~ Business Consumer Alliance urges those in need of foreclosure relief to explore the variety of options to save your home. Some tips to help you obtain foreclosure relief include contacting and directly communicating with your lender. If you are behind on your mortgage payment(s) or know you are having trouble with paying your mortgage the lender may be able to help you with a new repayment schedule. Mortgage servicing rules require certain servicers to provide the borrower with all foreclosure relief options available to them and assistance with submitting loss mitigation applications.
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~ If you choose to take legal action against the lender you should:
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~ · Obtain information about the lawyer(s) that will represent you and check that they are currently licensed in your state and their area of expertise in real estate law. Also check to see if any disciplinary actions have been filed. Obtain a reliability report from BCA.
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~ · Get specific information regarding the process and what exactly the attorney(s) will do for you including cost and payment schedule. Have the information put into writing.
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~ · Ask to speak with the attorney directly to discuss your case and the services. Inquire into how many mortgage related cases the attorney has handled through trial or settlement and ask for proof.
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~ · Be leery of attorneys who make promises and guarantees as to the outcome of your case.
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~ · Maintain communication with your attorney throughout the case and keep good records of conversations documents and other correspondences.
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~ · Ask friends relatives and other trustworthy individuals for references of attorneys who have successfully handles foreclosure and mortgage related issues.
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~ · Never pay advanced fees for loan modification services.