Don’t Wait for a Foreclosure Action to Call an Attorney

Don’t Wait for a Foreclosure Action to Call an Attorney

Don’t Wait for a Foreclosure Action to Call an Attorney

There is no doubt that the COVID-19 pandemic and related economic crisis have caused financial stress for many households, and many homeowners have fallen behind on their mortgage payments. If you know you do not have the money to catch up on payments, you might be tempted to ignore the problem. When you receive notice of default or a foreclosure action being filed, you might then decide to contact an Oviedo and Casselberry foreclosure attorney.

However, it is important to know that you do not have to wait until the foreclosure is in process to call an attorney. The right lawyer can help in many ways before your lender initiates your foreclosure case.

Finding Other Solutions

There are many solutions that might avoid a foreclosure case altogether. First, you might qualify for a relief program or moratorium by the state or federal government. These programs are being extended and changed regularly, so it is wise to discuss these options for possible relief with an attorney who is up to date on current programs.

In addition, your attorney can assess what might help you keep your home and engage in negotiations with your mortgage lender. Some solutions that your lender might agree to include:

  • Mortgage loan modifications, including the rate, payment amount, or other terms
  • Possible forbearance to allow you to catch up with your payment
  • Deed in lieu of foreclosure, which satisfies your loan without a court case
  • Short sale, which allows you to sell your property for less than the loan’s value to satisfy your loan

Any of these can help you avoid foreclosure, and some solutions can allow you to keep your home whenever possible.

Contact a Casselberry and Oviedo Foreclosure Defense Lawyer

At Quattrochi & Torres, our Casselberry and Oviedo real estate attorneys can help homeowners find alternatives to foreclosure whenever possible. Contact us online or call 407.452.4918 for help today.