One of the scariest documents that a homeowner can receive is a notice of intent to accelerate foreclosure. While this document does notify the homeowner of the mortgage companies intentions, it does not specify when the home will actually be foreclosed on. While many people consider this notice to be simply a scare tactic, failure to bring the account current after receiving this notice will result in a Notice of Default, and eventually foreclosure. If you have received a notice of intent to accelerate foreclosure, here is what you need to do…
Contact a foreclosure defense attorney that can help you develop a strategy to prevent the process from moving forward through completion of a trustee sale. We know just how hard it can be to catch up on your home loan once the mortgage company refuses to accept incomplete payments. Even after missing just one payment, most mortgage companies will add on additional penalties and fees, drastically increasing the amount you owe. If you miss one month, it’s not as simple as doubling the next payment to get caught back up.
Most mortgage companies will act like they are willing to help you through financial hardship, and they will even often to consider a loan modification. This tactic is only meant to delay you from taking legal action when you should – by making you think that they are going to help you stop the foreclosure process. While a Notice of Intent to Accelerate does not start the foreclosure process officially, this is the best time for you to speak with one of our foreclosure attorneys before it’s too late.
Can the Foreclosure Process be Stopped?
We aren’t going to make you read the whole paragraph for the answer: Maybe. Each circumstance is different, and since the Notice of Intent to Accelerate Foreclosure is not a required document, it may arrive at different stages of the process. Our firm works with each prospective client individually to determine what options are available in their situation, and then decide which makes the most sense for their situation.
To answer the question of “Can the Foreclosure Process be Stopped” again, the answer is: Probably. Our firm has an incredible track record of preventing foreclosure, and winning mortgage litigation cases for our clients. While goals vary based on the client and situation, many settlement offers from lenders include loan modifications and even principal balance reductions.
What You Do Next Could Determine What Happens to Your Home
It’s never too early to consult with our foreclosure lawyers about your notice of Intent to foreclose document. The more time that you can provide our foreclosure defense attorneys, the more legal options will be available to you, since certain options require a longer timeline than others. Our foreclosure attorney are well equipped to handle your case, so call us today for a free consultation to get started.