Tag Archives: Mortgage

When You Should Hire a Long Island Foreclosure Lawyer

The prospect of foreclosure is always a daunting one. After all, no struggling worker ever wants to lose their home.

While there are avenues that you can go through to help you fend off having your home foreclosed, one of the biggest questions that most people in this predicament grapple with is whether or not to hire a foreclosure lawyer.

The benefits are obvious, as anyone who avails a lawyer’s services also profits from their expertise. However, some people hesitate to hire a Long Island foreclosure lawyer because of the added expense. They often reason that they are already up to their eyeballs in debt, hence the foreclosure, and that they have little money to spare as a result.

So, what instances would make it necessary for you to hire or at least confer with a Long Island foreclosure lawyer? The following are the top three situations where such is the case:

1.) You are currently serving in the military. One of the upsides of serving in the military is that it affords you special rights in certain areas. Home ownership is one of these areas. Under the Service members Civil Relief Act or the SCRA, anyone on active military service would enjoy an elevated form of protection from home foreclosures.

In some cases, such as when you took out the mortgage before signing up for active duty, it would take a court order or a waiver from the military service personnel in question to see a foreclosure through.

Foreclosure HouseWhile the SCRA certainly provides those in the military with a great deal of advantages when it comes to foreclosures, its provisions can often be quite numerous and confusing to someone who is not well-versed in the law. Thus, having an experienced and qualified Long Island foreclosure lawyer on your side can help you navigate the SCRA’s provisions better so that you can both make sure that whoever is serving the foreclosure will recognize your rights and follow the correct procedure.

2.) You have a very good defense for keeping your home. Hiring a qualified Long Island foreclosure lawyer will help raise your defense even more especially if the foreclosure is judicial in nature (i.e., the lender was the one who filed the suit for foreclosure). However, you can also hire a good foreclosure lawyer in cases where the foreclosure is non-judicial in nature (i.e., where you filed a lawsuit yourself).

While virtually all foreclosure cases are highly nuanced and are thus mostly different in nature, it is unlikely for the average homeowner to successfully mount a strong defense in court without the aid of a lawyer. There are also certain defenses that would absolutely require the aid of a qualified lawyer, and the following are just a few of them:

  • The plaintiff cannot prove that they own your defaulting loan. This can happen in cases where mortgages are bundled off to different security companies. However, proving that the default loan is not under the ownership of the plaintiff would be quite difficult without the assistance of a trained and experienced lawyer.
  • The one servicing your loan made a serious error regarding your account. Since companies that accept payments from borrowers often make grave mistakes (e.g., misapplying funds, levying unreasonable charges, etc.), a foreclosure lawyer who excels at interpreting payment histories can help you determine a sound defense against foreclosure based on any glaring errors.

3.) You need assistance with modifying a bank loan since the institution appears to be stalling. Some banks slacken the loan modification process by stalling, and this is in violation of mortgage servicing rules. A qualified foreclosure lawyer would be able to help you rectify the situation and provide you with a sound defense at the same time.