Homeowners should almost always try to fight foreclosures, since there are actually countless loopholes and methods in which people can oftentimes win their battles with their respective lenders these days. Still, the biggest way that anyone can increase his odds of success in a foreclosure fight is by having an experienced attorney on his side, says Ron Brown. Brown is a bankruptcy lawyer in Tulsa, and the owner of the Brown Law Firm, which specializes in just these types of cases.
One such way that a homeowner may be able to overthrow a foreclosure case and keep his home is if the lender that is trying to take the home away does not have the correct paperwork in order. “There are strict rules that a lender has to go through in order to get a foreclosure to go through,” Brown explains. “And a lot of times if forced for proof, the lenders can’t meet these requirements.”
One of the most obvious pieces of documentation that a lender must have in its possession in order to foreclose on a house is the original mortgage document, says Brown. Over the past few years, a number of lenders sold these documents to other banks and investors. If a lender no longer owns a mortgage, however, then it cannot legally foreclose upon the associated house. “The mortgage document needs to have the original signatures and the original assignments,” Brown says. “And when pressed to produce that document, a number of these lenders just don’t have it.”
Because most individual homeowners would not know the right questions to ask, it can be nearly impossible for anyone to stop a foreclosure without the help of an attorney. In Tulsa, a bankruptcy lawyer is vital for anyone considering trying to fight a foreclosure case, Brown insists. “Homeowners need to come in to an office like my own and seek out the advice of an experienced attorney,” he says.
Brown recommends getting the advice of an attorney immediately after it becomes apparent that you are not going to be able to keep up with your bills. “I recommend contacting a lawyer as soon as you have gotten behind,” he explains. “Don’t wait until you are served with the foreclosure paperwork, because by then it might already be too late.” The later on in a case that a homeowner contacts an attorney, the more fees and fines he is likely going to face in order to keep his home. “People need to get ahead of the problem, and that means coming up with a plan as quickly as possible,” he says.
For instance, an attorney can advise a client as to whether filing for bankruptcy might be his best option in a foreclosure case. “Filing for a Chapter 13 bankruptcy fits hand in glove with the foreclosure process, because you can actually stop the foreclosure by filing for Chapter 13,” Brown explains. Homeowners who file for a Chapter 13 bankruptcy can create a plan to pay back all of their arrears, or whatever is past due, and create a bankruptcy game plan to save the home, Brown says.
Of course, not everyone can be saved from foreclosure. In instances where the bank or lender does have its documentation in order, there can sometimes be very little for a homeowner to do. “Everybody is different, so you have to sit down and look at the entire situation before you can tell whether this is a foreclosure battle that can be successfully fought,” Brown says.
Even in times where the case might not be able to be won, though, Brown says that having an attorney who can guide you through the foreclosure process can have its benefits. “People need to come in and talk about what is going to happen in the foreclosure. An attorney can give them insight into what to expect throughout the process, and what the proper steps to take are going to be,” he says.
Because attorneys know what steps will come next, they can give you the best legal advice to help save your credit, even if they can’t actually save your house. Seeking out an experienced bankruptcy lawyer in Tulsa is going to give people the best chance of saving their homes or saving their money, says Brown. Many more people can actually save their homes from foreclosure if they just take the right steps to protect them. This is why it can pay to get advice from a licensed attorney as soon as it becomes apparent that you can no longer afford to keep making your monthly mortgage payments, rather than waiting until things get worse to finally seek help.
This article is for informational purposes only. You should not rely on this article as a legal opinion on any specific facts or circumstances, and you should not act upon this information without seeking professional counsel. Publication of this article and your receipt of this article does not create an attorney-client relationship.
