Instances Where It Helps to Hire a Foreclosure Attorney
Losing a home to foreclosure is a real possibility for many individuals who cannot afford mortgage payments. If a homeowner does not pay their bills or abandons their property, a bank or another credit lender has the right to seize control of the house in question and claim it as their own. Before anyone gets to that point in a mortgage case, they should consider hiring the assistance of a foreclosure attorney. Trinity residents would be glad to know that there are ways to slow down the foreclosure process, as well as creating a defense to help you keep your home.
Inconsistencies That make a Foreclosure Void
Companies that deal with credit and loan payments are subjected to strict guidelines and policies because of the nature of their business. If one of these stipulations are broken by the company claiming possession of a foreclosed home, it can create a case for the defendant to keep their home. When someone hires the assistance of a foreclosure attorney, Trinity residents might discuss with them ways that they may keep their home. One issue that can cause a foreclosure to be void is if the foreclosing party cannot prove that they own your loan at the time they begin the foreclosure. If a credit lender cannot prove they own your loan at inception, then they have no right to owning your home.
Getting an Extension on Living in Your Residence
Some individuals know that they are at fault as they cannot afford to pay their loan off. Keep in mind thought that just because someone fails to make a payment, they do not have to be out of their home as soon as possible. With the help of a foreclosure attorney, Trinity residents facing foreclosure may get an extended period of time while they are facilitating the foreclosure sale. This can take up to several months or in some cases several years before a ratification of the sale.