Did loss of income lead to a threat of foreclosure?

| Nov 15, 2018 | Foreclosure |

There are many reasons that Florida homeowners may be unable to meet their monthly mortgage payments. Some have been hit with medical bills due to chronic adverse health situations or medical emergencies. Others have gone through divorce and are struggling to financially recover. While most financial crises are temporary, such problems can have far-reaching consequences, such as causing a homeowner to face the threat of foreclosure.

If a homeowner misses a few mortgage payments, the lender may attempt to recover the balance of the loan by repossessing the property. Some lenders are willing to agree to alternate payment plans, wherein the homeowner would be able to keep his or her house as well as ultimately satisfy the mortgage debt. For this reason, it is often a good idea to contact one’s lender to discuss whether there might be alternate payment plans available.

It is difficult enough to encounter serious financial challenges in life. Finding out that there is a real possibility that you might lose your home can cause additional stress and can be a very frightening experience. However, there are often courses of action available to help you save your home.

Cuevas, Garcia & Torres, P.A., in Florida, are fully prepared to initiate foreclosure defense on your behalf. Legal consultation often provides perspective and support to help overcome even the most complicated situations. Our experienced attorneys understand how much your home means to you and are fully committed to exploring any and all options available that will help you retain ownership and avoid further legal problems regarding your mortgage.

Archives