If you are new to foreclosure proceedings, you may miss critical steps that can impact your case. This is why hiring a foreclosure lawyer Ogden UT is essential. If you want to keep your home, you can’t afford to do guesswork when you need to fight the foreclosure in court.
Many Utah residents are struggling to keep up with house payments, and imminent foreclosure is just around the corner. The earlier you hire a foreclosure attorney gives you more options and a better chance of saving your property.
If you are falling way behind on your mortgage payments, you need to know the benefits of consulting with a foreclosure attorney as soon as possible.
Why You Need To Hire a Foreclosure Lawyer in Ogden UT
If you are more than 120 days delinquent on your mortgage payments, federal law gives the lender the right to begin a legal process we all know as a foreclosure. This allows the lender to sell your home to repay the loan you owe. Many borrowers are not familiar with federal laws that protect homeowners. A good lawyer can help you with different options.
The lender must send you a mail called a “breach letter,” which serves as a notification that they intend to begin foreclosure proceedings if you don’t update your payments on your loan. To prevent foreclosure from proceeding, you need to bring your loan to current within a specific timeframe, usually 30 days.
When you receive a breach letter, this is the best time for you to hire a foreclosure attorney in Ogden UT, especially if you can’t catch up on current payments, and you want to retain your home. Waiting too long before hiring a lawyer can result in complete foreclosure, which leaves you without a home.
Avoid Foreclosure
The foreclosure process is hard to understand, even for a lawyer. Court procedures are different from state to state, and a lawyer can help assist you. If you miss an important deadline or if a lender completes foreclosure before you hire representation, you might not be able to get your home back.
If you want to fight foreclosure, a lawyer can help file documents, navigate the rules, and give advice on various options.
Repayment plans can be arranged with your lender so that foreclosure can be avoided. With this plan, you can catch up on your loan by paying your regular payments with an additional approved amount. A repayment plan is easy to negotiate because it doesn’t change the terms of the loan.
A lawyer can also negotiate with your lender for a lower interest rate for a short period then reverting to paying the full rate within a negotiated time frame.
Loan Modification
There are ways to avoid foreclosure without involving the courts. A foreclosure lawyer can help you work out a deal with your bank to halt foreclosure proceedings.
A loan modification is an agreement between the lender and borrower that changes the original terms and conditions of the loan. An attorney can assist you by negotiating for a lower interest rate or extending the terms of amortization. He can also review the new terms and conditions under the loan modification. He will make sure that there are no illegal charges made and that the loan modification is beneficial to you.
Defend Your Rights
Lenders can take advantage of borrowers in the loan modification process. Federal law has strict requirements that lenders should follow, but this is not always observed by lenders.
A foreclosure lawyer can ensure that a lender follows all the relevant laws and regulations pertaining to your loan modification application. Your rights as a borrower are enforced.
Representation in Mediation
In states where foreclosure mediation are available, it is ideal to have representation. A foreclosure attorney can represent you in foreclosure mediation proceedings. Your attorney handles negotiations as you try to work out an alternative to foreclosure with your lender.
Help in Chapter 13 Bankruptcy
In situations where a lender won’t modify your loan, it can be a good option for you to file a Chapter 13 bankruptcy. An attorney can help you file, and if you qualify, you can keep your house and bring what you owe to current in the course of three to five years.
Foreclosure Lawyer Ogden UTGodfrey Law: One of the Top Foreclosure Lawyers in Ogden UT
If you are facing foreclosure proceedings, you need to know the process, rights, and loss mitigation options. Most Utah homeowners don’t have enough funds to buy a new home in cash. They take out a loan from a bank or mortgage company to finance the deal. The borrower agrees to comply with the payment schedule and agrees that the lender can sell the property to pay for the loan if the payments fall behind. Losing your home in this situation is imminent, and hiring a foreclosure lawyer Ogden UT is your best option. Our team of foreclosure attorneys can help you throughout the process and protect your rights as a borrower.
It’s always best to have experienced experts by your side to guide you every step of the way. Here are the top reasons why you should hire us:
- Free Consultation
- Best rates in Utah
- Trusted
- Reliable
- Accurate Advice
- Full-Assistance
- Free Evaluation
- Over three decades of experience
- Strict with Confidentiality
At Godfrey Law, we have an advanced technology-driven process management system in place that leads to the best results at lower costs. We have been handling foreclosure proceedings for Utah residents and business owners since 1984. That’s many years of experience in helping families get through every scenario you can think of. We would love to share details in the foreclosure process that may help you make significant decisions.
Let’s talk! Allow our trusted and reliable foreclosure lawyers in Ogden UT to help you save your home!
Give us a call or send us a message on our website today for a free consultation.