It is not uncommon for Florida homeowners to be facing economic distress these days. Even an unexpected medical emergency or decrease in income is often enough to tip financial scales in the wrong direction. Sometimes, it’s merely a matter of adjusting one’s spending habits to get things back on track. Other times, however, a threat of foreclosure or other serious issue can make a homeowner feel like things are getting out of hand.
Missing a mortgage payment or two is not all that uncommon. The worst thing a person can do, however, is ignore notices that may arrive in the mail from a lender. The chances of losing a home to foreclosure increase the further behind a homeowner gets in payments. People often have pure intentions when they fall behind in their payments, thinking they will be able to get back up to speed in a month or two, then become stressed and worried when they are unable to make it happen.
On the other hand, contacting a lender and discussing the problem may lead to a solution. Many lenders would rather agree to alternative payment plans than go through the paperwork hassle they will incur if they foreclose a home. It is also a good idea to learn as much as possible about foreclosure laws and mortgagor rights.
An experienced real estate law attorney can provide legal guidance and support to any Florida homeowner trying to avoid foreclosure. Such an attorney can help a homeowner explore prevention options. An experienced attorney can also provide valuable information to help unsuspecting homeowners avoid falling victim to repayment scams.