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Most people never consider the possibility of losing their home to foreclosure and are therefore are unaware of the process. But when you first receive that foreclosure notice, it starts to feel like a real possibility. To avoid this, the best thing you can do to save your home is to be proactive before you miss a payment.

But sometimes making your payments might not be possible for you for one reason or another. Fortunately, there are still ways to recover at this stage. By taking advantage of all resources and consulting help and professionals, you can still keep your home.

So I Received a Foreclosure Notice…

If you have received a foreclosure notice or a notice of default, DO NOT ignore this! This is your lender reaching out to notify you of a missed payment and that they are starting the foreclosure process. You can receive this after just one month of no payment. With each coming month, you will lose opportunities to prevent losing your home. 

It is important to be in contact with your lender as much as possible. You can discuss the reason and situation for missed payment and possibly agree on a solution that works for you financially. It is a good idea to contact a housing representative for assistance. 

Unfortunately, if you continue to miss payments and you are not trying to work with your lender, your rights decrease, and chances of losing your home increase. 

Take Steps to Avoid Losing Your Home

Throughout the process of foreclosure, there are ways to come to a resolution and keep your home. Foreclosures can be fast and complicated, but there are ways to pause and mediate with your lender throughout. Following these key steps will help you to avoid losing your home

Step 1: Be Responsive

Don’t ignore this problem, unfortunately, it will get more serious as time goes on. This means you must answer phone calls and open and respond to any mail from your lender.

With that said, be careful to not fall victim to scams who prey on homeowners in this position. It’s important to not fall for “too good to be true” offers and always double-check any mail you get for the correct names and addresses of your lender. 

Step 2: Seek Assistance 

Without an understanding of the system, it can be difficult for homeowners to take advantage of every opportunity given to come to a resolution. By working with a housing representative or defense lawyer, you can mediate with lenders and come to an agreement. 

There are HUD-approved housing representatives who work with homeowners and offer advice and assistance. Contacting a foreclosure defense attorney is the best way to learn your rights and be sure any agreements you sign are legal and fair. 

Step 3: Consult Your Budget

Don’t forget to look at all your options, including moving money around to pay on your home instead. There is a possibility that canceling other things 

Hire a Foreclosure Defense Attorney Near You

If you have missed a mortgage payment and received correspondence from your lender, this can be unfamiliar and scary territory. Don’t do it alone.

By hiring a foreclosure defense lawyer, you will be in the passenger seat as they navigate the complicated process and assist you with keeping your most precious asset. 

Contact Jeff Jared Law today.