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Foreclosure Lawyer Clearwater, FL

Foreclosure Lawyer Clearwater, FLBeing unable to pay your mortgage and facing possible foreclosure may call for the help of a foreclosure lawyer Clearwater, FL, can depend on. The prospect of losing your home can be terrifying, and those who are struggling to make ends meet may be experiencing a rollercoaster of emotions, shame, fear, and disappointment. It’s only natural that during the process, you will be left with several questions over what to do next and how best to manage the situation you have found yourself in. We know that you will have questions, which is why contacting Carolyn Secor, P.A. for a consultation should be one of your top priorities.

What is the foreclosure process? 

According to federal law, a lender can not initiate foreclosure proceedings against the borrower until the mortgage has been delinquent for at least 180 days. However, it is the lender’s responsibility to contact the borrower 36 days after the missed payment to discuss alternative options to ensure the borrower can remain current on the account. Your lender is also likely to send you a letter informing you that you are behind on your payments. Florida is one of the few states where lenders must take legal action to proceed with foreclosures. The borrower will then have 20 days to respond to the court notice. During the legal process, the lender will ask the judge to grant a motion in favor of the lender, allowing them to foreclose on the home and put it up for sale. 

Is there a way to prevent foreclosure from happening so that I can remain in my home?

When a person wants to prevent the loss of their home, it’s imperative to consult with our Clearwater, Florida foreclosure lawyer. If you are delinquent in making your payments, you may likely be struggling with debt, and our team can assist with getting you back on track. There are a few options to avoid foreclosure, but bear in mind that not all of them will allow you to stay in your home; they include: 

  • Filing for bankruptcy
  • Selling your home and paying off the mortgage
  • Considering a loan modification
  • Seeking assistance from a debt consolidation firm

What is an automatic stay?

Once a person files for bankruptcy, they are granted what is known as an automatic stay. The automatic stay protects debtors from further actions that creditors could take. Meaning, creditors are no longer able to make attempts to collect a debt or engage in the process of foreclosure.  

What happens to the foreclosure if I file for bankruptcy?

Much of the time, it’s in your best interest to file for bankruptcy before foreclosure. Once you file for bankruptcy, the automatic stay is granted, and foreclosure actions must come to a halt. If you want to keep your home, are behind on your payments, and are struggling to catch up, bankruptcy may be the right option. Determining the right chapter to file will be critical but know that typically Chapter 13 bankruptcy is the most common way to retain your home. However, to do so, debtors must have a consistent income that qualifies for the wage earner’s plan. 

What Not to Do When Dealing with Foreclosure

Make Payments to Outside Parties

When dealing with forclosure, you may be contacted by foreclosure rescue companies that will promise to remedy the entire situation if you make a mortgage payment to them instead of your mortgage servicer. This is never a good idea; some of these predatory companies may take the payments and cease contact without doing anything to stop the foreclosure process, which will only put you further behind and increase your chances of losing your home. You should only be making mortgage payments to your servicer, so be aware of who you’re sending money to during this time. If you’re receiving constant harassment from predatory companies, let your foreclosure lawyer in Clearwater, FL, know.

Ignore Communication Attempts

You will likely receive letters and phone calls from your mortgage servicer throughout the entire foreclosure process, and it’s important not to ignore any of them. Your servicer will likely want to discuss your options and help you make the best possible decision in the end. Likewise, don’t ignore any correspondance from the court or your foreclosure trustee — any letters or documents you receive from these sources will contain important dates and information about your rights as a homeowner. Keep any of the documents you receive and make copies for your foreclosure lawyer in Clearwater, FL.

Procrastinate

As soon as you know you’re dealing with a foreclosure, do not wait to take any action. Many people make the mistake of procrastinating until the last minute to make any attempts to save their homes, at which point the damage is usually done. If you start making decisions and working with the professionals at Carolyn Secor, PA, early on, you stand a much greater chance of having more options or stopping the foreclosure altogether.

Abandon the House

Your first reaction when facing foreclosure may be to pack up and move before the phone calls and letters even start. The fact of the matter is, you may still be eligible for foreclosure assistance from Carolyn Secor, PA, if you’re still living in the house. What’s more, you may miss out on the chance to live in your home for free during the foreclosure. If you want to take advantage of the few benefits you may still have during this time, don’t be too eager to get out of the house right away. Talk to your foreclosure lawyer in Clearwater, FL, before making any drastic decisions and find out when the best time to move would be.

Handling a Foreclosure Notice

Receiving a foreclosure notice is devastating. Many people do not know that options are available to keep them in their homes. Knowing how to access these options is the key to keeping your property. Contacting the bank is a good start, but even when the bank can violate specific state and federal laws pertaining to foreclosure. You may be unfamiliar with such statutes, and contacting a foreclosure lawyer in Clearwater, FL is an option you should consider.

Carolyn Secor, PA has over 20 years of experience with foreclosure law and is an attorney you can trust to help with your legal proceedings. Here are just a few things you should not do if you have received a notice of foreclosure.

Receive Bad Advice

Family, friends, and coworkers who have been through a similar situation mean well when giving you financial advice, but it is up to you to ensure that you have good representation when trying to stay in your home.

Do Not Procrastinate

Financial pressures can leave you under a heap of stress. Such times can make you put off dealing with a foreclosure because you believe you have time. It is not wise to wait on the smoke to clear. The sooner you act, the better off you will be in the long run. If you have received a foreclosure notice and would like to know your options, contact Carolyn Secor, PA, a foreclosure lawyer in Clearwater, FL for a consultation.

Do Not Overlook Calls From Your Bank

When you are burdened with trying to figure out what to do about your home, ignoring calls from your bank can hurt you. There may be other options available to help you avoid losing your home. If you are uncomfortable talking with representatives from the bank, a foreclosure lawyer in Clearwater, FL can help provide the clarity you need to make a sound decision.

Do Not Abandon Your Property

Do not move out before the foreclosure process ends if you intend to keep your home. You can stay in your home for free during proceedings, and you will also need to be in the house to qualify for financial help.

If you have received a notice of foreclosure and need help with figuring out your options, contact Carolyn Secor, PA, a foreclosure lawyer in Clearwater, FL for a consultation today. The sooner you start, the quicker you can resolve the matter and potentially keep your home.

 Carolyn Secor, P.A. knows that each one of our clients has needs that may differ from the last, which is why we work tirelessly to listen to our clients and their needs. We want to assist our clients in strategizing the next steps in their best interest, customized to meet their needs. Get started by contacting our Clearwater, Florida foreclosure lawyer.