What is a Notice of Intent?
According to the Consumer Credit Counseling Service of Central Oklahoma, your mortgage company is going to send out a letter which may be titled “Notice of Intention to Foreclose.” If you have received this, you may be worried, frustrated, and outright upset because you may have no other form of income that will allow you to meet the financial demands of your mortgage lender.
If you receive this letter, don’t take the matter lightly as it identifies a rather serious issue. You don’t want to ignore this letter and if you aren’t sure what steps you should take to begin repaying your lender back what you owe, you need one of our well-versed and qualified Oklahoma foreclosure lawyers working with you to help. If you choose to not address the letter, you risk having the foreclosure process continue on and you having your home sold at a sheriff’s sale.
Most foreclosure processes take 4-6 months before they are complete. This is because the state of Oklahoma follows a judicial foreclosure process, which means foreclosure is conducted through the court system. And as you know, the court system can sometimes take a long time before they get around to your matter.
What does this mean for you?
Because the foreclosure process can take months in Oklahoma, you still have time to regain control over the situation and find a way to repay some if not all of your debt. Our foreclosure lawyers in OK can even speak with your lender and negotiate an amount that can make this unfortunate matter go away.
Therefore, if you are behind on a few payments or have already been provided with a Notice of Intent to Sell, you need to take action immediately. We have agents who will gladly work with you, take down some information, and work to get you paired up with a nearby Oklahoma foreclosure attorney today.
