Foreclosure Defense Attorney: How Can They Help Your Case?
The threat of
foreclosure can be very stressful and intimidating. When you are facing
foreclosure, it may seem like there is no resolution available. The foreclosure
process is subject to specific laws that dictate how and when a foreclosure can
be pursued. If you have received notice or threats of foreclosure, then contact
a Gurnee Illinois foreclosure attorney to review your options.
What are some defenses to foreclosure?
Banks and other creditors must comply with certain procedures before they can pursue a foreclosure. Failure to abide by these rules could result in penalties or even prevention of the foreclosure sale.
The creditor must provide notice that contains specific information. They must follow the appropriate procedures to provide the notice to the property owner.
Persons who are subject to the threat of foreclosure may be able to take certain actions to delay any action. This may include loan modifications, bankruptcy, injunctions and payment arrangements.
A person facing foreclosure may also be able to find ways to satisfy the outstanding obligation. This could include refinance or other similar arrangement.
What should you do if you receive a foreclosure notice?
If you receive notice of a foreclosure, then contact a Gurnee Illinois foreclosure attorney immediately. Delay in seeking legal assistance may limit the remedies that are available. An attorney will be able to review your particular situation to determine if there are any defenses available.
An attorney can also help you develop a plan to challenge or otherwise slow down the foreclosure to give you an opportunity to take a breath and explore loss mitigation, or foreclosure alternatives, such as short sale, deed in lieu of foreclosure, or loan modification. In some situations, it may be beneficial to consider filing a bankruptcy petition, which would temporarily prevent the foreclosure from going forward and could help you retain ownership of the property.
Attorney Robert Tomei and the team at Tomei Law are available to assist you with your foreclosure questions. Attorney Robert Tomei strives to find a way to help you keep your property. Contact Tomei Law if you are facing a foreclosure.