Threat of foreclosure doesn’t necessarily lead to a done deal

| Jul 10, 2019 | Foreclosure |

It is understandable that a Florida homeowner facing a serious financial crisis might be worried about keeping up with mortgage payments. Even missing a couple payments can place someone at risk for foreclosure. If such a risk becomes a reality, it is best to try to not panic and to learn as much as possible solutions as possible because there are often ways to get things back on track without losing one’s home.

Lenders typically want to avoid foreclosure as much as homeowners. This is why it pays to get in touch with a lender as soon as a problem arises. Doing so may lead to an alternate payment plan agreement that can prevent losing a home and also help restore financial stability.

A borrower has rights. If a foreclosure process is activated, it must be done so in a way that does not violate a homeowner’s rights. If a person is unsure as to what those rights are, it can be helpful to consult with an experienced real estate law attorney.

It is definitely not a good idea to discard unopened mail if the receiver thinks it pertains to his or her mortgage and a possible threat of foreclosure. Lenders must send out written notification and it will only make matters worse if the homeowner fails to open or respond to a notice. Many companies promote services that supposedly help people save their homes; however, many of these companies are scammers who exploit homeowners by taking financial advantage of them. Anyone in Florida who is worried about losing his or her home may wish to schedule a meeting with an attorney who can help determine the best course of action.

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