6 Key Questions to Ask Before You Hire a Foreclosure Attorney
In the wake of the 2008 financial crash, countless individuals faced unemployment, businesses collapsed, personal savings dwindled, and American home values plummeted. This crisis led to a wave of foreclosures affecting millions of homeowners. Yet, the narrative surrounding the crisis has been shaped by powerful entities, positioning naive homeowners as scapegoats for the global credit meltdown. While some purchased homes beyond their means, the true culprits were misleading mortgage lenders driven by unscrupulous broker commissions. Banks aggressively bundled, securitized, and sold mortgages, leading to questionable lending practices. The harsh reality is that many mortgage-backed securities lacked actual mortgages behind them. This scandal forced taxpayers to bail out banks, a stark contrast to Iceland, which allowed its banks to fail and prosecuted financial offenders.
Why American Banks Evade Accountability
In the U.S., banks grew 38% larger post-crash, supported by the toothless Dodd-Frank legislation that failed to prevent another economic downturn. The phrase Too Big to Fail became synonymous with a system that continued benefiting those who contributed to the crisis. Americans still witness banks receiving significant taxpayer-funded support, with few within the financial industry being held accountable for their actions. Instead, blame is conveniently placed on homeowners who lost their properties.
Finding the Right Foreclosure Attorney
For those facing foreclosure, navigating the legal system can be daunting. Many believe a foreclosure attorney is essential to counteract bank fraud and protect their homes. Although a few attorneys specialize in foreclosure law, not all are committed to fighting intensely for homeowners. Selecting the right lawyer requires careful consideration and asking pointed questions.
Essential Questions to Ask a Foreclosure Attorney
Justin James, founder of The Foreclosure Relief Network, emphasizes the importance of thoroughly vetting a foreclosure attorney. Before hiring one, homeowners should ask the following six crucial questions:
1. Do you believe banks and their servicers engage in mortgage protection and/or foreclosure fraud?
2. If a bank presents a document claiming it’s the original note, do you think there’s still a chance of winning in court?
3. Are you willing to challenge the bank’s claim of ownership on the note, mortgage, and chain of title?
4. Are you prepared to cross-examine witnesses effectively?
5. Will you contest and call a robo-signer as a witness?
6. Are you ready to confront major banks or a court that favors them?
Answers to these questions provide insight into an attorney’s commitment to defending a homeowner’s rights. Receiving even one no might indicate it’s time to look elsewhere.
When to Walk Away
If an attorney hesitates to break down your chain of title or question the bank’s authority, reconsider your choice. You deserve a lawyer willing to represent your interests vigorously. The wrong attorney could deplete your finances without delivering results. Like purchasing a car or hiring a contractor, it’s essential to ensure you’re getting value for your investment.
Considering Alternatives
While many believe it’s impossible to defend oneself against foreclosure without an attorney, numerous homeowners have succeeded with the right education and resources. Organizations like The Foreclosure Relief Network provide tools and support, enabling homeowners to represent themselves effectively in court (known as Pro Se). With a solid strategy, many individuals have successfully negotiated settlements.
Trust Your Instincts
Ultimately, no one will fight harder for your home than you. If an attorney doesn’t feel like the right fit, trust your gut and explore other options. Conduct thorough research and understand that viable alternatives exist. Whether you choose to work with an attorney or represent yourself, ensure your decisions are informed and strategic. This proactive approach can protect your home and preserve your financial stability.