Lenders enjoy an advantage when filing for a foreclosure complaint. This is part of their regular business and hence, they are more knowledgeable in the processes involved. More often than not, they have existing relationships with attorneys to aid them into achieving a favorable result. On the other hand, borrowers are often disadvantaged, not just due to their lack of financial capacity but also of proper knowledge of the process.
To top it all off, the emotional burden can overwhelm the defaulting borrower into paralysis. In Long Island, a foreclosure attorney helps such clients even out the playing field and stand a real chance to defend their rights and protect their homes.
ImageWhen dealing with foreclosures, know that there is not only one course of action. Borrowers do not have to be forced into a corner; they should be able to explore alternatives. In addition to that, this service may be achieved free of charge through professional counselors certified by the Department of Housing and Urban Development. Unlike attorneys, counselors do not charge by the hour and borrowers are able to fully discuss their situation and explore their options.
Even if the borrower does decide to hire an attorney, speaking to a counselor is not a waste of time because he may be able to help find a suitable attorney or ease the process. If borrowers have insufficient funds to seek help, there are always legal aid offices they an approach.
It is important to get professional help when you suspect that the lender is illegally or unjustly gaining advantage. These could be grounds to complete dismissal of the case, easily giving you space to breathe. However, if no proper legal action is taken, there may be irreversible consequences.
Stalling or dual tracking.
Although most lenders would still prefer to amicably settle the mortgage, borrowers might encounter some who purposefully stall attempts to explore other payment options in order to fulfill the obligation. On the other hand, dual tracking is an illegal course of action wherein the lender simultaneously pursues foreclosure action and load modification requests.
If borrowers realize belatedly that they have entered into mortgage agreement that is beyond their capacity to fulfill, they should hire an attorney to look into this further.
In Long Island, foreclosure attorneys pay close attention to the lenders’ ability to comply to due process. If they file motions without proper notices, this is reason for borrowers to pursue a dismissal of the case.
Error in origination or servicing.
There are times when loan services make errors in servicing accounts. Such circumstances include the charging of unreasonable fees, incorrect application of funds and failure to properly credit payments.
Time and money are of the essence in any legal proceeding. Hence, it is important that borrowers take enough time and effort to discern which attorney will be able to address their needs and goals best.
Choose an attorney who exhibits competency and mastery of foreclosure laws. Aside from his knowledge, his character is also important. After all, borrowers need someone who can help navigate their way through this maze. Your attorney must be goal-oriented, with a course of action set in mind and clearly explained to the defaulting borrower. He must also be thorough and objective in his review of all the pertinent documents and situation of the borrower. Last but not the least, he must have the borrower’s best interests at heart.
A telltale sign of an attorney’s capability is the number of cases he is handling. Can he give proper attention to each of his cases? Or does he merely have a few cases, making him lack the necessary experience needed?
Knowing when one needs an attorney and which one to hire will save borrowers money, time and effort when faced with foreclosure complaints. It is okay to feel at a loss, but help from Long Island foreclosure attorneys is always available for borrowers to enforce their right on their property.