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Guide to Finding Mortgage Lawyer

Guide to Finding Mortgage Lawyer

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Guide to Finding Mortgage Lawyer
How do I find a Mortgage Lawyer?

       Mortgage lawyers primarily work with helping people who are having legal issues involving their mortgage payments and may face trouble with the lending bank.  Experienced mortgage lawyers can provide help with their clients in the following ways:

- By helping to delay the foreclosure process or help a homeowner keep their home by fighting foreclosure proceedings. 

- By working with mortgage companies and trying to negotiate better terms for a homeowner to avoid default or foreclosure, possibly by seeking a mortgage modification. 

- Advising clients on government programs, financial aid, or any other available sources of help that may be beneficial to the homeowner. 

       While a mortgage lawyer will work with the goal of keeping you and your family in your home for as long as possible, they can only accomplish this if you act quickly in seeking legal help.  
What to tell your attorney

       The best starting point for what to tell your mortgage lawyer is your entire financial situation along with all mortgage information that you have available.  Your lawyer will need to know you monthly payments, how much equity is in your home, and if you are behind on payments.  Any foreclosure warnings or actions should be reported to your lawyer immediately. 

       You should also inform your lawyer of what you want to accomplish with their legal help, as well as any concessions you are willing to make in order to settle the matter.  Be detailed and truthful in what you tell your lawyer, even if you are embarrassed or feel it will hurt your case.  
Where to look for an attorney

       Mortgage lawyers often advertise their services and can be found in most areas.  Local listings and advertisements can be helpful, however they do not provide enough information that you can rely on to assure yourself that you are hiring a competent and experienced lawyer.  Conduct your own research into their background and experience in order to ensure that you are hiring a competent and trustworthy lawyer. 

       The internet can provide valuable information and this website has a search function at the top of the page.  This search function will lead you to qualified lawyers in your area, which you can compare and gain information.  
Do I need a specialist?

       The mortgage crisis has created the need for many mortgage lawyer specialists.  Foreclosures and mortgage modifications have gone from a rare event to a common occurrence in the matter of a few years.  You should seek the help of an experienced mortgage lawyer in your area, as they will know how to best approach your legal circumstances and will be able to best represent you.  
Preparing for an appointment

       It is essential that you come prepared to speak about your situation with your lawyer.  Have all available information ready and double check any details that you will discuss.  Review dates, names, and amounts to ensure that you are giving your lawyer an accurate depiction of your case.  Bring supporting documents, such as mortgage documents, payments, bills, and any correspondence with the bank or lender.  

       The preparation of questions prior to meeting with your lawyer will help both you and your lawyer understand your case and work efficiently.  The more information you know the better you will feel during times of crisis, so ask about anything in which you are unsure of.  
Evaluating Experience & Education

       All lawyers must graduate from an accredited law school and pass the bar exam in their state of practice.  These are the basics requirements in order to represent you, but you should also look at the experience and specialties that your lawyer may have.  Your mortgage lawyer should have previous experience working with foreclosures, mortgage modifications, and any other area of real property law.  You should evaluate your lawyer's experience to ensure you will be comfortable with their representation and to protect your property and legal rights.  

       It is unwise to rely only on advertisements when choosing your lawyer.  Make sure to find unbiased sources of information to assure yourself that you are selecting a qualified lawyer.  
Personality & Values

       Quality mortgage lawyers will have the skills and abilities to negotiate with lenders to try to avoid foreclosure and keep you in your home.  They will need to know how to get this done, and these skills are typically developed only by experience.  Because of the changing rules and types of government aid, your mortgage lawyer should be up to date with all current rules and regulations that can affect your case.  

       Just as equally important is that your lawyer's personality is one that you can deal with on a regular basis.  You may have a legal relationship with this person for months or even years, so ensure that your personalities mix.  If you do not feel the lawyer is trustworthy or behaves in an unethical manner, do not be afraid to approach your lawyer and seek new representation.  
Rates, Fees & Retainers

       Usually, a mortgage lawyer will require a flat fee for their services or an up front retainer if they will bill you hourly.  Try to avoid hourly billing, as the costs can often balloon to the point that their legal help may not be helpful.  Try to find a lawyer that is offering reasonable flat fees for their services.  If the cost of their services seems like they will not benefit you financially, you can try to negotiate the rates down to a more reasonable level under your circumstances.  

       Ensure that you understand the fees and rates that will be charged.  Do not accept any agreements that you do not understand or that are not in writing.  
Interviewing your attorney

       Consider the following when speaking with your lawyer:

- How will the fees be calculated, what are the rates, are there any other expenses I should expect to pay, and how long will this process take?  

- Ask about your chances of success.  It may be important to plan for the worst and hope for the best, just in case your legal issue cannot be resolved.  

       Make sure you know how and when you can contact your lawyer.  You will need to be in constant contact with your lawyer, updating him or her with changes in your circumstances, and your lawyer will need to know how to contact you with information about your case.   

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