How Do I Save My House from Foreclosure?
Homeownership can be a wonderful, fulfilling and pride filled experience. For many people, their home is the place that makes them feel safe and secure. Owning a home can give you the freedom to do things you might not be able to when renting, will give you a sense of pride and could possibly be the start of building long term wealth for you and your loved ones. That being said, the path to homeownership can be a very difficult one.
People can fall on hard times and find themselves at the brink of losing their home. The harsh reality is that foreclosure actions on homes are filed almost every day.
Nikolaus & Hohenadel, LLP is a foreclosure law firm that seeks to help you avoid having your home taken away from you. Our foreclosure lawyers will work hand in hand with you to guide you to the best potential outcome when approaching the possibility of foreclosure. We’ve assisted people in Lancaster, PA and the surrounding area to prevent the result of foreclosure and we want to help you too!
The best place to start is to understand what happens in a foreclosure. A home falls into the foreclosure process when a homeowner does not make payments to their lender based upon the agreement they made with the lender (the Note). When a homeowner becomes delinquent in their payments, the lender has a legal right to begin the foreclosure process by filing a mortgage foreclosure complaint. Once a judgment is obtained, the mortgage lender will file a writ of execution with the sheriff’s office, asking the sheriff to list the property for a sheriff sale. At the designated date for the sheriff sale, the sheriff will go through a list of properties and auction them off to the highest bidder, with the highest bidder becoming the new owner of the property.
Working with a knowledgeable foreclosure attorney can help you avoid foreclosure and keep your home. If you find yourself rapidly advancing towards a foreclosure, you need the help of a foreclosure law firm that is on your side! The experienced foreclosure lawyers at Nikolaus & Hohenadel, LLP will help you make the best decisions for you and your family. If you were served with a mortgage foreclosure complaint, you should contact us immediately.
In the meantime, here is some useful information to help you along the way:
- Contact Your Lender – The very first thing you should do when the possibility of foreclosure is looming is to get in touch with your lender. It is possible that they might be able to set up a payment program that will help you avoid a foreclosure (loan modification agreement). Though this is not a guarantee, it is the best place to start.
- Create A Budget – If you are approaching foreclosure, one of the best things you can do to avoid it is to make a budget. Check to see where your spending is happening and what you can cut or drastically reduce to be able to make your mortgage payments on time. Decide what things are priorities and what is absolutely necessary, and eliminate anything else.
- Avoid Scams – It is unfortunate, but in today’s world, there are many people who simply want to take advantage of others. Especially when they are vulnerable or feeling helpless. Foreclosures can make people feel exposed and a scam artist will prey upon someone they believe they can fool into giving them money. Scammers will claim they can help you make payments or avoid foreclosure by filing for bankruptcy. These people are simply trying to take your money and will be no help at all. Remember not to ever send any information regarding mortgage payments to anyone that is not your lender. Do not sign ANY documents regarding your mortgage or your home without having a lawyer review them first. Never give anyone your personal information, such as bank account numbers or Social Security numbers until you have confirmed who they are and that they are contacting you by legitimate means.
The Making Home Affordable Program has more useful tips on avoiding scammers.
- Consider Filing For Bankruptcy – It is possible that bankruptcy might be the best possible solution for your foreclosure problems. We have experienced bankruptcy attorneys that can aid you in all your bankruptcy needs as well. You can find more information about the bankruptcy section in our firm here. Our attorneys deal with many bankruptcy related matters and can let you know if this is the best option for you in your foreclosure.
We want all of our clients to succeed in life and in homeownership. That road isn’t always easy, and everyone needs help from time to time. Whether you find yourself approaching foreclosure, or are dealing with it right now, our team will help guide you through the process and help you through this difficult time.
Contact us online today if you need legal counsel and the assistance of a team who has your best interest at heart.