When a person or family purchases a home, it is one of the happiest times in the life of the person or family, and there are no thoughts that one day the home might be lost. Yet, many people are thrown into foreclosure situations year after year with no hope or knowledge of what to do about it. An attorney that helps clients with issues of home Foreclosure in Rockville MD informs the clients of all they need to know to avoid foreclosure. Here is some of this information for the clients to remember.
Issues Concerning Foreclosures
When a homeowner has defaulted on paying his or her housing loan for at least 45 days, the lender has the option to initiate a foreclosure proceeding against the homeowner. At the time the lender sends a notice of an intent to foreclose, there also should be a form called a loss mitigation application along with a summary of the loan in default. All pieces of information that come from the lender should be addressed immediately because it is important for the homeowner to maintain constant communication with the lender.
More Issues with Foreclosures
After 90 days have passed, the lender can then file an Order to Docket with the courthouse, which will set the process in motion to foreclose on the property. During this process, the homeowner has the opportunity to consult an attorney experienced in foreclosures and pursue whatever alternatives are available. The lender will have to file all that is said to be due by the borrower, including late charges and interest, and any attorney fees that may arise.
Hiring an Attorney to Help
If a person is looking for an attorney to help with a Foreclosure in Rockville MD, there is the Law Office of Laura Margulies & Associates. Clients can get help with bankruptcy issues and the foreclosure process in the Rockville area from the attorney’s office. If there are people or families who are about to lose their home, they can call the law office to get help with the Foreclosure in Rockville MD.
