Whether it's your home or a rental property, the news that the bank intends to foreclose is never welcome. And when you're faced with a Foreclosure Notice, knowing your rights and the options available to you is critical. Each state has its own laws governing how foreclosure can occur. In addition, the documents and contracts you signed when you entered into the loan will also have a significant bearing on your options.
You may also have heard about banks cutting corners in the foreclosure process, doing a very poor job of actually following state law, and in some cases even fabricating foreclosure documents. To the bank, you're one of thousands of borrowers in their system and paying attention to the details doesn't necessarily fit in their busy schedule. But to you, this is more than a big deal and it deserves more than just a cursory review of the documents the bank asked you to submit (usually multiple times because the bank lost them).
There are several methods to halt and even prevent foreclosure. But because of the timeframes imposed by most state laws, you don't have time to wait. If you've received a foreclosure notice and want to keep your home, you need legal help immediately. Nielsen Law Group has successfully stopped foreclosures for several of its clients and has also resolved numerous situations arising from Foreclosure in the process.
In the end analysis, you may or may not decide to keep the property but it should be your choice and you should have the time to make it without being pressured to address everything within 60 or 90 days. Nielsen Law Group can help you assess your rights and options, then help you chart a course to potentially keep your property and restructure the loan, eliminate some of the debt on the property, or liquidate the property on your terms, whichever makes the most sense for you.