For millions of Americans, owning a home fulfills lifelong dreams. Alternately, facing foreclosure can become the ultimate nightmare. Yet, losing your home is not always a foregone conclusion. Help from a Foreclosure Lawyer in Lawrence, KS, can make a difference.
Become aware of the process and different available options if you fall behind in mortgage payments.
Receiving a Notice of Default
Try talking to the lender before you fall behind in payments. This may help you overcome objections once foreclosure proceedings begin. If communicating does not work, your lender may proceed with sending you a Notice of Default.
Although a Notice of Default from the lender limits your options for keeping your house, it does not mean all is lost. Typically, you will get some time to bring past due to payments current.
If you are unable to fulfill these requirements, the following four options might be available.
4 Options to Avoid Foreclosure
1. Selling Your Home
– A full-service broker can help you with either a regular sale or short sale of your house.
2. Deed-in-Lieu of Foreclosure
– This is simply deeding the house back to the lender in exchange for a cancellation of the foreclosure action.
3. Become a Short-term Renter
– The lender might agree to let you stay in the house until you find another place to live.
4. Consider Filing Bankruptcy
– A foreclosure lawyer in Lawrence, KS, can help you file for bankruptcy to stop foreclosure actions.
Get Help with an Emotionally Draining Process
Contact Joseph I. Wittman today for dedication and experience with foreclosure and bankruptcy procedures.