Foreclosure usually happens when a home owner’s mortgage payment to the lender becomes delinquent or property taxes are owed on the home. When back property taxes are owed it is called a Tax Lien, which in the case a tax sale can be initiated by federal, state or local taxing agencies. In many states, missing just two monthly payments can cause you to be served with a Notice of Default. This means that the lender has started foreclosure proceedings against you, by way of the courts. Any Mortgage and lien holders, who have a vested interest in loans on your property, can foreclose on you. One usually has a minimum of ninety days to choose one of the following options: Pay the missed mortgage payments, work out a payment schedule with the lender, file for bankruptcy, or walk away from the property. In any of these cases it is wise to speak to a lawyer. Doing this ensures you are making the best decision for you, in trying to keep your home. Dealing with a foreclosure can be a frightening and confusing experience. How can anyone handle the overwhelming thought of losing their home? Life can take many unexpected turns, knowing this we believe that everyone deserves a second chance. A chance to keep their home and all of the memories it holds. When this unfortunate event occurs, you need fast, knowledgeable foreclosure attorneys. Attorneys that are willing listen, to you and do everything they can to keep your assets, and primarily your home. |