Texas Mortgage Assistance Lawyer
If you need mortgage assistance, you may want to speak with a mortgage assistance lawyer Texas trusts. An experienced lawyer can help you find the right mortgage assistance plan and give you peace of mind. Falling behind on your mortgage payments can be scary, but it’s still possible to catch up on your finances.
Common Types of Mortgage Assistance
There are many mortgage assistance programs available, including:
- Financial aid. Direct financial aid can provide mortgage assistance through grants, interest free loans or waiving some fees.
- Unemployed homeowners. When you become unemployed for whatever reason, it becomes very difficult to afford your mortgage payments. Luckily, some mortgage companies will let you defer your payments or make partial payments as you look for work. While there will still be interest on your mortgage loan, the program may give you a little time to get back on your feet.
- Loan modification. If you are struggling to keep up with your mortgage payments, you may qualify for loan modification. This type of mortgage assistance can reduce the total amount of your loan, extend the amount of time you have to pay your loan and lower your monthly payments.
- Loan forbearance. If you want to save your home from foreclosure, you may also consider loan forbearance. It temporarily suspends your monthly payments, giving you extra time to get back on your feet. After the forbearance period is over, your lender may give you an affordable payment plan to pay back the missed payments.
- Foreclosure postponement programs. A Texas mortgage assistance lawyer may also be able to help you qualify for a foreclosure postponement program. The program allows lenders and borrowers to work together to establish a realistic plan to help you avoid foreclosure.
Why You May Want to Hire a Mortgage Assistance Lawyer
Although you can apply for mortgage assistance on your own, it may be in your best interest to work with a skilled lawyer. A lawyer can assess your individual situation and determine if mortgage assistance is the right choice for you. He or she can also help you decide what type of mortgage assistance to opt for.
An experienced lawyer can also help you fill out paperwork correctly and submit it on time. These documents can include complex terminology, and you do not want to make errors that get your application rejected.
Additionally, if your initial application got rejected and you may want to file an appeal, a lawyer can assist you with that.
How to Find the Right Mortgage Assistance Lawyer
Working with the right lawyer during this trying time can be a big relief. However, with so many different lawyers out there, it can be tricky to select the right one. Here are some qualities to look for in a mortgage assistance lawyer.
- Specific experience with foreclosure defense
- Knowledgeable about foreclosure laws in Texas
- Excellent negotiation skills
Schedule a meeting a Texas mortgage assistance lawyer in Leinart Law Firm.
Mortgage Assistant Lawyer FAQs
What Mortgage Assistance Service Is Best for a Homeowner to Pursue?
As explored, different types of mortgage assistance solutions exist, but trying to find which one you should use can prove to be a challenge. Trying to decide between loan forbearance or a loan modification isn’t an easy decision. Gaining legal assistance makes the process much easier. An attorney can evaluate your current mortgage needs and determine the solution you should pursue. An attorney can also help you explore programs that you didn’t realize you qualified for. At Leinart Law Firm, we help homeowners, and their families overcome difficult situations.
Is Hiring A Mortgage Assistance Lawyer Really Necessary?
Again, it’s possible to handle your situation yourself without a Texas mortgage assistance lawyer, but it’s also easy to run into common mistakes. Handling your paperwork alone can prove to be tricky for many homeowners. A simple mistake can lead to a denied application, resulting in further delays. The best way to avoid these mistakes is by working with a qualified attorney. Your attorney ensures you fully understand the situation and prevent any paperwork mistakes. An attorney can also help you navigate the process of applying for an appeal should your application become rejected.
What Kind of Fund Programs Are Available?
In Texas, different fund programs are available to help homeowners pay their mortgages. A Texas mortgage assistance lawyer can help you find the proper program, but a recently launched program is the Texas Homeowners Assistance Fund Program. This program was launched due to COVID-19 and the pandemic and can help with expenses, such as:
- Insurance payments
- Property taxes
- HOA (Homeowner’s Association) fees
- Condo fees
The Texas Department of Housing and Community Affairs handles this program and qualified homeowners can apply for up to $65,000 to help manage past-due mortgage bills. $25,000 can also be used for expenses like property insurance and HOA fees.
How Can Someone Be Eligible For This Program?
To be eligible for this program, homeowners must be currently behind on payments. They also need a household income that’s either at or below the country’s or their area’s median income. This household income can depend on your family’s size alongside your current location.
Residents also need to live in Texas and can prove they experienced hardships since January 21, 2020, specifically due to COVID-19 and the pandemic. Proof can come in the form of bills, evidence of your residency, and evidence of your household income. Participating in other programs shouldn’t disqualify your eligibility either.
Will I Have to Go to Court?
When working with an attorney, most people start picturing having to sit in a courtroom for hours wearing a suit and tie. When you fail to pay your mortgage, your loan servicing company or bank can start the lawsuit process, also called possession action. This process can eventually result in a person losing their home. It’s possible that the bank or loan servicing company can take you to court. However, the chances of this often reduce by a wide margin when you work with an attorney. Working with an attorney who negotiates and tries to come to a compromise with your bank or loan servicing company showcases your willingness to cooperate. For needing a Texas mortgage assistance lawyer, Leinart Law Firm is here to assist.