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Need help with your home’s pending foreclosure?

If you find yourself in the middle of a financial crisis, chances are that you feel like your world is falling apart. I know what it’s like for the bailiff to ring the doorbell and hand you the papers. When you are facing foreclosure on your home, getting the mail out of the mailbox can be a terrifying experience. I needed help dealing with a foreclosure on my home and so did you.

First, let me tell you in advance that I am not an attorney and cannot provide you with any legal advice. If you can afford an attorney, I encourage you to hire one. He couldn’t afford a lawyer when he was going through financial difficulties. I had the $ 1,600 fee that the attorney required to help me. However, he was very afraid to give up that amount of money. My thinking was, “If I’m going to lose the house, why give up $ 1,600 that I could use for other expenses?”

However, I was able to find an attorney who was willing to consult for free. He was like an angel because when I walked out of his office, I felt like a ton of bricks had been removed from my shoulders. He took an hour of his time to explain what the bankruptcy process is like. Visiting your office was one of the best decisions I made when faced with my financial crisis. I slept well for the first time in a long time.

I recommend that if you can find an attorney who is willing to consult with you for free, go to their office as soon as possible. Find out where you are in the legal process and get instructions from the attorney regarding your options. Lawyers often get a bad rap based on the unethical behavior of a small minority of lawyers. Find the right one and you will feel more confident in avoiding foreclosure on your home.

Now, if you have considered hiring an attorney but have decided not to, you still have options. I was able to modify my loan and my interest rate dropped to 2%. The bank was also able to reinvest my late mortgage payments and canceled my taxes and insurance for the year. I am grateful that the bank was willing to work with me to keep our family at home.

I realize that your situation could be totally different from mine. However, if someone told me that my bank would be willing to lower my interest rate and catch up on all my late payments, I would have said they were crazy.

Consider trying to get your bank to work with you. If they can, they most likely will. It is not convenient for them to throw him out of his house. They really do not want to proceed with a foreclosure of their home. It is not because they care about you, although it is possible. It’s because it doesn’t make financial sense for them unless you have a ton of equity in your home. I am convinced that banks do not decide foreclosures based on your home’s equity. If that was the case, my house would have been foreclosed.

As I mentioned earlier, you have steps you can take to avoid losing your home. The only thing you can’t afford to do is “do nothing.” If you ignore the financial obstacles in your life, they will eventually overwhelm you and bring you down for good.

I don’t want you to lose your home and I know you don’t want to either. I can’t promise you that things will work out, but I can assure you that if you’ve done your best, you won’t regret it. You don’t want to punish yourself 5 years from now because you didn’t act promptly and prudently.

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