When you receive a notice from the bank requesting that you catch up on your mortgage payments, you may be incredibly worried over what is to come. This is especially the case if you know that you are unable to pay. As a result, you are likely to endure the foreclosure of your home. The loss of your home may be one of the hardest experiences you stand to face. Although an attorney, like a real estate appeals lawyer in Sacramento, CA from the Timothy Kassouni law firm, may play a key role in guiding you through this process, here are some steps you may want to take when faced with a foreclosure:
Step One: Contact a Foreclosure Attorney
There are a number of reasons the foreclosure process may be helpful with an attorney by your side. Despite there being a variety of reasons for a foreclosure, there is no way to mitigate the shame and sense of helplessness a homeowner is sure to experience. Knowing that memories you had planned to create in your home will become a thing of the past can be heartbreaking. An attorney can play a key role for many reasons:
- They can help you to understand the legal process to follow.
- They can carefully review your case to determine if there is any way to prevent foreclosure.
- They can help to protect your rights throughout.
- They can represent you in the legal process.
- You have someone well versed in real estate and foreclosure to support you through the process.
Step Two: Determine Whether You Will Fight the Foreclosure
This can be a difficult decision to make, one that may be best determined with the assistance of an attorney. In some cases, there may be alternative solutions. However, should you determine that you will not fight the foreclosure, it’s important to be aware that you won’t be required to pack up and vacate right away. There will be a period of time in which you will remain in the home and save the money you would have spent on your mortgage towards making an alternative plan for yourself. Depending on the state where you reside, the timeframes can vary. An attorney can help to determine the time you will have before you will need to leave.
Step Three: Gather Financial Documents
The process can be overwhelming, making sure that you are as organized as possible can help to alleviate some of the strain. FInancial documents can be helpful when determining how to remedy your situation. In addition, providing your attorney with as much information pertaining to your financial standing as possible may be helpful when providing you with representation.
For those facing the possible loss of a home, a foreclosure defense attorney can be helpful in walking you through the process. Facing foreclosure can be scary for a homeowner, surely you will worry over the ramifications tied to your credit, in addition to where, and when you will need to relocate. An attorney can help to shed some light on a process that is sure to be overwhelming and emotional.