Fight Foreclosure
Fight Foreclosure
Homeowners need to know their rights on how to fight foreclosure. One of the worst things to have happen in a lifetime is losing your real estate investment. Hiring an attorney is the best thing any home owner can do.
What most home owners do not probably know is that when a home is foreclosed upon and sold at auction, the selling price is a fraction of the cost of the home and the amount owed to the lender. That being the case, the homeowner is still responsible for paying the difference to lender, even though they do not live in or own the house anymore. Having a foreclosure defense is the best way to protect your investment.
Foreclosure Defense Law Group can negotiate with your bank before the foreclosure take place. Lenders who realize they are in for a fight with an aggressive defense are more apt to negotiate a settlement than to take the case to court and lose. There are many outcomes that a defense lawyer can make available to the home owner that include keeping the home and fight for it or giving up the home by giving the lender the deed but without any personal judgment against the home owner.
For those home owners who are in an upside down loan situation, getting rid of the property might make sense for them. They may think of turning the keys over to the lender or bank but there could be a personal judgment for deficiency against them after that. Instead a lawyer might advise the home owner to go after a short sale on their own. Even though the amount of the sale will be lower than what the home owner owes the bank, the bank most likely will agree to a settlement for the balance.
It is a bad idea to just give up the home and turn the keys over to the bank without consulting an attorney. It is a sure way to get a personal judgment of deficiency against you which is valid for twenty years and result in garnishing of wages, attachments to future real estate or personal property.
For more info, please visit;
http://www.returnthedeed.com
Homeowners need to know their rights on how to fight foreclosure. One of the worst things to have happen in a lifetime is losing your real estate investment. Hiring an attorney is the best thing any home owner can do.
What most home owners do not probably know is that when a home is foreclosed upon and sold at auction, the selling price is a fraction of the cost of the home and the amount owed to the lender. That being the case, the homeowner is still responsible for paying the difference to lender, even though they do not live in or own the house anymore. Having a foreclosure defense is the best way to protect your investment.
Foreclosure Defense Law Group can negotiate with your bank before the foreclosure take place. Lenders who realize they are in for a fight with an aggressive defense are more apt to negotiate a settlement than to take the case to court and lose. There are many outcomes that a defense lawyer can make available to the home owner that include keeping the home and fight for it or giving up the home by giving the lender the deed but without any personal judgment against the home owner.
For those home owners who are in an upside down loan situation, getting rid of the property might make sense for them. They may think of turning the keys over to the lender or bank but there could be a personal judgment for deficiency against them after that. Instead a lawyer might advise the home owner to go after a short sale on their own. Even though the amount of the sale will be lower than what the home owner owes the bank, the bank most likely will agree to a settlement for the balance.
It is a bad idea to just give up the home and turn the keys over to the bank without consulting an attorney. It is a sure way to get a personal judgment of deficiency against you which is valid for twenty years and result in garnishing of wages, attachments to future real estate or personal property.
For more info, please visit;
http://www.returnthedeed.com