When you buy a new home you invest a major part of your savings into it. The last thing you would ever expect is to be facing a foreclosure. But sometimes the situation cannot be avoided. So what is foreclosure?
More about Foreclosure
A foreclosure is a legal process through which the lenders forfeit the homeowners’ rights to that property that is used by the borrower as collateral against a loan. This is because the homeowner cannot afford to repay the outstanding amount of a mortgage. It is a challenging, overwhelming and emotional experience for the homeowner. But the borrower needs to act fast because delayed action can lead to more damage. If you live in the Jacksonville area, it is important to approach a foreclosure defense lawyer in Jacksonville.
Stages of Foreclosure
Foreclosure occurs in a series of steps. When the homeowner fails to pay the lender due to some hardship he or she faces, the lender initiates contact to enquire about the reason for nonpayment. The lender sends the borrower a default notice for nonpayment of the loan. During this stage, if the borrower manages to pay the outstanding amount, the foreclosure ends there. If he or she does not pay, then the lender contacts an attorney who files a foreclosure complaint. The property is appraised and valued. The property is then auctioned and sold to the highest bidder. A foreclosure defense lawyer in Jacksonville can help in this situation.
Foreclosure Defense Attorney
A foreclosure defense attorney can review your case and help you figure out how to proceed. They can also negotiate with your lender. The key here is to get legal help from your foreclosure defense lawyer in Jacksonville at the earliest opportunity. An attorney will also talk to your lender and try to find an amicable solution to avoid foreclosure.
If you live in Jacksonville or Florida and you need the services of a foreclosure attorney, get in touch with a Robert Peters Attorney, foreclosure defense lawyer in Jacksonville at 904-421-6907 for a free evaluation of your foreclosure lawsuit. Robert can advise you and provide the best solution to your specific situation. Always remember that the earlier you seek legal advice from an attorney, the better prepared he or she will be to help you through the foreclosure process. Doing nothing could result in losing your property and not being able to fight the foreclosure.
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