If you have just been served with a foreclosure lawsuit, it is important to understand your legal options before you seek help. Timing is everything! You should act quickly if you wish to save your home.
The first step is accepting that you need legal help. If you are looking online, you may find an overwhelming number of law firms offering to handle your case. It is important to understand the difference between the various practices, and also why a foreclosure defense attorney is the best choice.
Bankruptcy Attorney- A bankruptcy lawyer is a lawyer whose specialty is in bankruptcy. Their practice is solely focused on bankruptcy, or perhaps almost exclusively dedicated to bankruptcy. While they are experts in helping clients when it comes to bankruptcy, however they aren’t the right choice when it comes to defending a foreclosure suit. Though bankruptcy and foreclosure may overlap, they are two different types of cases. In a bankruptcy case, the individual or entity can’t repay any of the debts owed to creditors, while a foreclosure deals only with the inability to repay a mortgage.
If you file for personal bankruptcy under Chapter 7, an automatic stay is placed on all your creditors, including the foreclosing lender. A stay is a ban placed on creditors to stop them from going after you or your assets. However, the stay is only a temporary solution, and it won’t permanently stop a home foreclosure. On the other hand, filing Chapter 13 bankruptcy can usually lower your mortgage payments and help you keep your home. Although filing for Chapter 13 might sound like the perfect solution, you need to be aware that it is very difficult to qualify for a Chapter 13 reorganization plan, and that it is not advisable when a mortgage is your only outstanding debt.
Consumer Protection Attorney- A consumer protection attorney is any lawyer who fights for the rights of consumers. Attorneys dedicated to consumer protection typically handle court cases brought on by a group or “class” of individuals who have suffered the same harm.
While foreclosure defense is part of consumer law, it is typically best to hire an attorney that focuses exclusively on foreclosure defense.
Foreclosure Attorney- A foreclosure attorney is a lawyer who primarily handles foreclosure cases. A foreclosure attorney may either represent the bank or the homeowner during the foreclosure process. At Graham Legal, P.A. we are exclusively dedicated to defending the rights of those individuals who were wronged by mortgage lenders and who are either facing or are at risk of facing foreclosure.
A foreclosure attorney has extensive knowledge over foreclosure cases and proceedings and is best equipped to help homeowners avoid foreclosure. Foreclosure can be avoided through the use of several tactics including short sales and loan modification. Since a foreclosure attorney focuses primarily on defending homeowners, they are usually the best choice in defending a foreclosure case.
A Real Estate Attorney- A real estate attorney, sometimes referred to as a mortgage attorney, focuses primarily on real estate law. They typically review both documents and real estate transactions, including the purchase, lease, inspection and appraisal of a property. They also help resolve title insurance and environmental issues. In some cases, real estate lawyers will also defend homeowners against foreclosure or help the bank secure a foreclosure against a homeowner.
While a real estate attorney deals with matters related to real estate, their primary case load does not revolve around foreclosure. This does not mean that they can’t handle a foreclosure case, however it may not be their area of expertise.
When choosing an attorney to defend your foreclosure suit, it is advisable to consult with attorneys from several law firms. Take advantage of free consultations. No matter which type of attorney you ultimately choose to go with, they must be highly experienced in handling foreclosure cases and should be able to prove their track record. Make sure to ask for references, and inquire about what percentage of their cases are foreclosure defense cases. Hiring a foreclosure defense attorney is an important decision, as one of your most valuable assets is at stake.