3 Reasons To Hire a Foreclosure Lawyer
If bills have been stacking up lately, you are definitely not alone. Between 2020 and 2021, many Americans faced significant financial losses, with home mortgages right in the mix. When things get serious enough to receive threats of foreclosure, then you may wonder if you need a lawyer.
When you first start considering foreclosure lawyers in Maryland, you may have a lot of questions. Typically, the biggest question is if hiring professional legal help is even necessary. Although it is not always necessary, it can be helpful. Here are three reasons why a foreclosure lawyer may help.
- You Have Limited Legal Options but You Want To Keep Your Home
Losing your home is serious. After all, it is the place where you most belong. When bills stack up against you on top of the law, the thought of foreclosure can be terrifying. This is definitely a time when reaching out to an attorney is a smart idea. Even if you cannot afford a lawyer, a free consultation may help give you some direction.
- Your Mortgage Is a Government-Backed Loan
Depending on your situation, you may qualify for additional funding if your mortgage is through a government-backed loan. In particular, loans backed by the Federal Housing Administration (FHA) often come with other foreclosure assistance options. If this scenario applies to you, hiring an attorney can be helpful when compiling and submitting the necessary documentation to the government.
- You Are a Veteran
If you have ever served in the United States military, you may also be eligible for foreclosure assistance through your veteran status. In 2003, the U.S. government passed the Servicemembers Civil Relief Act. In a nutshell, the law covers numerous living security issues such as rental agreements, mortgage foreclosures, evictions, security deposits and more. Working with a foreclosure attorney can make it easier to understand this law and how it impacts you.
Although a foreclosure lawyer is not always necessary when it comes to saving your home, working with one can make life significantly easier. In addition, it can reduce some of the stress.
