Foreclosure Work?
A foreclosure is a process in which a lender or creditor enforces their rights over a mortgaged estate and assumes ownership due to failure of a borrower to pay their mortgage. The lender only forecloses the property if the borrower has failed to pay back the loan in full.
A foreclosure is meant to enable a lender recover their investment. If the estate cannot be sold for what the borrower owes, a deficiency judgment can be pursued so that the deficiency is obtained from the homeowner.
Get Help from a Foreclosure Attorney
A foreclosure attorney can help you in various ways. The defense lawyer will provide legal assistance and can negotiate the monthly payments with the lender. If you are facing financial hardship such that you cannot pay back the loan on time, the attorney will present your case to the lender to seek for a review of your payments.
Legal assistance is very important especially when your case is temporary. The lawyer can have the foreclosure ward off until you are back on your feet. If you have no option but to let go for the house, the foreclosure defense attorney will still be of great help ensuring that the process is done according to the law.
When you receive the foreclosure papers, you will have only 21 to respond. If you fail to respond, you may lose the chance to defend your case in court. This news can be shocking and leave you confused, not knowing what to do. Sometimes, you may have to appear in court to answer to the lawsuit. Without legal representation, you are likely to lose the case.
When served with the foreclosure papers, you should contact a foreclosure defense lawyer to help you respond to the lawsuits properly and ensure your rights will not be infringed on. The foreclosure case can be overwhelming and leave you ashamed. A foreclosure lawyer will give you moral support along the way and you will feel much better knowing a competent professional that has your best interest at heart is representing you.
Hiring a Foreclosure Defense Lawyer
There are many reputable law firms in New Jersey where you can find foreclosure defense attorneys. You can search the Internet for reputable firms and look at reviews from their previous clients. You can also find a professional and experienced foreclosure defense attorney by asking for referrals from friends, family and acquaintances. You are more likely to trust a referral than a complete stranger.
Here are some tips that you should consider when choosing foreclosure attorney:
- Choose a lawyer experienced in foreclosure cases.
- Choose a lawyer who is willing and has the time to work on your case.
- Ask for referrals from friends and family.
- Visit and interview several lawyers before you choose.
- Go for a licensed professional attorney.
- Involve the attorney from the start and not when the proceedings are almost ending.
- Consider the experience of the attorney and the references from past clients.
- Discuss and agree on an affordable fee for the service you will receive
- Ask how often you will hear from your lawyer regarding your case.
The foreclosure process is too complex to go through on your own. If you have just received a foreclosure notice, consider hiring a qualified and experienced foreclosure defense attorney. The above tips will help you find a good lawyer who will ensure your rights are protected, the process runs smoothly and most important, your home is not foreclosed.
