Saturday, August 8, 2009

Things You Should Know When Hiring a Mortgage Attorney

Why High Priced Attorneys:

In most cases it is not necessary for the average homeowner to hire legal advise. Commonly whenever a homeowner hires high priced counsel they are paying for something that does not take a lot of energy or work to complete on their own. Many homeowners get nervous and worried about their mortgages being behind and they start to panic. Making a simple phone call to your mortgage company, and talking to them will get you on the right track towards straightening out your mortgage problems. I have heard about clients using attorney's to get out of foreclosure when they don't have to. That's a simple task in it self that does not necessarily require a foreclosure attorney that can get one out of foreclosure and back on track. A key thing that a person in foreclosure needs to do besides calling to their lender is to find out what date their property sale date is scheduled for, once they have that date, then use that date as their guide for making the payment if possible.

A homeowner that is in foreclosure can call directly to their mortgage company's foreclosure attorney to get their property sale date information too. If paying is not possible by the sale date, then just keep requesting for sale date extensions through your lender. There are some mortgage companies that will extend a sale date 5 time without the homeowner paying in come cases with the right reason. That is like getting another 5 months on top of the amount of time since the last payment was last made by the homeowner, which might add up to close to a year since the last payment with a few sale date extensions.

Now if a homeowner can't make a payment in 9 or 10 months for example, that person might not be the ideal candidate to be a long term homeowner. So ladies and gentlemen there are many ways around not making your regular mortgage payment which will affect your credit. However, you are not making any payments. We don't encourage this, but if you don't have any other choice then you might have to avoid paying, and squat on the property for a while and then eventually move out or pay up. In some cases homeowners have avoided mortgage payments for well over a year, and have legally continued to live on the property. There are strict rules when it come to foreclosing and auctioning off any property in all state. If you know how the "game" is played, you can use this to your advantage to try to fix your personal issues, and buy a little time to do so. Lookout for more mortgage updates coming soon.

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