Many people who experience financial difficulties run the risk of being evicted from their own homes, which is all the more reason you should get in touch with a qualified foreclosure lawyer Fort Worth, Texas residents recommend. If you’re facing foreclosure, it’s completely normal to feel afraid, frustrated, and overwhelmed. Fortunately, the legal professionals at Leinart Law Firm can help you navigate the foreclosure process with minimal loss.
But what does foreclosure mean for you and your family, and what’s the worst that can happen? Read on to learn more about what Leinart Law Firm can do for you, and get a better understanding of how a foreclosure can impact your life.
The Real Impact of Foreclosure
When people hear “foreclosure,” they immediately think that they have to pack their bags and get out of their house. However, foreclosure can mean much more – or less, depending on the situation. If you’re dealing with foreclosure, there’s the very real risk of eviction, but there’s also the very real risk of severely damaged credit, not to mention the embarrassment and social stigma that comes with foreclosure.
Unfortunately, foreclosure can be somewhat unpredictable. Every case is different, and if it comes to eviction, sometimes there’s no telling WHEN you’ll be forced out of your home. It could be tomorrow, or it could be in a month. Whatever the case, a foreclosure means stress, and that stress can weigh on you unless you get in touch with the right legal team.
How Can a Foreclosure Lawyer Help Me?
A foreclosure has the potential to flip your life upside down, and it’s hard to get back on top. You may feel completely at a loss, but you should never accept a foreclosure without learning all you can about it, and seeing how a foreclosure lawyer can help. When you contact a Fort Worth foreclosure lawyer, you’re getting a valuable and dedicated resource that can help you during a very challenging time in your life.
You may actually have a very good reason to contest your foreclosure, and there’s a chance that your foreclosure notice was completely accidental. Fortunately, there are proper steps you can take to contest your foreclosure, and a foreclosure lawyer will know the process inside and out. Your foreclosure lawyer will analyze your case and uncover any mistakes in the foreclosure process. These mistakes may mean the difference between being evicted and keeping your home.
Get in Touch with Leinart Law Firm Today
At Leinart Law Firm, we understand a foreclosure means trouble. But we also understand there are ways you can fight back against your foreclosure and hold onto your home. You shouldn’t give up as soon as you get your foreclosure notice. You can avoid the pain and suffering of your foreclosure with just a bit of legal input and guidance. Instead of giving up, you should reach out to Leinart Law Firm and see how we can help you fight back.
It’s never too late to reach out and connect with a foreclosure lawyer that Fort Worth trusts – contact us today.
Taking Control of Foreclosure Proceedings
Buying a home is a true right of passage that many people dream of, but it’s possible for people to find themselves in over their heads, and working with a foreclosure lawyer Fort Worth, TX residents depend on may be an imperative component to understanding the available options. Purchasing a home is a truly exciting experience, and chances are, they never intended to fall behind on their payments. There are several reasons people may default on their mortgage; when they purchase a home they could not afford or experience unexpected life changes, being unable to make payments can be incredibly stressful and shameful. It can be challenging to know what to do next, and it can be easy to avoid the process altogether. Receiving notice that the foreclosure process has been initiated, there will be many unknowns. Moving forward will require the experienced team from Leinart Law Firm to ensure that rights are protected, and available options can be realized.
Texas Foreclosure Process
Chances are, if you purchased a home, you have a mortgage to go along with it. When making such a significant life commitment, home purchases enter into a contractual agreement by signing a promissory note with the lender, agreeing to make payments on time. If a person defaults on their loan payments, the lender has the power to recoup the money they have allowed the home purchaser to borrow. Making a late payment or missing a payment doesn’t mean the home buyer will automatically lose their home. A Fort Worth foreclosure lawyer will share that there is typically a grace period allowing homeowners to make the payment, or if they are behind by a few months, they can settle up and become current on their payments. However, when a homeowner does not make their payments, the lender will start by sending letters in an attempt to collect payment. After a missed payment, the lender is required to send a letter to the borrower outlining their options. Foreclosure proceedings start when a borrower fails to make payments for 120 days. Three notices will be sent out to the borrower:
- Notice of Default
- Intent to Accelerate
- Notice of Sale
If the borrower does not respond to these notices and pay back the entire balance of the loan, the lender will file the notice of sale with the county clerk and request permission from the court to proceed with foreclosure proceedings. When the home is available for sale, it is open to the public, and anyone can make a bid on the property.
Receiving a foreclosure notice can feel like there is no way out or other option for rectifying the situation. It is possible to stop foreclosure in Texas, but borrowers can’t endure this process alone. They will need help from a professional who has intimate knowledge of proceedings. Because the bank cannot pursue foreclosure without approval from the court, it may be possible to slow down the process by filing a lawsuit. The first decision is to determine whether you want to keep your home. If you do, legal proceedings may be appropriate. However, for some who cannot become current on their mortgage, bankruptcy can be a way to stop proceedings through the automatic stay, where creditors must stop their efforts to collect debts. It’s essential to be aware that this is not a permanent solution, and borrowers must carefully assess their situation with a legal professional to determine whether bankruptcy is the best option and the type of chapter to file for.
Learn more about our services at Leinart Law Firm by speaking with our Fort Worth foreclosure lawyer.