No lender wants to have to foreclose on one of their borrowers, but it can be unavoidable. When it comes to foreclosing on a borrower, it is always a good idea for a lender to use a real estate attorney in Staten Island New York from start to finish so that they can be sure of the best possible outcome. While many lenders already may be losing quite a bit of money having to foreclose, using a real estate attorney in Staten Island New York can help a lender be sure they follow all of the proper procedure, eventually leading to a better result.
How an Attorney Can Help
In any foreclosure, there are specific rules that have to be followed by the lender for the foreclosure to be deemed proper. If these rules are overlooked, even accidentally, there can be devastating consequences for the lender, including their case being thrown out. While a lender may want to try to handle a claim on their own in the beginning in order to save money, the ultimate risk of losing a foreclosure case could end up costing thousands, adding even more to the expenses related to the foreclosure.
When hiring a real estate attorney in Staten Island, New York, a lender can be sure that legal counsel will properly handle every step of the foreclosure, from initial notices to auction, so that the case against the borrower is strong and more likely to be handled properly from the very beginning. Having legal counsel makes sure a lender can get the best result in their case, resulting a quicker foreclosure because there is much less of a risk of a technicality keeping there from being a positive result for the lender.