What You Should Do When Facing Foreclosure

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Don’t Delay in Getting Help!

Do not procrastinate. While each situation is different, there are some basic timelines to use as a guideline. Foreclosure procedures will not start unless the homeowner is delinquent in the mortgage payments. If you think that foreclosure proceedings are about to start, take the following actions:

Gather all the information that could possibly assist in any kind of discussion with the lender, or in court. Take the initiative!

If you find your financial circumstances changing in any way (positively or negatively), contact the lender to keep him or her abreast of the situation. Be forthright and sincere!

Do not understate, or embellish, your financial situation. Honesty truly is the best policy!

Ask lots of questions to determine your options.

See if the lender will work with you to negotiate a better outcome, instead of foreclosure, for everyone involved.

Consult with an experienced foreclosure attorney such as James Andrews of Andrews Law, PLC. There are idiosyncrasies, nuances, and different options that attorneys are aware of (that you may not be and the lender may not tell you) as a result of working with lenders and the courts every day.

If you are behind in your mortgage payments and would like to discuss options to avoid or prepare for foreclosure, contact the experienced foreclosure attorneys of Andrews Law, PLC at 480-237-9756 to schedule a confidential consultation.

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Topics:  Foreclosure, Lenders, Mortgages

Published In: Residential Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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