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What to Do When You Receive a Notice of Foreclosure

What to Do When You Receive a Notice of Foreclosure | Avoid ForeclosureThe average person dreads tasks like checking the mailbox everyday for the fear of it being loaded with monthly bills. People that are better off financially never have this problem. If you are behind on your mortgage payments, your bank could have already prepared and mailed a notice of foreclosure. If you are in receipt of this notice, it can be a frightening and traumatic experience to go through. There is a process of what to do when you receive a notice of foreclosure that you must follow to avoid foreclosure.

What you don’t know is that your bank or lender has been arranging the foreclosure process since your first one or two missed payments. The clock has already started ticking. The notice that you received is news to you but not your lender. You are typically given a small time frame to bring your mortgage current. This time frame is usually 30 days or less from the date the notice was mailed to you. The first thing that you can try to do is  contact your bank or lender and ask for an extension. Sometimes they will accept that you are going through a financial hardship.

Get Help Before a Notice of Sale is Scheduled

Many homeowners spend too much time trying to fight a losing battle of communication with their mortgage lender. When lenders make several denials of simple offers, it is time that you act fast and get help quickly. If a lender does not want to negotiate, you can pursue other options that can help you avoid foreclosure. Working directly with a trained foreclosure counselor is one of the best options that you have to fight foreclosure. These counselors can evaluate the stage of foreclosure that you are in and make expert recommendations. Your time is limited when fighting your lender. By acting taking action quickly, you can explore alternative options to help you stop foreclosure.

When a notice of sale has been issued, you have a tougher time winning the battle to keep your home. Your bank or lender will have already announced the public sale and many buyers will attend the public auction. The process of foreclosure is judicial in many states meaning that banks and lenders must use the U.S. legal system to enforce foreclosures. This delays the process, but it will always help expedite it once a judge hands down decisions. An expert counselor is the only one that will introduce you to the ways to keep foreclosure from tearing your life apart.

Contact Avoid Foreclosure by calling 1-866-632-8832. Let a specialist fight your notice of foreclosure today.

 

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