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If you have received a notice for the foreclosure on your home, you are probably scared and confused. Losing your home is the last thing that you want to happen to your family. If you are considering whether or not you should hire a foreclosure defense attorney to help you, the answer is most likely yes. A foreclosure defense attorney can review your individual situation and come up with a strategic plan to help solve your problem. With the help of an experienced attorney, you may be able to keep your home and lower your payments. A Foreclosure Defense Attorney Can Help A skilled foreclosure defense attorney can help you in a wide variety of ways. The type of help that you receive depends on where you are in the foreclosure process. An attorney may be able to help you gain approval for Loan modifications are permanent adjustments to the original mortgage terms. Loan modifications can help a person to obtain an affordable mortgage payment. Applying for a loan modification requires extensive paperwork and proof of financial hardship. The problem is that banks are not necessarily motivated to provide a modification; the larger the modification, the less the lender profits. A foreclosure defense attorney can negotiate with the financial institution on a more even playing field. A foreclosure defense attorney may also assist a homeowner to expedite the loan modification. Some banks have been known to take months on processing a debtor’s loan modification application. Some organizations have bad reputations for giving homeowners the runaround with loan modifications. Delaying the loan modification process makes mortgage payment more difficult for the debtor. Additionally, some banks have delayed the process for such a long time that the debtor is in foreclosure. Foreclosure defense attorneys have the negotiation skills required to speed up a loan modification. Sometimes notifying a bank of its illegal practices can get the ball rolling a lot quicker on certain paperwork. A foreclosure defense attorney can also review a person’s documentation to make sure that the bank suing for foreclosure actually owns the loan. In some cases, the bank that is taking the person to court is not even the bank that owns the mortgage. In such cases, an experienced foreclosure defense attorney can have the case thrown out of court. Additionally, an attorney can look into a mortgage and review the issuing bank’s practices. Thousands of mortgages were approved to single moms, unemployed individuals, and other people who could not afford them. If the foreclosure defense attorney finds fault in the issuing bank's approval process, he or she could protect the homeowner from foreclosure. Getting Help from a Foreclosure Defense Attorney Getting help from an attorney is quite simple. A financially troubled homeowner should hire an experienced foreclosure defense attorney as quickly as possible since foreclosure can happen fast.
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