Anyone that’s been through foreclosure knows that it is a long and painful process. But the more you know about the process and how to fight foreclosure, the better chance you’ll have of stating in your home. Remember that lenders count on homeowners not knowing the ins and outs of the foreclosure process. You’ll need to educate yourself about foreclosure if you want to have a fighting chance. Here are a few tips for fighting foreclosure:
· Take careful notes. Many realize too late that they should have been writing down all the details of their conversations with the lender. For each conversation ask for the person’s name and operator’s ID number. Then take detailed notes about what is said
· Be skeptical. Don’t make the mistake of believing that just because your lender is a major corporation that they must be following the law. In most cases bank employees will be working with your best interest in mind but not always. Don’t believe everything they tell you, especially if it’s not in writing. Verify everything you’re told
· Meet your deadlines. Assuming you’re applying for a loan modification, you’ll be asked to send in a lot of paperwork. Do your absolute best to send them everything they need by the deadline so they can’t hold it against you
· Mail is better than fax. When sending documents, opt for mailing them in. Though it’s a little slower, you can ask for a tracking number. In the event that your lender claims you didn’t send in something, you have a receipt to prove you did
· Keep copies of everything. When it comes to foreclosure paperwork, never throw away anything. Make sure you have a copy of every piece of correspondence between you and your lender. An easy way to do this is to keep PDF files of all documents on your computer
· Have a strategy. In order to navigate the confusing process of foreclosure you need to know how you want to come out of it. If you want to keep your home, you’ll need to educate yourself about steps you need to take to achieve that goal. On the other hand, if you want to sell your home and get out from under your mortgage, you’ll need a totally different strategy
· Finally, don’t leave your home until you’re evicted. Many homeowners mistakenly believe they must leave their home before they actually have to. You aren’t legally required to leave your home until you receive an official eviction notice
Remember that no two situations are exactly the same. These are general tips that can be helpful for all situations. It’s always a good idea however to consult with a foreclosure attorney who can give you specific advice according to your circumstances.
Business, real estate, and bankruptcy law and litigation news brought to you by mbblegal.net
Source:
chattanoogan.com/2013/12/3/264746/How-To-Fight-Foreclosure.aspx
· Take careful notes. Many realize too late that they should have been writing down all the details of their conversations with the lender. For each conversation ask for the person’s name and operator’s ID number. Then take detailed notes about what is said
· Be skeptical. Don’t make the mistake of believing that just because your lender is a major corporation that they must be following the law. In most cases bank employees will be working with your best interest in mind but not always. Don’t believe everything they tell you, especially if it’s not in writing. Verify everything you’re told
· Meet your deadlines. Assuming you’re applying for a loan modification, you’ll be asked to send in a lot of paperwork. Do your absolute best to send them everything they need by the deadline so they can’t hold it against you
· Mail is better than fax. When sending documents, opt for mailing them in. Though it’s a little slower, you can ask for a tracking number. In the event that your lender claims you didn’t send in something, you have a receipt to prove you did
· Keep copies of everything. When it comes to foreclosure paperwork, never throw away anything. Make sure you have a copy of every piece of correspondence between you and your lender. An easy way to do this is to keep PDF files of all documents on your computer
· Have a strategy. In order to navigate the confusing process of foreclosure you need to know how you want to come out of it. If you want to keep your home, you’ll need to educate yourself about steps you need to take to achieve that goal. On the other hand, if you want to sell your home and get out from under your mortgage, you’ll need a totally different strategy
· Finally, don’t leave your home until you’re evicted. Many homeowners mistakenly believe they must leave their home before they actually have to. You aren’t legally required to leave your home until you receive an official eviction notice
Remember that no two situations are exactly the same. These are general tips that can be helpful for all situations. It’s always a good idea however to consult with a foreclosure attorney who can give you specific advice according to your circumstances.
Business, real estate, and bankruptcy law and litigation news brought to you by mbblegal.net
Source:
chattanoogan.com/2013/12/3/264746/How-To-Fight-Foreclosure.aspx
