How Does the Foreclosure Process Work?
Home foreclosure can be a stressful and scary situation. If you have begun to fall behind on your mortgage payments, you may soon face foreclosure. It is important that you get the help that you need as soon as possible so that you are able to fight and keep your home. If you are looking to learn more about the home foreclosure process, you are in the right place. We help good people like you and your family.
What is foreclosure?
Foreclosure is the legal proceeding in which the financer of a mortgage takes possession of a real estate property in order to pay off the debt. Foreclosure occurs when a homeowner defaults on a mortgage loan.
What happens during the foreclosure process?
The foreclosure process happens in the following way:
• You fall behind on your mortgage payments. Even if one mortgage payment is skipped, a lender is able to foreclose on your home.
• You will then receive a letter stating that the loan provider intends to foreclose on your home. You can avoid foreclosure by paying off the debts along with accrued interest and additional fees. If you do not pay the debts within the time frame listed in the letter, your lender will file a lawsuit.
• After the lawsuit is filed, you will receive a summons. You are able to respond to the summons and can contest the foreclosure. If you choose not to respond to the summons, foreclosure will likely occur. If you choose to contest, you are able to explain why you feel you should be able to keep your home. Even if your reason is valid, it may only be a temporary success in putting the foreclosure to a halt.
• As the foreclosure continues, your lender will then send you a letter of intent to sell. At this point, you are still able to pay off the debts along with paying additional fees in order to stop the foreclosure.
• The lender will then hold an auction. If no one buys your home, the lender becomes the owner of the property.
• Once you receive an eviction notice, you must leave the property.
What can be done to avoid home foreclosure?
Get the help of experienced foreclosure defense attorneys to help you fight your home foreclosure!
What can a foreclosure defense attorney do?
An experienced foreclosure defense attorney can help you in the following ways:
• Answer your questions and address your concerns about the home foreclosure process
• Examine mortgage documents to analyze the terms and decide if there is a way to fight the foreclosure
• Communicate directly with your lender
• Defend you in court
• Negotiate the terms of s your mortgage agreement
• Explain your other non-foreclosure options
It is imperative to get help now
If you are falling behind on your mortgage payments, it is time to get help now. We can help you understand all of your options! Home foreclosure is extremely hard to fight on your own, so it is best to get the help of a professional attorney. We will fight to help you keep the home that is rightfully yours.
Where to get help
For your convenience, we have two offices, which are located in Clay County. We can help! CALL NOW!