There are as many attorneys as there are branches of the law. Corporate attorneys, family law attorneys, and divorce attorneys are some of the most common kinds of lawyers that practice their profession on a daily basis throughout the world.
Another kind of lawyer that is often kept busy is a Long Island foreclosure lawyer. The economic crisis of the past decade has clearly taken a toll on a population that was mortgaged to the hilt and as a result, many of those faced with losing their home have been consulting with a Long Island foreclosure lawyer or two to keep the roofs over their heads.
But what exactly does a Long Island foreclosure lawyer do and what sort of responsibilities are part and parcel of his or her role in foreclosure cases?
On the whole, a Long Island foreclosure lawyer should help steer you towards a more palatable alternative to foreclosure. They can bring this about either by working with a housing counselor or with your debt servicer (or both). Specifically, you can expect the following services from your foreclosure lawyer:
- The provision of a reasonably sound defense during a foreclosure case.
- A meticulous analysis of the terms and conditions prevailing over your mortgage and on the other documents that apply to the case, such as the purchase agreement.
- A thorough examination of the circumstances behind your failure to settle the mortgage payments on time. This helps your lawyer to point out any factors (e.g., loss of income or employment or a disease) behind the default that could mitigate the court’s judgment on your case.
- An open dialogue with your lender or debt servicer with the aim to either mitigate the case against you or to come up with a settlement that will serve as an alternative to an outright foreclosure.
- An informed discussion of all possible defenses against the foreclosure complaint as well as an analysis of the possibilities for a counterclaim.
- A thorough comprehension of the state of your personal finances, interests, and objectives, along with an accurate knowledge pertaining to your side of the story.
- Assistance with determining options against foreclosure that would work in your favor.
- An enthusiastic defense of your honor and interests in any and all court proceedings that take place during the foreclosure process.
- An honest and detailed assessment of your condition and on the chances of achieving your aims in the foreclosure process.
- Detailed consultations regarding possible outcomes of the foreclosure proceedings in court and the corresponding reactive measures that the former might entail.
It should also be noted that time is an important element in foreclosure proceedings. The earlier your foreclosure lawyer gets involved with the process, the higher your chances are of keeping your home or at least fending off the more unpleasant stages of foreclosure.
Also, while there are cases wherein you may not require the services of a foreclosure lawyer, such as where you can get free aid or assistance from a housing counselor, most defenses against foreclosure are made stronger with the presence of a foreclosure lawyer.
The range of a foreclosure lawyer’s fees is generally from USD500 to USD3,000, depending on how much time the lawyer spends attending to your legal needs in and out of the court. However, there are states that mandate a lender to pay off the foreclosure lawyer’s fees if the latter is successful in getting the court to rule in your favor.
There are also some legal aid societies that help those who are financially strapped to avail of a foreclosure lawyer’s services nonetheless and many local state or bar associations have listings of lawyers who are also offering pro bono services.