Kingcade Garcia McMaken
Set Up a FREE In-Office Consultation
305-285-9100
Open Every Saturday Morning 8 AM to 11 AM.

What steps can you take to reduce the chances of foreclosure?

If you are a Florida resident who has concerns about potentially losing your home, you are not alone. Unfortunately, many people across the state and nation struggle to stay afloat as far as their mortgage payments, and if you count yourself among them, you probably know all too well just how unnerving this can be. There are, however, some preemptive steps you can take to lessen the chance of experiencing foreclosure.

According to This Old House, one of the first things you should consider doing if you are fearful about losing your home is make a call to your lender. In some cases, your lender may be willing to work with you to help you keep your house, but you will certainly never know if you do not ask. Your chances of getting your lender to work with you or hold off on foreclosing on your home tend to improve when you have strong credit, however, so it is important that you get in touch before your credit takes a dive.

Another step you can take to help fight foreclosure involves finding out whether you might be eligible for any special assistance. If you are a past or current member of the U.S. Armed Forces, for example, you may be eligible for foreclosure protection under the terms of the Servicemembers Civil Relief Act. Meanwhile, if you have a good credit score and an adjustable-rate mortgage, you may be able to utilize federal programs that can help you switch from an adjustable-rate mortgage to a fixed-rate one.

While these are some of the preemptive steps you can take to fight foreclosure, please note that this is not an exhaustive list of all possible options. The quicker you address your problem, however, the more likely you are to find a solution that meets your needs.

This information is educational in nature and not a replacement for legal advice.

No Comments

Leave a comment
Comment Information

Set Up A Free, In-Office Consultation

Open Every Saturday Morning 8 AM to 11 AM.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

EMAIL US FOR A RESPONSE

Firm Location

Kingcade Garcia McMaken
1370 CORAL WAY
Miami, FL 33145

Miami Law Office

Firm Number Phone: 305-285-9100
Review Us