Did You Receive a Foreclosure Notice in Omaha? You Need a Foreclosure Lawyer

Have you recently received a foreclosure notice? Are you feeling hopeless? If so, did you know there are ways for you keep your home? For many homeowners, a foreclosure is something they can avoid by acting quickly and hiring a foreclosure relief attorney. You cannot afford to do nothing. Let USAttorneys.com connect you with a nearby lawyer who can explain the foreclosure process and help you keep your home.

Don’t Panic. Get Help.

It’s normal to a little panicked about a foreclosure notice, but acting immediately will give you peace of mind. You need to speak with someone who understands the foreclosure process and can enlighten you on the stages and what steps you can take to save your home. We recommend you take the following steps:

  1. Gather and organize your financial documents
  2. Contact your lender and ask if they will make arrangements to get your payments caught up
  3. Call a foreclosure attorney and arrange a case evaluation
  4. Discuss options that may help you avoid foreclosure

Are There Alternatives to Foreclosure?

A foreclosure has many negative implications and can damage your credit for years. For most, losing your home is the worst thing you can think of, but the effects of foreclosure don’t stop there. A foreclosure can leave you to win debt, and you may find it difficult to get back on your feet. Most people want to fight foreclosure and keep their home if it’s a possibility. As a troubled homeowner, the following foreclosure alternatives may work for you.

Mortgage Modification

If you are two or three payments behind on your mortgage, you may be eligible for a mortgage modification. A loan modification is an effective way to avoid foreclosure and is an option for many homeowners in Omaha. Federal laws require banks to give homeowners the opportunity to apply for a mortgage modification, but you should be aware that the denial rate is high.

To be eligible for a mortgage modification, you must:

You are delinquent on your monthly payments or in danger of getting behind on your mortgage payments.

Have legitimate financial problems that make it difficult for you to make your monthly mortgage payment.

You have enough income to afford the modification and have the documents to prove it.

You have not had a felony conviction within the past ten years.

If you apply for a mortgage modification, the foreclosure process is temporarily halted while a decision is being made. If your application for a mortgage modification is denied, you have other options to explore including:

Short SaleA short sale occurs when you sell your home for less than you owe on your mortgage loan. A short sale is not ideal for everyone, but may be an effective way to avoid foreclosure.

If you agree to a short sale, you need to be aware that in Nebraska deficiency judgments are allowed and a mortgage lender. A deficiency judgment is a request for payment of the difference between the short sale amount and how much you owe on your mortgage. For instance, if you owed $250,000 on your mortgage, but the short sale only yielded $200,000, your mortgage lender can file a deficiency judgment for $50,000.

Declare bankruptcy- Filing for bankruptcy is one way to save your home from foreclosure, but it is a difficult process and negatively affects your credit. You should be fully informed of the pros and cons for filing for bankruptcy before deciding this is best the option for you.

US Bankruptcy Court

111 S 18th Plz # 1125,

Omaha, NE 68102

(402) 661-7444

neb.uscourts.gov

Reinstating before foreclosure sale– In Nebraska, you can stop a foreclosure if you make all missed payments including late fees and other penalties. You have one month from the date the trustee enters the notice of default. (Neb. Rev. Stat. § 76-1012)

Why You Should Contact a Foreclosure Lawyer Now

You can find plenty of information online to guide through foreclosure, but that simply isn’t enough for a problem that is so big. You might lose your home. You need to take that really seriously and retain legal counsel. Our foreclosure lawyers in Nebraska can help with a judicial or non-judicial foreclosure:

Non-judicial foreclosure– Non-judicial foreclosure is the most common types of foreclosure and allows lenders to avoid going through the court system. It starts with a notice of default. To contest a non-judicial foreclosure, your attorney will need to file a lawsuit with a local Omaha court and begin working on a foreclosure defense.

Your lender will then notify you of their intent to sell after sending a default notice. They have one month from the date of the default notice to post a notice of sale. Nebraska requires lenders to publish a notice of sale for five consecutive weeks. They are also required to send a notice of sale to the borrower twenty days before the sale takes place.

Judicial foreclosure-For a judicial foreclosure, a lender must go through the state court and get a judge’s approval before they are allowed to foreclose on a home. A judicial foreclosure can be time-consuming but may be your best shot of keeping your home.

Douglas County Tax Foreclosure

1701 Farnam St # 300,

Omaha, NE 68183

(402) 444-4787

There’s no point in beating yourself up for getting behind on your mortgage because anyone can get into a financial bind. Stop beating yourself up and call a lawyer. If you don’t know what to do, just ask an expert.

USAttorneys.com has an experienced and understanding team of foreclosure lawyers who will give you trusted advice and do whatever it takes to save your home. Call and arrange a case evaluation today and get the information you need to deal with your foreclosure. You can count on our team of attorneys, to be honest and upfront about your case and find the best alternative to foreclosure.

 

We now have an office in Omaha:

USAttorneys.com

1299 Farnam Street

Suite 300

Omaha, NE 68102

(402) 513-1532