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In our current economy many people are finding themselves in a foreclosure situation. It’s on the news every night about people losing their jobs and no longer being able to pay their mortgage or find themselves behind in their payments. If you have tried talking to your lender to make arrangements and have gotten nowhere it may be time to find a foreclosure defense attorney Tampa. Once you get a Notice of Default it is definitely time to find an attorney.
Understand once you receive a Notice of Default your lender has their attorney working on your case. If you don’t have a foreclosure defense attorney Tampa working for you, you will be at a disadvantage. There are several things your attorney can do for you.
Once you have a foreclosure legal professional on your side they may be able to stop your lender from going on with the foreclosure. Once you have an attorney your lender will have to deal with them only and you will be relieved of the stress. Your attorney will know how to talk to your lender as well as other attorneys.
Having an attorney that is experienced with handling foreclosures is of the utmost importance. There are federal laws in place that need to be followed, but each state also has their own laws and guidelines. Finding a local foreclosure defense attorney Tampa will be key in being able to maybe stop a foreclosure in its tracks.
After you receive a Notice of default you have a limited amount of time to respond to the notice. If you do not respond you are giving your lender the advantage. They may be able to get a decision in their favor quickly.
Your foreclosure attorney may be able to negotiate a loan modification for you. Your attorney should be familiar with the new federal laws currently in place. There may very likely be a way to negotiate a new payment plan that will better fit your budget.
If you should decide that keeping your home is outside your current budget you attorney may be able to arrange a short sale in lieu of a foreclosure. A short sale means you are able to sell your home for less than what you owe on your mortgage. Your lender will have to approve this. But if your attorney can negotiate a short sale it will save you from all the ramifications of a foreclosure.
