If you’ve been served with a foreclosure notice in Florida, don’t consider it the end of the road. Instead, look at it as a fork. There are several options to consider for moving forward, even if the bank insists that foreclosure is a foregone conclusion.
Here are three foreclosure defense services you can leverage to change the course of your foreclosure proceedings:
Refinance Your Home
If your foreclosure proceedings are due to past financial issues that you are currently able to mitigate, you could be eligible to refinance your home and stop the foreclosure process.
If you’re currently engaged in stable employment, and you’ve paid a high enough amount of your mortgage before foreclosure proceedings began, you could potentially stop foreclosure entirely.
File for Bankruptcy
Work out a plan with legal representation and your mortgage lender to explore filing for bankruptcy. This immediately slows foreclosure proceedings, entitling homeowners to continue living in their home until the bankruptcy court completes its findings and rules that the foreclosure can proceed.
Depending on your financial situation, you’ll file for either a Chapter 7 or a Chapter 13 bankruptcy. Many Florida homeowners in lower-income brackets benefit from Chapter 7, while those that can afford a Chapter 13 payment plan will likely be advised to opt for that filing.
Apply for Loan Modification
If you feel you can prove a hardship, after consulting with legal representation, you may able to successfully apply for a loan modification. You’ll change your lending terms, allowing you to stay in your home for as long as you keep up with the new requirements.
For a free consultation on these foreclosure defense services and how they might apply to your unique situation, contact us today for a consultation.