If you are behind on your mortgage, the lender will eventually take steps to foreclose on your property. In the Foreclose Process in Kilgore TX, the lender legally repossesses the home, and removes the owner from the premises. A foreclosure lawyer can look at your mortgage and tell you whether the lender has a case, and he or she can represent you in court while working with your lender to avoid foreclosure.
The Basics of the Foreclosure Process
To decide whether you need a lawyer’s help, you should first learn about the Foreclose Process in Kilgore TX, which takes these steps:
* The mortgage lender asks the homeowner why payments aren’t being made.
* The homeowner receives a default notice, which demands payment.
* The lender files a complaint with the local court.
* The homeowner gets a copy of the complaint, with a deadline to reply.
* The mortgage lender’s attorney files a default motion.
* If the motion is granted, a sale order is given to the local sheriff.
* The home is appraised, sold and the new owner gets a new deed.
* The new owner can legally evict the previous owner.
* The homeowner gets a deficiency judgment if the home was sold for less than its value.
Dealing with Mortgage Lenders
When you buy a home, you’ll likely need a mortgage, which is a loan where the lender gets the home if you default on your payments. The stakes are high, and you should not sign a mortgage agreement without asking an attorney to look it over. The lawyer cannot decide for you, but they can help you decide in an informed manner. Getting legal advice is the simplest way to avoid the Foreclose Process in Kilgore TX; a lawyer’s fees may seem expensive, but they may be worthwhile if they can keep you in your home.
Asking for Legal Advice
A foreclosure or real estate attorney can help you throughout the Foreclose Process in Kilgore TX. A lawyer will protect your rights in court, and he or she can also work with mortgage lenders to find foreclosure alternatives that can help you remain in your home.
