A foreclosure is when a mortgage lender seizes property from a borrower who has defaulted on their mortgage payments. The purpose of a foreclosure is to enable the lender to resell or auction the property to reclaim the money owed by the borrower.  

A borrower has a right to fight the foreclosure in a court of law. However, the rules and processes governing foreclosures are pretty complex. As a result, it is advisable to hire a foreclosure attorney to help you fight or resolve a foreclosure. 

Foreclosure attorneys have tremendous knowledge and experience in handling different foreclosure cases. Thus, seasoned foreclosure attorneys have various methods of preventing or delaying foreclosures. 

Here are three ways a foreclosure attorney can help you avoid foreclosure. 

1. Mortgage Mediation and Modification 

Several states have mortgage mediation programs that enable lenders and borrowers to negotiate a reasonable solution before a foreclosure. However, negotiations with a lender are not always an easy task. Most lenders are only interested in solutions that enable them to recover the money you owe as quickly as possible. 

As a result, it is advisable to have a foreclosure attorney guide you through the mediation process and act as your negotiator. Foreclosure attorneys are expert negotiators. Thus, they can negotiate a favorable mortgage modification to help you avoid foreclosure. Examples of mortgage modifications include: 

• Extending the mortgage repayment period
• Lowering the interest rates 
• Adding the amount you owe to the mortgage so you can start repaying the mortgage afresh 

2. Chapter 13 Bankruptcy 

One of the most common ways to stop or delay foreclosure on your property is filing for chapter 13 bankruptcy. Chapter 13 bankruptcy puts a hold on all creditor demands to allow an individual to devise a plan to repay their dues. 

Hence, if your mortgage lender is unwilling to negotiate a solution, your foreclosure attorney can work with a bankruptcy lawyer to help you file a chapter 13 bankruptcy. Thus, you stop foreclosure and gain a few months to put your financial affairs in order and repay the mortgage lender's dues. 

3. Mortgage Servicing Violations

All states have different laws that govern mortgage servicing. As a result, all mortgage servicers should adhere to the regulations without fail. However, once in a while, mortgage services tend to break or bend the laws. 

So, if your foreclosure is due to a mortgage servicing violation, a foreclosure attorney can help you prevent the foreclosure. For instance, if you get a foreclosure warning after your mortgage servicer fails to make your mortgage modifications permanent, you can use the violation to fight the foreclosure in a court of law. 

Thus, it is advisable to have a foreclosure attorney review your mortgage servicing history to find any violations that might help you fight a foreclosure. 

Consult a foreclosure attorney to learn more.