A foreclosure lawyer is a lawyer who focuses on dealing with foreclosure cases. Foreclosure attorneys may work for banks and other financial institutions that are required to process foreclosures. They can also represent clients who are contesting a foreclosure or attempting to negotiate on the other side of the process. Foreclosure lawyers are paid differently depending on where they work and how many years of experience they have.
To practice law, a foreclosure lawyer, like other legal professionals, must complete law school and pass the bar exam. Elective courses provide a grounding in the areas of law that pertain to foreclosure in the lawyer’s later years of law school. After becoming licensed to practice, a lawyer can work for law firms or legal departments of financial institutions, or practice on their own.
Foreclosure attorneys who work for financial institutions help with the foreclosure process. They establish the procedure for foreclosing on property in order to ensure that the process is carried out legally. This includes drafting letters to customers as well as preparing legal documents related to the foreclosure. The foreclosure lawyer will be involved if the client chooses to contest the foreclosure, even if the case goes to court.
Individual lawyers help people who are facing foreclosure or are already in the process of doing so. The foreclosure lawyer verifies that the financial institution is following the law at all times during the process and can help clients fight the foreclosure. People may have been defrauded about the nature of the loan, in which case a foreclosure attorney can assist in the preparation of a case and the prevention of foreclosure while the case is pending.
In these situations, the foreclosure lawyer acts as a customer advocate. Any negotiations or discussions with the lender will be handled by the lawyer, who will also respond to paperwork and file claims against the lender. This may entail assisting people in obtaining a loan modification or other concession that will allow them to remain in their homes.
When people are facing foreclosure or believe they may need to negotiate a short sale, they should contact a foreclosure attorney as soon as possible. Finding a foreclosure attorney can be difficult, as some unscrupulous lawyers prey on people who are financially vulnerable. Lawyer reviews, bar associations, and professional organizations of foreclosure lawyers can all help people find fully qualified, well-respected lawyers with whom to work.