If you’re in financial trouble, losing your home is a worst-case scenario, a heartbreaking experience that can leave you feeling overwhelmed and powerless. You may attempt to renegotiate your loan or work out another option with your lender only to find them insistent that you keep your current loan or face foreclosure. In these instances, an experienced foreclosure defense lawyer presents the best opportunity to achieve a positive outcome.

According to The Law Office of W. Randall Holcomb, a bankruptcy and consumer rights attorney in High Point, NC, state and federal law may require lenders to seriously consider your application to modify your loan. However, many fail to do so on the assumption that most homeowners either don't know how to enforce their rights or aren't even aware they have any. It is important to remember, when facing foreclosure, if you do nothing, you have lost the fight. An attorney skilled in foreclosure defense will have the in-depth knowledge of the system that can compel your lender to renegotiate your mortgage, potentially allowing you to stay in your home. In some instances, even when keeping your home is not possible, an attorney may be able to assist you in obtaining other more favorable outcomes that can drastically limit the impact a foreclosure on your financial condition.

If the bank refuses to work with, your attorney can help you, depending on the circumstances of your case, you could be eligible to file for Chapter 13 bankruptcy, which may allow you to bring your account current over a period of three to five years. Alternatively, if your lender has violated state or federal law, for instance, when a lender engages in unfair lending practices, a licensed attorney could file a lawsuit arguing among other things, that the lender violated their contract or failed to live up to their legal obligations, depending on the facts of your case.

Your legal options in a foreclosure depend a great deal on the quality of your lawyer and how quickly you hire representation. They have access to knowledge and resources to help them achieve results you likely couldn't on your own. Visit The Law Office of W. Randall Holcomb online to learn more about his practice, or call (336) 888-8760 to discuss your foreclosure defense options.