As much as you might like to, you cannot hide from a foreclosure. Once a lender decides to file in court, there is no turning back. Lenders will typically begin the process after you miss several payments and do not make any attempts to bring your payments up to date. Federal and state laws require that your lender inform you of its attempts to collect and when it files in court. You must then respond to the notice from the court and attend the proceedings. If you keep hiding from those notices and appearances, you have no chance of saving your home.
If you want to avoid foreclosure, you have a few options. You can use some of your assets to bring your payments up to date. You might sell some old jewelry, find a buyer for your car or take out a loan against your home or your life insurance. Some find it helpful to contact their lenders and talk with them about the problems they have. You might find that your lender is willing to work with you to keep your home. Lenders will sometimes divide your previous payments into smaller payments that they add to your monthly mortgage payments. Though you may need to pay a small fee, keeping your home is worth the cost.
Many people fall victim to some common scams when trying to avoid foreclosure. Foreclosure prevention companies are one type of scam. These companies charge you high fees do contact your lender and take other steps that you could do on your own. Other companies claim that they can stop the foreclosure right away and ask you to sign some legal documents. Many of those companies actually buy your home from the bank and count any payments you make as rent, and some of those companies make actually take over ownership of your home and evict you.
The best way to avoid foreclosure is with help from a lawyer experienced in this field. Here at the Law Office of Yuriy Moshes, P.C., we have years of experience helping homeowners protect their assets and live comfortably in their homes without worrying about a foreclosure occurring. You can become one of our many happy and satisfied clients too. Call (888) 445-0234 today to learn what you can do about a potential foreclosure.