Tips to Fight Foreclosure

fight foreclosure.jpg

When you make the decision to buy a home, it is an exciting time, one filled with much joy and anticipation of what is to come. 

Unfortunately, however, despite the joy you initially feel upon purchasing your home, situations could arise that could lead to your home being foreclosed upon.

When this happens, you risk your precious home being sold at auction…unless you know how to fully and effectively combat the foreclosure, which you can do in a wide range of ways with the right legal help.

Loan Modification

In some cases, a wonderful alternative to foreclosure may be something known as a “loan modification,” which, as the name implies, would modify or change the terms of your loan to give you a better chance of actually paying it off.

When loan modifications are an option, mortgage companies typically have to let you know of this option and how it works and give you an opportunity to accept or deny the modification before proceeding further.

If you are offered this option, be sure to contact an attorney to help walk you through the process. Similarly, if you are not offered the option in a timely manner, speak with an attorney as this could be a violation of your rights as a homeowner. Furthermore, an attorney could also come in handy if you are ultimately denied for a loan modification and want to appeal the decision.

The sooner you act in any of these instances, the greater your chance of saving your home.

Improper Service Complaints

When it comes to foreclosing on a home or other property, a “Complaint and Summons” must be supplied to the homeowner. This document will establish the legal basis for the foreclosure and indicate the presence of a foreclosure lawsuit, as well as what actions must be taken and when.

If you never receive these documents prior to a foreclosure or if you feel that the documents were not properly and legally served, you will want to get in contact with an attorney.

In some instances, an attorney may actually be able to prove improper service and get the foreclosure revoked or, at least, postponed, thereby buying you more time to save your home.

These are just two of many ways in which you could potentially fight a foreclosure and secure ownership of your home.

To learn about other options or to explore these options further, contact a qualified attorney at the first warning sign of a potential foreclosure.