Homeowners and Foreclosure Attorneys

I often wish that people had come to me sooner, before it becomes too late - or at least very difficult - to help them with the potential foreclosure of their New York home. Although I cannot speak to the legal options and consequences in other states, I am sure that most foreclosure lawyers would agree that homeowners who need help with foreclosure-related issues should speak to a lawyer sooner rather than later.

In these days of economic uncertainty it is not uncommon for people to arrive in a lawyer's office just a day or two before an impending foreclosure, or sometimes even after the foreclosure has occurred, looking for help to stop or reverse the foreclosure. Although there is often little that can be done to stop a foreclosure, sometimes there are problems with the mortgage loan or the servicing of the loan that may provide some relief to homeowners. Unfortunately, if those issues are not raised before the foreclosure occurs, the homeowner may lose their home and be left with no recourse to recover the home. In New York, in most cases, if the homeowner fails to go to court to try and stop the foreclosure before it happens, there is simply no mechanism for undoing the foreclosure as long as the procedural prerequisites have been complied with.

For the proactive homeowner, on the other hand, seeking the assistance of a foreclosure lawyer well in advance of a scheduled foreclosure may offer many options. Provided there are defenses to the foreclosure or affirmative claims related to problems with the loan or its servicing, an injunction may be obtained to prevent the foreclosure. Moreover, if there is time to avoid embarking on expensive litigation, a lawyer may be able to negotiate a resolution with the lender to save your home.

At the end of the day, if you are facing foreclosure it is never a bad idea to seek help from a foreclosure attorney sooner rather than later. A brief consultation will usually confirm whether there is a reason to retain the services of the lawyer to deal with your foreclosure problem. Even if there is nothing that can be done legally to avoid the foreclosure, an New York foreclosure lawyer can explain your rights and obligations, including the option to pay the amount owing and reinstate the loan, and the potential liability for a deficiency if the home is eventually foreclosed on.