Cedar Rapids Foreclosure Defense Attorney
Currently, according to Zillow, the owners of almost 319 homes are in danger of losing their homes. Many have failed to avoid Cedar Rapids foreclosure. Foreclosure doesn’t arrive unannounced like a baby on the doorstep. There are ripples of approaching trouble for which you may need a Cedar Rapids foreclosure defense attorney.
- You have painted yourself into the corner with debt and are having difficulty making the mortgage payments promptly.
- Your savings for emergencies are as brittle as an emerald.
- The velvet crush of credit cards gets you to the next pay day.
- Each month only the minimum is paid on the credit cards.
- Finally, doctor and dental visits are a thing of the past.
If the dead fish of your finances is starting to smell, and yet you are not doing anything about it, you are ignoring the problem.
Know the process of foreclosure –
In Iowa the foreclosure process is a relatively quick process, taking only a couple of months. If you miss a mortgage payment, there is a grace period, but an applied late fee will result. If you miss a few mortgage payments, your mortgage servicer will probably send a letter or two reminding you to get caught up, as well as call you to try to collect the payments.
Don’t ignore the phone calls and letters –
This is a good opportunity to discuss loss mitigation options and attempt to work out an agreement (such as a loan modification, forbearance, or payment plan) so you can avoid foreclosure.
If you do nothing, after the mortgage servicer has waited until you are 120 days delinquent on payments, the mortgage servicer can file first official notice or filing for any judicial or non-judicial foreclosure. Time enough to explore your options.
Next, comes the breach letter and you have 30 days from the letter to cure the breach of payment. Failure to cure the default on or before the date specified in the notice may result in the acceleration of the debt and sale of the property. You need to find a good Cedar Rapids foreclosure defense attorney
Do not ignore your mail
– When you ignore the problem or hide from your mail, you will miss a letter from the lender called “the first a notice of default,” which is a letter telling you that you have missed some mortgage payments. Many have been in your shoes. The first thing they did when the mail came was to throw the bills in a box. The first envelopes will contain helpful suggestions to get things under control. Then will come legal action. Ignoring these notices can cause you to lose everything.
Know your rights –
You can participate in pre-foreclosure mediation with your lender to discuss options to avoid foreclosure. Also, once the foreclosure has started, you have the right to cure the mortgage default by paying the past-due amounts, although you must do so within a certain period before the sale. Your Cedar Rapids foreclosure defense attorney can explain all of your options to you.
You can fight the foreclosure by challenging the technical rules, or you can seek bankruptcy. Credit.com says, “A bankruptcy filed before the foreclosure sale will “stay” or temporarily stop a foreclosure…”
Contact professionals
Contact a credit counselor. Sure you will feel like a failure or worse, but take responsibility for your actions. Seek legal advice from a bankruptcy attorney and a Cedar Rapids Foreclosure Defense Attorney. That sounds contrary to taking responsibility, but you need to know your options so you can make informed decisions. If you seek legal advice when breach letter arrives, you may be able to delay or avoid foreclosure.
Harmony Property Solutions, LLC is here to help homeowners out of any distressed situation.
As investors, we are in business to make a modest profit on any deal. However, we can help homeowners out of just about any situation, no matter what! There are no fees, upfront costs, commissions, or anything else. Just the simple, truth about your home and how we pay cash for houses Cedar Rapids.
Harmony Property Solutions, LLC is part of a nationwide group of thousands of investors who are helping tens of thousands of homeowners every year. We may not be the “traditional” route, but we CAN help, and we can do it quickly!
Give us a call today at 319-343-6773 to let us know how we can help YOU.