Falling behind on your mortgage is scary, and no one wants to have to wonder if they are going to lose their home because of financial struggles. Our Florida foreclosure defense lawyers have helped many folks avoid losing their homes to the bank when they are falling behind on payments. To learn about how to stop foreclosure, please keep reading.
If you are ready to meet with a lawyer regarding your possible foreclosure, please give our office a call today to set up a free consultation.
Explore Your Options
It is important that you know what your options are when you are trying to explore how to stop foreclosure. Please keep reading to learn about how we can help you through this difficult time. You do not have to lie down and allow the foreclosure to happen to you. Learn how to fight back to save your home.
Mortgage Loan Forbearance
Did you know that you can put a temporary pause on your mortgage payments to help you catch up with your finances? A mortgage loan forbearance is a brief period in which you will not have to make a mortgage payment. You will not be penalized for missing these payments, as they must be approved by the mortgage lender.
How do you get approval for a mortgage loan forbearance? You must apply with your lender.
A forbearance is best suited for people going through a temporary financial hardship that they know they could recover from if they had a break from a considerable payment such as their mortgage. Keep reading to learn more about how to stop foreclosure.
Mortgage Loan Modification
If you have been struggling to keep up with your mortgage payment, do not wait to reach out to your lender to talk about modifying your loan. This is best suited for someone who is going through financial hardship and does not anticipate things changing any time soon.
An example of a good candidate for a mortgage loan modification includes someone who has recently lost their spouse. Losing an income in the household can permanently change your finances.
Your lender will likely be willing to go forward with a modification to your loan if it means they would lose money in the foreclosure, and you have a legitimate reason to file.
Lender Mistakes
One sure way to know how to stop foreclosure is to discover that your lender has made a mistake. Mistakes that would halt a foreclosure include failing to apply your payments toward your balance, giving you an incorrect payoff balance, and unreasonably denying you a loan modification.
If you suspect that a mistake has been made, please do not wait to talk to our Florida foreclosure defense lawyers.
Deed in Lieu of Foreclosure
A deed in lieu of foreclosure is one way to stop foreclosure. It essentially means that you are going to hand over the deed to your home to your lender in order to stop your pending foreclosure.
While it will not result in you keeping the house, it will save you from foreclosure proceedings. If you want to find out if this is the move for you, please do not hesitate to get in touch with us right away.
Get Your Free Consultation Today
If you want to know how to stop foreclosure, please do not hesitate to contact our Florida foreclosure defense lawyer to learn about your options. We would be happy to help set up a free consultation when you give our office a call.
Don’t let the bank take over your home without exploring your options. We are here to help you keep your home and navigate this complicated process.