Facing foreclosure is one of the most difficult situations that someone can face. Losing your home can lead to drastic circumstances, especially if you are supporting a family. Though it is simply a tool for lenders to use as leverage to collect from you, foreclosure is still a very serious situation and should be considered as such. The process of foreclosure can lead to the loss of your home, leaving you and your loved ones without shelter. Fortunately, the Tampa area is home to a variety of certified attorneys who specialize in foreclosure defense. With the aid of these attorneys, you can increase your chances of reclaiming your home and getting your life back.
What is Foreclosure?
Many homeowners borrow from mortgage lenders to pay for their home with the intent of paying back the loan with applicable interest; however, when a mortgage borrower fails to keep up with payments, the lender may attempt to repossess the home with the intent of resale, otherwise known as foreclosure. The proceeds of the sale of the foreclosed home are used to cover the remaining amount owed to the lender and any legal fees incurred by the foreclosure process. Foreclosed homes often sell at prices under market value, especially if the home was foreclosed after the lender had received a majority of the mortgage payments. Foreclosure auctions are fairly common and often feature starting prices equivalent to the remaining mortgage balance. In some cases, the mortgage balance can be higher than the value of the home itself, in which case the lender will typically utilize the standard real estate market to sell the home. Foreclosures can sometimes become profitable for lenders, so the chances of a lender noticing a lapse in payment are quite high. If you find yourself at risk, you may wish to seek foreclosure help as soon as possible.
If you have fallen upon hard times and are now facing foreclosure, not all hope is lost. A certified foreclosure attorney can help you get your life back to normal. Homeowners must be notified of any legal action taken and must respond within 20 days. If you, as a homeowner and borrower, do not responded in the allotted 20 days, your case is automatically considered forfeit, thus ending the case and finalizing the foreclosure of your home. False foreclosure notices are not unheard of and can be easily defended by an attorney if you have truly kept up with payments. In every other foreclosure case, your response is the beginning of the foreclosure process. Many borrowers that face foreclosure are hesitant to respond after receiving notice – and for good reason. Foreclosure law can be very complex and requires a significant amount of experience to fully comprehend in order to defend your home. Because it is very likely that the lender seeking foreclosure is well represented legally, it is very rarely recommended for lender to represent him or herself in court. It is certainly possible to win your case with the assistance from a certified attorney who possesses experience in foreclosure help.
If you have any questions about foreclosure help, please contact North Tampa Law Group at (813) 518-7411 or complete a free online case evaluation. We represent clients during stressful and difficult times in their lives. We are empathetic, responsive, and push for a quick resolution. We look forward to helping you resolve your issue quickly, fairly, and in a way that will help you to return to the stable, predictable life that you deserve.