Mortgage Foreclosure: What it Means and How an Attorney Can Help

mortgage foreclosureMost people who buy homes do so through the use of a mortgage. What happens, though, if you can’t keep up with the payments? While lenders may be willing to work with you to a point, many will want to recoup their investment in some way. This is commonly done through the process of mortgage foreclosure.

To understand the process of mortgage foreclosure, you first must understand what a mortgage actually means. Plainly speaking, a mortgage is not just a promise to pay for a property – it’s a form of security that allows a borrower the use and ownership of a property while making payments, and it’s backed up by the value of the property itself. If the individual who took out the loan defaults on his or her payments or otherwise violates the terms of the mortgage, the lienholder can then move forward with a mortgage foreclosure to retake the property as a way of satisfying the remaining debt.

If you are faced with a mortgage foreclosure, it’s vital that you work with a Pierce County WA consumer protection lawyer like Boris Davidovskiy. A good attorney will not just represent you when the mortgage foreclosure proceedings move forward – he or she can also help you to work with the entity that holds the mortgage to help find a solution that will keep you in your home and avoid the foreclosure. While there are no guarantees, your own real chance to make it through this process and keep your home are much better by working with a Pierce County WA foreclosure defense lawyer like Boris Davidovskiy.

Mortgage foreclosure is something that should be taken very seriously. It’s also something that you probably should not fight alone. If you find yourself dealing with the process of foreclosure, make sure to contact The Law Office of Boris Davidovskiy, P.C. to get the help that you need.