When many homeowners receive notice of an impending foreclosure action, they often believe they have no option but to lose their home if they are unable to catch up on their payments. Some homeowners do not even consider consulting with a foreclosure defense attorney because they are concerned about the expense or believe they can handle their case on their own. However, there are many situations in which property owners should definitely consider consulting with a foreclosure defense attorney as soon as possible. In many cases, a foreclosure lawyer can help you find an alternative to foreclosure or can mount an effective defense against the foreclosing mortgage company. The following are only some ways an experienced attorney can help you.
Negotiate With The Mortgage Lender
If you are behind on your payments and know you are risking default, a foreclosure defense lawyer will understand how to approach the mortgage company and negotiate to see if there are any alternate arrangements that may allow you to avoid the initiation of a foreclosure action. Loan modifications, short sales, and deeds in lieu of foreclosure may be available so you do not have to go through the foreclosure process. An attorney will understand a lender’s requirements for such alternatives and can present persuasive arguments in your favor.
Identify Defenses Against Foreclosure
If your lender has already filed a foreclosure action, it is still not too late. As in any type of legal case, you have the legal right to defend against the claims you face. Foreclosure defenses can include the following and more:
- Procedural mistakes made by the mortgage lender;
- The mortgage lender cannot provide the documents necessary to prove it owns the mortgage loan;
- You are not actually behind on payments and the default was due to an error or fraud on the part of the mortgage company;
- You were the victim of predatory or fraudulent lending practices or the lender otherwise violated state consumer protection laws.
Often, a property owner may not even realize that a defense is available, as discovering an applicable defense can require investigation, collection of information, and legal analysis under Illinois foreclosure laws. For this reason, if you fail to consult with an attorney, a foreclosure may go through that otherwise could have been avoided. Unless you actually want to give up your home, it is wise to contact a knowledgeable foreclosure attorney as soon as possible.
Consult With An Elgin Foreclosure Defense Lawyer Today
If you have fallen behind on your mortgage and want to discuss your legal options or if you are already facing foreclosure, you should not hesitate to learn more about how a qualified foreclosure attorney can help you. At the Jackson Abdalla Law Group, we offer free initial consultations with no obligation, so you have nothing to lose by speaking with a member of our legal team today. Located in Elgin, our office also serves clients in South Elgin, St. Charles, Bartlett, Streamwood, Carpentersville, and more. Please call today at 773-550-3853 for more information.