What to do When You are Served with Foreclosure Papers
You need to act quickly. You will only have 20 calendar days to file a written response with the court. If you fail to file a response a default can be entered against you, which will make it a lot easier and quicker for the lender to sell your home at the court house steps.
The best course of action is to take the papers to a lawyer who can review them and advise you regarding your next step. There may be defenses you can raise or procedural defects in the way the lawsuit was filed. If you do not raise these issues in your initial written response to the court you will probably waive the right to address them later. A lawyer can file the necessary response for you and monitor your case to make sure the lender is handling it as the law requires. If a response is filed by a lawyer, your foreclosure case will often take much longer to end and gives you the ability to make informed decisions and give you:
Each of these options has legal, financial and other ramifications to your future that you need to understand. It may be in your best interest to consult an attorney before you try to enter into any agreement with your lender, especially if you are not used to negotiating deals or reviewing or drafting real estate agreements. I have personally handled hundreds of foreclosure cases.
Put my experience to work for you by contacting my office to set up a free appointment.
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