What happens if you are threatened with foreclosure?

In the event you are in default on your mortgage payments you may be threatened by the lender with foreclosure, in this event you must get a lawyer to advocate on your behalf. Foreclosure in Lake Worth is a legal process that can start when a loan payment is missed, normally the lender will make follow-up calls in hopes of getting the payment but, if three or four months go by with no effort to repay the loan then the lender will begin foreclosure proceedings in an effort to repossess the house.

Foreclosure lawyers work for either party; the lender or the borrower as required. In the event they work on behalf of the lender they see to it that the proper procedures are followed and should they work on behalf of the borrower they will attempt to negotiate a settlement that is attractive to all.

Like other members of the legal profession, those lawyers that advocate for others in foreclosure proceedings have attended law school and passed the bar exams, during their years in law school they will have taken elective courses that give them the grounding to focus on this area of the law. Many lawyers who deal with foreclosure in Lake Worth have an independent practice while others may work in the legal department of banks and other lending institutions.

Foreclosure lawyers who work for a lender process the foreclosure which must be done in complete accordance with state laws, no two of which are absolutely identical. They have to draft letters of demand which are sent to the mortgagee demanding payment as well as preparing the filings for the court. In the event the borrower decides to contest the foreclosure action, the attorney will see the case in court.

On the other hand there are the borrowers; they too must have legal representation when they find themselves threatened with foreclosure. In this case the lawyer ensures that the lender is complying with the law at each stage of the foreclosure proceedings. The lawyer will study the loan and look for areas where there may have been misleading statements made which may be fraudulent, in this event, or a something similar the lawyer will file a case which will prevent the foreclosure from happening while the outcome is still pending in court.

It is important that a borrower in default and facing foreclosure in Lake Worth get legal representation as soon as possible.

If you are being threatened with foreclosure in Lake Worth you will need legal representation. You are invited to contact the law offices of Sean I. Koplow and take advantage of a free initial consultation.

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