A mortgage lawyer is a lawyer who specializes in real estate law and mortgage law and help clients with any legal proceedings involving mortgages. There is a lot of money in mortgage assets, so mortgage lawyers are always in demand as a result. And since a mortgage lawyer specializes is in real estate law, they can help a person with anything related to the realm of real estate. At Falk & Klebanoff, we can assist with residential and commercial purchases and sales, the sales of a business, as well as landlord and tenant disputes. Real estate is a tricky subject and nobody should be left on their own. Let us fight for you.
At the end of the day, there is no difference between a mortgage lawyer and a real estate lawyer. Both specialize in the same field and contest cases that are similar in nature. Mortgages are a significant part of the real estate industry and lawyers who enter the real estate field are skilled in real estate and mortgage issues. Trust Falk & Klebanoff with your mortgage inquiries.
In general, a mortgage lawyer specializes in protecting his client's interests in a mortgage transaction. Here are three aspects of what a mortgage lawyer does.
Most home buyers are unfamiliar with mortgage terms or their legal obligations during and after taking out a mortgage. This is why real estate lawyers are important, because they specialize in providing real estate and mortgage legal advice to home buyers of all types. This way they are better able to make good decisions about the homes they buy and the mortgage terms to which they agree. Nobody wants to be stuck and confused when it comes to mortgages and buying a home.
Mortgage contracts are usually drawn up by a mortgage lawyer representing the interest of a mortgage lender. Due to this, a prospective home buyer benefits from hiring a mortgage lawyer to review the contract in order to discern how it will affect the home buyer's interests. Of course, it is possible for a home buyer to complete a mortgage transaction without the advice of a lawyer. However, no mortgage lawyer on hand leads to a greater risk to the buyer.
Mortgage lawyers are also important because they ensure that homeowners can always meet the terms of their mortgage. In some instances, homeowners may find that they are unable to meet the terms of their mortgage and that can be a result of not consulting with a mortgage lawyer first. Here are three reasons a homeowner cannot meet the terms of their home mortgage:
A good mortgage lawyer can advise the homeowner on his or her options and whether it is in their best interest to attempt to save the home or to find a way to end her commitment to paying her mortgage. If the homeowner wishes to save his home, the lawyer may be able to negotiate changes to the mortgage terms. However, if it is not in the homeowner's best interest to continue paying the mortgage, the lawyer may be able to arrange for a short sale or deed in lieu of foreclosure as alternatives to the more financially damaging option of foreclosure. Either way, having a trusted lawyer who understands real estate law can help you tackle any sort of issue.
Falk & Klebanoff has years of experience of being a real estate lawyer on Long Island. Effectively handling many different aspects regarding real estate and its many subdivisions. If you need guidance on a mortgage, please contact our office today.
When you reach out, we can provide you with a no-obligation consultation and go over any legal question you have. Located in West Hempstead, New York, we work with clients from across Long Island. Buying a home is the single most important decision you will make and having a lawyer who understands the ins and outs of the field can help you effectively navigate it.
