How to Prevent Foreclosure – Legal Expert Awards -- eLocalJul 27, 2012 10:19 EDT
Home foreclosure is a painful process that can involve an entire team of professionals, including realtors, lenders, bankers, and lawyers. As a homeowner, negotiating the process with so many entities is, at the very least, an overwhelming task. Your best chance of resolving a foreclosure without ruining your credit score or ending up without a home is to utilize those who are deeply familiar with the foreclosure process.
Real estate lawyers and realtors specializing in foreclosures can help homeowners avoid losing their homes or assist them in transitioning to an acceptable alternative. We wanted to find out what options were available for homeowners facing foreclosure. Real estate lawyers and realtors have helped outline your best options for keeping your home and maintaining your credit score.
How Can I Protect Against Foreclosure?
When foreclosure threatens, what are your options for keeping your home? Is there a way to protect yourself legally? When is it smart to concede to a foreclosure? Can a realtor or real estate lawyer help prevent foreclosures from happening? What about taking advantage of foreclosed houses? Are there any legal requirements for buying a foreclosed house?
Legal Expert Awards
This award goes to Roy Oppenheim from Oppenheim Law.
“The worst thing you can do is nothing. Usually once you’ve been served you have between 20-30 days to respond to a foreclosure. Sometimes when people get served they ignore it, or they think they have no chance, so they just give up right there on the spot.
If you don’t fight, you have no chance, plain and simple. You’ll get a clerk’s judgment against you and then you’re screwed. You should never EVER leave your home until the deputy is at your door to kick you out. Stand your ground and engage the banks. There are still plenty of missing or fraudulent documents turning up in our cases, even post-servicing settlement.
It is imperative that every homeowner make the bank prove that they own the mortgage, and that they have the legal standing to foreclose on you. If you engage the banks, you will suddenly find you have options that were not previously presented to you. Even if you do end up losing your home, fighting your case will give you time to put aside money, so you can get your life back on track.”
Roy champions homeowners to never give up fighting for their home. In many ways, this is the best information for those who think they don’t have a chance. Every foreclosure would go through if no one fought against them.