Being faced with losing your home is a daunting, stressful prospect. The housing bubbles and subsequent price crashes in 2008 left numerous homeowners in this very predicament. Mortgage payments simply become too overwhelming and unmanageable, leading homeowners down the unfortunate path of possible foreclosure. In these scenarios, real estate law firms can be a great help in assisting people through the process and achieving the best outcome under the circumstances.
Common Conceptions About Foreclosure
Once you are unable to make timely mortgage payments and your lender sends you a notice of default, this is the time to contact an attorney to start surveying your options. Some lenders may try and push you sell the property for less than its worth, otherwise known as a short sale. Sometimes the lender will take back the property and sell it through an auction or an agent. Whatever the case, an experienced foreclosure attorney will help you sort through your options. The Law Offices of Steven Brian Davis is one of many real estate law firms that can help defend you against foreclosure. Contact Steven Brian Davis here to set up a consultation.
Foreclosure is often portrayed very negatively throughout society, attempting to shame homeowners who can no longer make their mortgage payments. This further makes the them feel helpless and defenseless against big lenders. The process is designed to overwhelm and roll over inactive homeowners who have no legal representation and take no action. Do not get swayed by this mentality. Experienced real estate law firms are there to stand by your side and help you fight through this stressful process.
There are many possible solutions, including:
- getting a loan modification
- filing for bankruptcy
- getting a deed in lieu of foreclosure
Don’t let a big bank or lender try and roll right over you in a foreclosure process. Contact an experienced real estate attorney like Steven Brian Davis to stand by your side against the big bad lenders.