We often see people get kicked out of their homes in the movies,unfortunately this doesn’t just happen in the movies. Home foreclosure is one of the greatest fears of families due to debt. Even though this is true we often take our bills for granted in favor of our credit cards. Before we know it bills have easily stacked up and we end up not knowing who to pay first to stop the calls.

Even though your house is being foreclosed there are still legal procedures to follow. Your lender can’t just kick you out of the house. There are laws that protect homeowners from these situations. Here are some of the important facts you need to know when facing a foreclosure.

I have missed a few months on my mortgage…can they just toss me out?

Simply put: No. The mortgage lender/bank can only kick you out of the house with a court order. Before they can do that they also have to follow a set of legal procedures.

How long does the foreclosure take before they take my house?

That will depend on how your mortgage lender pursues the case. The usual time is 6 months but that may also vary from state to state.

After the foreclosure process do I have to get out of the house?

No you don’t have to. After the foreclosure auction ends the ownership will be transferred from you to the highest bidder. You will become a tenant of the house. The new owner must also follow legal procedures before he or she can evict you out of the house.

In some cases you can become just a “renter” to the new owner. (this is dependent on the new owner of course)

What happens when I get evicted?

The new owner of the house will send you a notice to leave the premises. (The notice usually gives you 72 hours.) If you fail to follow the notice the new owner must present his case to the court before a judge to get an order for you to be evicted. The judge will be the one to decide if you should be evicted or grant you more time. If you fail to follow the court order the new owner may procure an execution of the eviction order. this is when the sheriff shows up and escorts you from the property.

The sheriff will give you a notice of the execution and give you 48 hours to pack and leave. If you fail to follow the notice this is the time when the sheriff can physically move you out of the premises.

Many people are in serious debt and with the economy being in such bad shape, they are in big financial trouble. So many people have either lost their job or are in fear of losing it that there is a lot of worried people out there. Additionally, house values have dropped significantly and credit card rates have gone up. America, as well as many other countries in the world, are in the midst of one of the most difficult times they have ever seen.

This shows first hand why it is important to not live above your means. You should always save money out of every paycheck and never buy something you can’t afford. Unfortunately, few people do that and now we are seeing the trouble it can bring. Our society is built on credit cards and buying everything on credit which is very dangerous.

People voted for President Obama because they wanted him to make a lot of changes. Unfortunately the only change he has done so far is to put our country deeper in debt. He has thrown a lot of money at a lot of things and his strategy seems to be that you have to spend more to make things better. This is unlikely to work as it has never worked before in the history of this country.

The government cant give money to everyone that wants it and so some are going to be upset. For instance, because of the mortgage bailout some families have qualified for lower mortgage rates designed to keep these people in their houses. However, other families did not qualify for these better rates and they are now upset. There is just not enough money to go around to make everyone happy.

The stimulus package that was passed and is distributing money to many sectors is really our tax money. To pay for all of this our taxes will be raised and future generations will undoubtedly have to pay as well. The government is borrowing money on credit and making the same mistake many people do when they borrow too much. How this will all end is unknown but it appears that there will be some dark days ahead.

From not paying a single dime in attorney fees to getting complimentary legal counsel, there are a lot of perks that consumers can obtain in this day and age. While it’s likely only to be available in cities rather than rural areas, consumers everywhere should look for several special services attorneys are now offering.

Losing a court case is usually a depressing moment; but not having to pay the lawyer anything in the event a client loses helps brighten up the situation. Lawyers are now switching over to a “no win no fee” motto that doesn’t require a client to pay anything upfront, and the client won’t have to pay anything unless they win the court case. In the event they win, special payment terms will be agreed upon.

It seems that attorneys shouldn’t have the bad reputation that they usually do- as another service allows clients to keep up to all of their money in the event that bills are still present after the court case is won. This is most common in injury claims, where sometimes the amount won doesn’t cover all of the medical expenses. If that’s the case, the attorney will agree to allow the client to keep the money to go towards bills.

A new type of service is targeting businesses and debt recovery services, with the world economy in an extra complicated credit fiasco. Attorneys are now shifting their target clients to businesses, by offering debt recovery services that get to the bottom of problems businesses have in collecting debt from debtors. Of course, this is a possibility for the average consumer as well, depending on the situation.

Picking up a mobile phone and texting an attorney may sound a little unprofessional considering most situations, but attorneys are now setting up special networks that allow customers to do just this and expect a call back within a set amount of time. Also to consider is the Internet, which allows for special support rooms, email, and contact forms as methods of getting in touch as well.

Perhaps best of all, nearly all attorneys are able to allow for free legal advice over the phone or with an office visit. This isn’t the case for all attorneys, but the average consumer will likely be able to enjoy this benefit. Indeed, it should almost be expected unless the attorney in question only caters to high-label clients. It’s just another incentive to give an attorney a call when in trouble!

In Conclusion

Attorneys are quickly shaping their services to evolve into what consumers demand. In order to compete with other law services, law firms are now working hard and going the distance to see that every consumer is taken care of. Take this to your advantage, and pick an attorney based on what they can do for you.