Do I need a Long Island foreclosure lawyer to handle my foreclosure case? Perhaps, you already asked yourself that question. Many property holders think that hiring an attorney can cost them much money without thinking of what the legal expert can do for them. If you are being threatened of foreclosure, it could be a wise move to keep hold of a skilled foreclosure defense attorney’s counsel immediately.

Long Island Foreclosure LawyerDefaulting on mortgage can have severe effects on your family and finances. If your lender filed a foreclosure lawsuit against you, a Long Island foreclosure lawyer is there to protect your legal rights and help you understand the different options you may take to address your current situation. Once a foreclosure action is served to you from your lender, you only have twenty (20) days to respond to it. Your legal defender will guide you in answering any notice from the court.

Having a foreclosure lawyer on your side can be very helpful in understanding the law in details. The documentations and paperwork that pertains to your case are often comprised of legal jargon lines that seem so foreign to an everyday individual. An experienced foreclosure defense attorney though has spent years plunged in understanding legal language and paperwork.

Additionally, a Long Island foreclosure attorney can assist you in negotiating better loan modification terms. Such changes may include reduction on the amount that you have to pay monthly and extension of the time you need to pay your mortgage. Depending on how skilled your foreclosure attorney is in making negotiations, you can have the chance of saving your home from being foreclosed by ensuring that you followed what has been agreed with between each party.

If you think you can no longer pay your mortgage for whatever hardships you are going through, you may decide to allow foreclosure to happen. A Long Island foreclosure lawyer can direct you through what is called a “strategic default.” This option is usually chosen by those who think that their property value is less than what they owe on mortgage in the current economy. Others opt for a strategic default due to illness, job loss, layoffs or any other hardships that may be affecting their savings.

Is the “strategic default” process legal? Yes, it is, since any mortgage agreement is not considered to be a contractual commitment to the lender to have the debt repaid if you as a borrower no longer own the house. However, you could be entitled to push through a deficiency judgment that will necessitate you to pay for the resulting debt balance once your home is foreclosed or sold.

If your lender is harassing you, let a Long Island foreclosure lawyer fight for you. An attorney who specializes in foreclosure law can offer you plausible alternatives that could help you better deal with the tension of making payments to your mortgage. Through legal assistance, your defender can explain the consequences and benefits of defaulting on mortgage. He can also suggest a different option like seeing if you may qualify to make a short sale.

Many property holders who are faced with foreclosure are opting to make a short sale in order to get away from their mortgage debt. An experienced foreclosure attorney in Long Island can convince your lender to accept such propositions. Whatever debt relief you may opt for, an attorney’s knowledge of foreclosure law and process will definitely help you achieve your goals.

The aggressive representation of a Long Island foreclosure lawyer and his proficiency in foreclosure law can make certain that your case will receive the best possible success chances against your lender in or out the court.