Foreclosure doesn’t usually come as a big surprise to homeowners. You’ll probably know well before it happens that you’re going to have trouble making your mortgage payments. Maybe you’ve become unemployed or face unexpected medical bills, or maybe that adjustable-rate mortgage you took out a few years ago is scheduled to reset at a much higher rate, making payments out of reach.
Once you do fall behind, you’ll have a few months before your lender even starts the foreclosure process thanks to new federal mortgage servicing rules. The fact that foreclosure is a process – sometimes a long one – is good news for you. You don’t need to panic. You’ll have time to plan, negotiate, and evaluate your options – if you act as soon as you smell trouble coming. The more time you have, the better. That is when you need to call me at (571) 327-8702