Life, unfortunately isn’t always full of brightly colored rainbows and delicate butterflies and we might end up finding ourselves in a position where we are unable to pay our mortgage and fear the potential of facing the Foreclosure process. While it is believed that this process comes and goes with no possible way out you often don’t think that you will need any legal help, however, that isn’t necessarily the case. By using an experienced team of lawyers you will be able to look into multiple difference options that are available to you as well as discuss in detail and ultimately decide which option is the best fit for you and your family. Mortgage Mediation, Mortgage Modification, Short Sales and even Bankruptcy are all options when you are facing a Foreclosure.
Fighting battles alone can often lead to success, although the chances may be slim, but when you have people fighting along side you, you have a better chance of winning. The main thing to understand is that your options are not limited. As individuals, we are scared of the notices we may see being plastered to the front door of our home, however, one thing to cling to is that many of these notices are simply scare tactics and aren’t legally able to advance the process whatsoever. By hiring the right team to support you, you will be able to fully understand what notices to look for, what notices are just scaring tactics, and what each notice means and how to proceed. Don’t let the multiple notices on your door fool you and discuss each notice with a professional so you are fully knowledgeable and aware of how the processing is accelerating and at what speed.
There are three different notices that will be posted that you will need to keep an eye out for:
Notice of Pre-Foreclosure Options, Notice of Default, and finally, Notice of Trustee Sale. Notices with any other titles will not hold a legal merit and will likely be there as an attempt to make the process go faster by your foreseeable forfeit of your home. To ensure you stay ahead of the game, contact legal professionals before these notices are posted when and if at all possible. You will be aware if your mortgage payments haven’t been made so contacting a legal team before the process starts will allow you to have more time to discuss the processes and ask questions so that you don’t feel rushed once the ball starts to roll.
[Related Post: The Difference Between Selling to an Investor VS. with an Agent]
Not only will you be able to ask questions, get answers and have a team fighting for you but you will also get the best representation during your Foreclosure. Stay on top of the game and be ready to catch the curve balls that are thrown your way. Facing Foreclosure is not the end and it is most certainly not the only way to resolve the problems you are facing. If you are in Seattle, Bellevue, Tacoma, Everett, King County, Snohomish County or Western Washington, click here to get in contact with the lawyers that are standing by to assist you.
Having a great team behind you is important if you are planning on avoiding a foreclosure but there may be other options. Having an investor buy your home outright may also be a viable option. – Thank you to Peter Westbrook REI for our guest post this week. Peter buys properties as-is in any condition throughout northern California.