Need a foreclosure lawyer Norman OK? Marty Martin Bankruptcy Law may be able to assist! We serve Oklahomans who are facing foreclosure. If you are looking to fight a foreclosure, stay in your house, seek foreclosure alternatives, apply for a loan modification, or file for bankruptcy, we recommend you talk with a foreclosure lawyer as soon as possible. Contact us at 405-645-6600 for a free initial consultation.
What should I know about foreclosures?
Foreclosures are either judicial or nonjudicial. This means that they either go to court or do not. Judicial foreclosures occur frequently in Oklahoma, and deficiency judgement is allowed in the state, which means your remaining mortgage amount may be a significant factor when deciding whether or not to foreclose. Oklahoma law provides a redemption period during which you can redeem your foreclosed property—as long as it occurs prior to the court finalizing the sale.
If you served or are serving in the military, or if you believe the lender has sent you a notice of default incorrectly, you will want to explore your options before you accept any inevitability of foreclosing. Foreclosure lawyers can help you discover these options, and they can aid you during your foreclosing experience should you choose to go that route. By representing you in court, negotiating loans, and advising you with up-to-date regulations, a legal counsellor has the potential to make your life a lot easier as you navigate the impactful decision of foreclosing. Do not wait to find a foreclosure lawyer in Norman, OK, that can provide you with these services; your future self will thank the current you for being proactive today.
“But I’ve put so much into this house…”
When dealing with any investment (but especially large ones such as a house), it is important to recognize the good ones from the bad ones. People will sometimes voluntarily foreclose because they realize their house has become a poor investment and that it is not worth trying to pay off the mortgage. Trends in the real estate market may impact the value of your mortgage regardless of whether or not it was a good investment decision initially. Renting can sometimes prove to be more affordable than holding onto a mortgage, so it is often beneficial to run calculations comparing those two options. Although there are many reasons why it might be better to avoid foreclosing, do not do so exclusively because of the sunk-cost fallacy. Contact Marty Martin Bankruptcy Law to receive more insight into these considerations and how they relate to your specific situation.
Because housing is such a critical component to most individual’s financial well-being, it is worth investing in services that enable you to receive the most out of your housing situation: Utilizing foreclosure lawyers’ experience not only has the potential to save you a lot of time and stress, but it also has the potential to save you money. Yes, hiring a lawyer can be expensive, but mismanaging a large investment such as your house can result in avoidable costs that have long-term consequences. To prepare yourself for a possible foreclosure, contact Marty Martin Bankruptcy Law at 405-645-6600 for a free consultation that can help you find a good foreclosure lawyer in Norman, OK.