Owning a home is a dream of a great many people all throughout the United States. After all, home owner ship is the last bastion of adulthood to cross and, for many people, is a definitive marker of success. Owning a home presents a freedom that a great many people simply have not experienced before, a freedom that is hugely important to them – especially when it comes after year, even decades, perhaps, of renting. For many people, the ability to own a piece of land and do with it what they please is hugely appealing indeed, to say the very least.
However, owning a home comes with a great deal of responsibility, and it is hugely important that these responsibilities are not overlooked or glossed over. When this is the case, home ownership can end in disaster – often in foreclosure and ultimately in the loss of the home itself. Therefore, avoiding such issues is hugely important indeed, to say the very least. After all, foreclosure is certainly quite a great deal more common than most people realize – until, of course, it is happening to them, that is. But the fact of the matter is, the data shows foreclosure to be quite widely prevalent, with up to 250,000 new households and families unfortunately needing to enter into foreclosure over every three month span of time, at least according to research that was conducted by the Federal Deposit Insurance.
These foreclosures are often occurring through lenders, if not all of the time occurring through such channels. In fact, it was estimated that the year of 2018 alone saw more than 230,000 home repossessions occurring through the channel of the lender that first made it possible to purchase this home in the first place. Unfortunately, such a thing is all too commonly seen not just throughout the course of the year of 2018, just one single year, but all throughout many of the past years as well – and likely to occur in many of the years that are ahead of us, to boot.
But why is the issue of foreclosure so widespread? For one thing, people just don’t know much about their mortgage – or about their homeowner rights. Not knowing about these two things – mortgages and homeowner rights – has led to many a home being foreclosed on. Again, this is something that is very much backed up by the data that has been gathered on the subject. After all, this data shows that up to 60% of all home owners in this one country alone have stated that they do not fully understand all of the terms of their mortgage and all it entails – and wish that they understood it much better than they actually do. As a result of this, it is likely that a good portion of home owners – if not the majority of them, for that matter – do not fully understand their homeowner rights as well, something that is incredibly important to be as fully aware of as possible, to say the very least. Ultimately, understanding your homeowner rights might even mean the difference between keeping your home or having to give it up.
If you are facing foreclosure, the first step to fully understanding your homeowner rights is to contact a skilled and experienced legal professional in the field. A foreclosure attorney is a good place to start, as too can be a real estate lawyer or even an eviction defense lawyer. These lawyers will specialize in the matter at hand and will therefore be the most likely to help you out when you need it the most. At the end of the day, having a lawyer in your corner can help you understand homeowner rights better than you even thought you needed to, therefore supporting you and helping you when you perhaps felt like things could no longer be helped anymore. Therefore, having someone like a real estate attorney or HOA foreclosure attorney in your corner is quite essential indeed, should you ever find yourself and your family in such a dire and unfortunately housing situation, as many will at some point.