When You Need an Attorney

In the United States, foreclosures are hitting an all-time high. With the
uncertainty of the economy, businesses, companies and even the stock market
are suffering, and everyone is worried about whether or not they will have
a job tomorrow.

Most media attention surrounding foreclosures is focused on the property
owner. Yes, many of the individuals facing foreclosure are owners of single
-family homes that they live in, but not always. A large number of rental
property owners are finding themselves in foreclosure also. As a renter,
you may be curious as to what your rights are. If you want professional
assistance, an attorney should be contacted.

In keeping with renters facing eviction due to foreclosure, proper notice
must be given. Regardless of who is trying to have you evicted, whether it
be the bank or the new property owner, proper notification is a must. In most
states, a written, legal eviction notice is needed. Depending on your state,
you may be given a month or more to move. Generally, you will not be expected
to move out overnight. Also, until an eviction notice has been served, you
can't have your belongings moved from your apartment or have your utilities
shut off. If this occurs, contact an attorney right away.

If you are a homeowner facing foreclosure, it may be in your best interest to
consult with an attorney right away. As soon as your bank issues intent of
foreclosure, it's best to explore your legal options. Remember however, that
you may want to work out an agreement with your financial lender, as they too
want to avoid foreclosure.

One of the many reasons why you are encouraged to contact a lawyer, namely one
who specializes in foreclosure, is because they have legal tricks up their
sleeve. A lawyer can help you stop foreclosure proceedings in their tracks.
One of the ways this is done is by declaring bankruptcy. Bankruptcy can
temporarily put a hold on foreclosure proceedings. In some states, homeowners
can receive protection when filing for bankruptcy, meaning that their home can't
be touched. Since there are various rules and restrictions concerning this
exemption, professional legal advice is recommended.

Unfortunately, another issue that you face during foreclosure is having to deal
with foreclosure scams. There are individuals and companies out there who claim
to be professionals who can help you get back on track. They may offer to buy
your home or and draft up a new mortgage for you. Many times though, homeowners
end up paying more money than before. Do not let yourself become a victim and
if you do, contact an attorney immediately.

Better yet, companies implementing the above mentioned foreclosure scams will
require that you sign documents, which may essentially turn over ownership to them.
Never sign anything without reading it yourself, but have an attorney take a look
as well. When doing so, do not use the lawyer recommended to you. Instead, choose
a lawyer that is locally based and well-known and trusted throughout your community.
Ask those that you know for recommendations or find ratings and reviews online.

As previously stated, you may want to contact an attorney who specializes in
foreclosures as soon as you spot trouble on the horizon. This is important, as even
the best lawyers have their hands tied when the foreclosure proceedings actually
start. Remember that a warning of intend to start foreclosure, does not mean that
the process has already started. That is why it is vital that you seek professional
advice as soon as possible.