Families work very hard to get into a position to purchase a house and be called a homeowner. However, sometimes homeowners fall onto hard times and are unable to keep up with the payments even after entering into a contract known as a mortgage. Falling behind on their mortgage contract for three months can result in the bank filing to foreclosure on the property. There are foreclosure defense attorneys that offer services to combat the process on behalf of the homeowner. We're going to look at why there is no such thing as foreclosure defense.

The foreclosure process is straightforward and boils down to a few different stages. Once the homeowner has stopped making payments to the bank for three consecutive months, the bank is legally allowed to file for foreclosure notice against the people they've entered into a contract with regarding the home. The steps are as follows:

Lis pendens – The bank will issue a notice of lawsuit Through their attorney and the clerk of courts to issue a foreclosure lawsuit against the homeowner.
Summons – the court will issue a mandate where a representative of the bank and homeowner must attend. The homeowner will have 20 days to respond to the summons. They are required to explain to the court what they intend to do to avoid foreclosure.
The final judgment – This will indicate which day the final sale or auction will take place through the courts.

Once the court has set a final judgment, and there is an auction date set, there is the opportunity to file postponements. A homeowner should not have to hire an attorney with expensive retainers but instead, work with an investment team that has access to attorneys that can file postponements for very little money.

Some attorneys offer foreclosure defense and will attempt to build a case against the bank. Unless the bank has done something legally wrong there really isn't a case to be made against them because they're following legal procedure. Attempting to combat a proper legal process with a foreclosure defense case can result in wasting a lot of valuable time hurting the homeowner in the end. Not to mention having to pay for all the legal fees that will mount as a result of pursuing that course of action.

A more predictable and productive option would be to have the homeowner go through with a short sale to get out from under the debt. If a homeowner attempts to battle foreclosure and they lose they will have repercussions on their credit and the ability to move forward. A foreclosure on their record will ultimately result in losing the home and making it very difficult to obtain lending in the future.

A homeowner could easily work with an investor and order a payoff with the bank allowing them to sell their home within 30 days using a short sale. If the house is underwater, it still won't make sense to try and keep the home. There are many options to work and pursue however there are only a couple that makes sense.

In conclusion, a homeowner did enter into a legal contract with the bank regarding lending for their mortgage. If the homeowner misses three consecutive months, a bank has legal rights to file for foreclosure. Defense attorneys try to offer services attempting to combat the legal process. However, it usually results in wasting a lot of time and money. A homeowner has the option to order a payoff and follow through with a short sale relieving them of the consequences involved in foreclosure.

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