Facing foreclosure can make anyone feel like their life is crumbling at their feet. While it's a scary process, facing foreclosure doesn't mean you'll lose your home. Do a lot of people lose their homes to foreclosure? Yes. Is it possible to save your home if the proper steps are taken? Yes. If handled correctly, foreclosure can be nothing more than a bump in the road.
At Borell Law, we have saved countless homes from being repossessed in Jacksonville, Orlando, Tampa, West Palm Beach, and Miami. While these tips won't save your home on their own, they will definitely put you on the right track to doing so.
The most critical part of facing foreclosure is understanding what part of the process you're in. Someone at the stage of missed payments will be in a much different situation than the person already in the middle of court proceedings. Talk to an experienced real estate attorney to better understand your situation and the best options.
If you're reading this blog, you're probably past this point. But if you need help making payments on time, the best thing to do is communicate with your lender early on to see what options you can take. You don't have to wait until you're drowning to try to get out of the pool; ask for guidance early.
If you're facing foreclosure, strong legal representation is your best shot at avoiding losing your home. If you don't want to talk to an attorney, that's fine; the lender will be ecstatic to hear about it. But if you are open to speaking to a professional, they can help you better understand your situation, present alternatives, and represent you during those tough legal battles.
If your home is facing foreclosure, you must understand your situation in depth. Even though a foreclosure notice may make you feel like you'll lose it all, there are still plenty of options. Loan modification, refinancing, short sale, or deed in lieu of foreclosure could all be alternatives to facing the music. Speak to an experienced real estate attorney to learn about the best available options.
Understand your legal rights as a homeowner facing foreclosure. Your attorney can explain your rights under state and federal laws, including foreclosure defense strategies and protections available to you. Every case is different, so tell your attorney all the details.
If you're facing foreclosure in this economy, you might think you’ll automatically lose your home in the process, but that couldn’t be further from the truth. Easier said than done, but you shouldn't panic. You still have options, and you still have rights; don't let a lender bully you into thinking otherwise.
