Advising Clients Facing Foreclosure

When the American dream of home ownership turns into a financial nightmare, the realities of foreclosure can intersect with many legal practice areas, including bankruptcy, family law, probate, employment law, worker's compensation, business law, and real estate and property law. Lawyers in these and other practice areas who understand the foreclosure process can help clients facing difficult circumstances.

by Mark Richard Cummisford

Foreclosure of prime1 and subprime2 mortgages can have a devastating effect on clients. For most people, fulfilling the American dream of home ownership requires making the largest investment of their life. This investment requires not only a significant financial outlay but also a very personal commitment to keep pace with a new lifestyle. Unfortunately, too many people cannot keep pace with their newly acquired American dream, and the dream turns into a financial nightmare. Foreclosure case filings in Wisconsin during the first nine months of 2007 have increased more than 34 percent above the number of cases filed during the same period in 2006.

To learn more, please visit Wisconsin Lawyer Magazine at WisBar.org