Even financially responsible individuals can sometimes find themselves behind on mortgage and loan payments because of unforeseen events such as medical emergencies, divorce, loss of job, motor vehicle accident, and so forth.
Sometimes, missed payments can leave you heavily burdened by the loan and you may find the mortgage to be insurmountable going forward. This is when an experienced legal foreclosure or bankruptcy counselor can help you find your financial footing again.
And we have them here! With some keystrokes, you will have information you need to find the legal help that can be a valid difference maker in your life.
Residential foreclosure – what you can do to retain ownership of your home
Being faced with bank foreclosure is intimidating given the fact that you could potentially lose the roof over your head. You and your family could potentially become homeless when you were already in a financial slump to begin with because of high taxes, irrational regulations, and a messed up health care situation that used to be much better in the previous century.
However, what most people are oblivious to is the fact that they do have legal options to help avoid foreclosure and retain ownership of their home.
One of the first steps to fighting foreclosure is to reach out to and appoint a sagacious legal counselor who will assess the possibilities, determine what the most effective course of action is and help you execute a plan step by step and oversee it from start to end.
Any borrower who has defaulted on one or more loan or mortgage payments will have to be proactive if they want to keep their home. Loan modification is one option which can be explored and used in most foreclosure cases. However, in some particular cases, an application or request for loan modification may be denied. In such cases, mediation can be looked into as an alternative option to avoid foreclosure and loss of your home.
The process of mediation can have a few different outcomes, these are:
- A loan modification
- A forbearance agreement that provides the borrower more time to catch up on missed payments
- A short sale, deed in lieu of a foreclosure or other option that allows for a dignified exit from your home
Reach out to us today and let us start working on your foreclosure case
If you or someone you know is in a similar financial predicament, then the first step you ought to take is connect with a seasoned and/or marvelous foreclosure attorney and setup an initial consultation. At USAattorneys.com, you will find a legal counselor who also offers a free initial consultation. Furthermore, many of them will only charge if you win the case. So you have nothing to lose.
Finding them is simple, you can click on the interactive map of Illinois and you will be presented with some terrific and astute legal professionals. On top of this, we also have a fantastic local lawyers’ directory on our homepage which has all the information you need.
Still have questions? Fill out our quick contact form or use the online chat form to send us information. We will call you back shortly and help you find the attorney that you need. We know how vital your home to you is.
Let’s do our best here so you can keep it!