A foreclosure attorney in Topeka is one who helps a homeowner who is going through a foreclosure process, foreclosure attorneys also work for banks. Foreclosure is the term used in the US for a judgment that has been handed down which grants the bank the right to repossess a home that they hold a mortgage on and the mortgage payments are not being made as agreed. Foreclosure attorneys are those who represent the parties that are involved in the action.
Foreclosure law differs from one state the next however there are a few generalities that apply to every case. It all begins when the homeowner begins to be late or negligent in making the mortgage payments. In most cases the banks do not wait long before they begin calling the party in an effort to collect the late payments but rarely does the bank commence with foreclosure proceedings until the homeowner falls several months behind on his or her payments.
Of course the homeowner attempts to delay the process in a number of ways; one common delaying tactic is to demand to see the original promissory note. This may sound like a simple request but mortgages are often transferred from lender to lender and it gets to a point where the bank has a hard time finding out who actually holds the note. A foreclosure attorney in Topeka, KS can help the homeowner prepare this request as well as helping the delinquent homeowner to come up with other ways to delay the action.
Delaying tactics can be quite helpful for those homeowners who are going through temporary financial difficulties, setbacks or struggles. The attorney can find ways of contesting every step in the process, attempting to buy his client more time to come up with the overdue amount. The attorney can also attempt to negotiate with the lender a short sale. Although this tactic also impacts the credit score of the homeowner it is less of an impact than suffering a foreclosure.
Once the homeowner is several months behind on the payments the bank will file a notice of default with the court. The foreclosure attorney in Topeka, KS who represents the bank is responsible for this action. The court sends the borrower a notice of default, this notice normally stipulates what must be done to become current on the loan and stop foreclosure proceedings. At this stage the borrower can either make the loan current or the foreclosure attorney can try to make an arrangement with the lender but by this time it is often too late to refinance but the attorney can work with the client, exploring other possible options to delay the foreclosure.
If you are faced with foreclosure then you will want to hire a foreclosure attorney in Topeka, KS to help you explore options and alternatives that will benefit you including a short sale. You are invited to contact Joseph I. Wittman, Attorney at Law.
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