Due t? the melt ??wn of th? U.S. housing industry, man? more homeowners th?n ev?r before ?re ?n n?e? ?f a foreclosure defense attorney. The economy has soured due t? a variety ?f reasons including unemployment, home prices that soared to? high t?o quickly (otherwise known a? th? bursting of th? housing bubble), an? mortgages th?t were given ?ut w?th?ut proper income verification or ??wn payments. All of the?e items h?v? h?d the domino effect in terms of huge numbers ?n foreclosures. What is a foreclosure? This i? a legal action tak?n b? the mortgage lender, usually a bank, who holds the note ?n ? home. When ? homeowner takes out a mortgage, h? ?r sh? signs a legal contract stating that monthly payments in an agreed u?on amount w?ll b? made. The contractual agreement states th?t if payments aren't made, th? house i? repossessed by the lender. Why haven't th? payments b??n made? Many people hav? lost their jobs ?n? need t? relocate. In the old days, th?? would ?ust me?n selling the house. The problem with ?ur current housing situation is th?t most people aren't ?ble to sell an? move on be??us? they are upside-down on th?ir loans. Being upside-down ?n ? loan means th?t ?n? owes more th?n the property is worth. Very f?w people c?n afford t? pay th? bank to g?t rid ?f the?r home. If th?y h?? excess money t? burn, th?? wouldn't h?v? stopped making th?ir mortgage payments in the f?r?t place. Some steps th?t homeowners c?n d? to save their home include:

 - Borrow fr?m another source to pay ?ff th?ir mortgage. Is th?r? ? rich relative or winning lottery ticket lying around? Probably not, so on to the next option. - Refinance ?r reconfigure th? loan int? ?ne w?th smaller payments. If th? homeowner has good credit, th?s i? sometim?? a possibility. The banks h?ve ended u? with ?? m?n? repossessed properties ?n the?r hands that they've b???me m?re flexible ?n working out alternative plans. - Short sale: In ? short sale, th? homeowner ma? n?t save the?r home, but th?? may end up ?n a m?r? favorable credit situation. This ?? wh?r? the property is sold to s?m?one ?t a lower cost than wh?t ?? ?urrently owed. This requires ? savvy realtor an? ? bank th?t is will?ng t? tak? l?ss money. - Chapter 13: This i? wh?re ? foreclosure defense attorney come? into play. In a Chapter 13 filing, a person can restructure th?ir debts and k?e? the?r house. When ? lawyer steps in to h?lp with th?s option, the foreclosure action is halted bef?r? the property i? put u? ?n th? auction block.

Don't delay; contact ? foreclosure defense attorney t? save your home b?for? it's too late.

Hopefully y?u'll never ne?? ? foreclosure defense attorney