Now that state and federal pandemic protections for homeowners are no longer in place. Florida foreclosures are happening at an alarming pace. If you are late on your mortgage payments, you may have concerns about foreclosure. Mortgage lenders usually begin foreclosure after a homeowner misses their fourth payment.
But there are ways to defend yourself against foreclosure, so you do not lose your home. This can prevent you from suffering the negative impact of having a deficiency judgment against you. Here are some mistakes you should try to avoid if facing a foreclosure.
Failure to Communicate with Your Mortgage Holder
It is a certainty that your lender will contact you to try and collect the debt that you owe them many times before the foreclosure process begins. Ignoring these calls, letters, and emails will not make them disappear. It can actually add to the problem.
Homeowners avoid these stressful communications because they want to avoid the wrath and judgment they fear they will face if they pick up the phone. But lenders are reaching out because they want to work with you so that you can keep your home. It is not in their best interest to foreclose on you either. So, communicate with them and figure out some options for catching up on what you owe.
Failure to Negotiate with Your Lender
Most people do not realize that it is possible to negotiate with their lender. Sometimes, it is possible even to have the amount of the debt owed reduced. Negotiating can be tricky, so it is usually in your best interest to retain a foreclosure defense attorney to help you navigate the process.
Often, your mortgage company will be happy to have the option of being paid back rather than going through a costly process that may still harm them financially because of the responsibilities of taking over your mortgage. They are not in the real estate business and do not want your home.
Revenge Property Damage
Anger that you are losing your home can cause you to become frustrated and aggressive. You may want to take that anger out on your lender by destroying your home. It is surprising how often this happens. But, even if you are certain you will lose your home, do not damage it.
If you do, you could be on the hook for repairs and could be charged with vandalizing the property. If you are struggling financially, destroying the property will add needless expenses to your full plate. So, keep up with your property maintenance and do nothing that will deface it or require repairs.
Facing Foreclosure Without a Foreclosure Defense Attorney
If you are interested in the best possible outcome when facing foreclosure, you will want to be informed and capable of navigating the foreclosure process. The possibility of this being successful is much increased by having an attorney with the experience and insight for dealing with foreclosures by your side.
Sharmin & Sharmin Florida foreclosure defense lawyers focus on foreclosures and limiting the impact on their clients daily. They are ready to steer you through this challenging time so that your outcome, when all is said and done, is the most positive one for you and your family.
Do you have a case?
Find out in 3 easy steps if you have a case.
All fields are required. If you need immediate assistance, do not hesitate to call us at (1-844) 742-7646