When to Hire a Foreclosure Attorney
If you are a homeowner who is struggling with making their mortgage payments and are facing foreclosure, it may be time to decide whether or not it is in your best interest to hire a foreclosure attorney. In many cases, you will need a foreclosure attorney to assist you, as the entire foreclosure process can be extremely complicated. Here at AMA Law, we understand how emotionally draining the notion of losing your home can be. It is overwhelming, to say the least. However, the longer you wait to retain the services of a knowledgeable bankruptcy lawyer, the more difficult things can get. Foreclosures are tricky and come with many different loopholes and challenges, which is why you should get legal help in order to figure out how to proceed with your case. In the state of Oklahoma, you should consult with a bankruptcy lawyer the minute you are served with a foreclosure lawsuit. Unfortunately, Oklahoma has one of the highest foreclosure rates in the nation, which is why it is important to take action as soon as possible. Our legal team will immediately contact the banks, courts, and any other parties involved, doing everything in our power to help your keep your home.
The Foreclosure Process
It is important to have an understanding of the foreclosure process before anything else. This will give you the knowledge necessary to know when it is time to ask an attorney for help. If you do not take legal action immediately, the foreclosure process will usually move forward in the following steps:
- Your lender contacts you in regards to your missed payments
- You receive a notice of default and request for payment from your lender
- Your lender hires a local attorney who then files a foreclosure complaint with the courts
- The court mails you a copy of the complaint and gives you 30 days to file an answer
- The attorney files a motion for a default judgment
- The court grants the motion and issues an order of sale to the sheriff
- Your home is appraised by someone hired by the sheriff
- Your home is advertised as a foreclosure sale or a public auction of your home takes place
- Your home is sold
- The new buyer has the right to take over the property and asks authorities to evict you
The foreclosure process is a quick one, taking place within a two-month period. Because of this, it is critical that you contact a bankruptcy lawyer as soon as you receive a foreclosure complaint from the courts and your lender.
How an Attorney Can Help
A bankruptcy lawyer will not only defend you in a foreclosure proceeding, but he or she will also work with your lender to find an alternative to foreclosure. This is great news for you, as it may mean you will be able to keep your home. Once again, it is imperative that you bring on a legal team right away when you are notified of foreclosure, as the process can move very quickly and you will need to be proactive. The effectiveness of a bankruptcy attorney in helping you find an alternative to foreclosure will depend a lot on how early the attorney gets involved. If you are facing foreclosure, contact an attorney from AMA Law today.