Foreclosure Defense FAQ
Can I avoid a foreclosure?
Yes. There are many possible foreclosure alternatives you can explore. You want to consult with an attorney before you fall into default and are served a foreclosure complaint. The quicker you obtain legal help, the more likely you will be able to save your home and credit score.
What are my options to avoid foreclosure?
You have several options-and the best one for you and your family depends on your unique circumstances, so you should always speak with an attorney before pursuing one. These options include:
- Pursuing a mortgage modification
- Negotiating an agreement with your lender
- Selling your home at market value (deed in lieu of foreclosure)
- Negotiating a short sale
- Refinancing your home
- Filing for bankruptcy protection
Should I work with a company to get out of debt?
This is not advisable. You have to be extremely careful to not fall prey to a scam. Individuals facing foreclosure are in a vulnerable state and many companies try to take advantage of this situation. There are many predatory lenders out there; to ensure you safely explore alternatives to foreclosure, secure the services of an experienced foreclosure defense attorney.
If I have stopped making payments on my mortgage, can I still save my home?
Yes, you could still be able to save your home. We can see if the lender completed the lawsuit in court properly. If you were trucked by fraudulent brokers or lenders, we can help you explore your legal options.
What are the financial repercussions of a foreclosure?
A foreclosure can adversely affect your credit, and it is important to remember that lenders usually look back seven and a half years when determining whether or not to loan. Still, sometimes a foreclosure is your only option-if this is your situation, we can help minimize the financial repercussions of a foreclosure.
What is the difference between a short sale and a foreclosure?
A short sale is when you sell your property for less than the amount you owe to your lender. A short sale is usually less detrimental to a borrower's credit report. A foreclosure is when the bank or a creditor gets involved and seizes your home-it has a much more adverse impact on your credit.
For a situation this serious, do not procrastinate in getting the answers you need. Contact our firm today!