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Sunday 15 April 2012

Dallas Attorney Helps With The Foreclosure Process

By Arthur Albao


If your bank is going to foreclose on your property, you should get a Dallas attorney immediately. Having a lawyer by your side can make this process easier on you and your family members. A legal representative can even help you avoid getting your home foreclosed or even delay the process to give you time to pay for your mortgage.

Going through this ordeal can be a complicated matter on a legal standpoint and on an emotional level. Having professional legal counsel by your side can make things easier for you. The experienced lawyer can negotiate a speedy resolution and come up with a settlement that is acceptable to you and your lender.

Your lawyer can negotiate for refinancing that would allow you to keep your property. The legal representative can also review your finances and help you decide if you should fight for your property or just give it up for foreclosure. He can handle foreclosure procedures in case you need to let go of your home.

Your legal counsel can protect your rights in case of a court case. Your lawyer can fight a foreclosure by filing for bankruptcy or other frivolous suits to delay the process of foreclosing your property. You can also decide to let your lender have your house with your legal representative handling all the paperwork.

Many people get their properties foreclosed because of unforeseen decline in real estate values. Your homes value could go lower that what you owe for the mortgage. Your attorney can also help you avoid further financial problems stemming from a strategic default and losing more money than you already have.

In some cases, a lender can still sue you to regain money owed from the balance after your home is auctioned off. A judge can side with your lender. A Dallas attorney can make a written agreement that asks your lender not to pursue further financial claims against you after the foreclosure.




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