How to Avoid Foreclosure in Oakdale MN

When you become a homeowner, you are so proud of your accomplishment and do all you can to be able to keep your home. Unfortunately, events can happen in your life that make it difficult, if not impossible, to pay your mortgage payments. When you get behind on your payments, you quickly find the banks are mostly unwilling to work with you and begin pushing the process of Foreclosure in Oakdale MN as quickly as possible. This typically occurs when you are more than three payments behind. Though the laws are very clear that the bank has the right to take your home, there are laws that can help you as well. Visit website for more information.

What Can You Do to Avoid Foreclosure in Oakdale MN?

The process of foreclosure takes a couple of months to be accomplished. If you feel you are headed towards foreclosure, it is in your best interest to seek help from an attorney as soon as possible. Once you have hired an attorney, the bank must work through your attorney instead of contacting you directly. An attorney can often encourage a mortgage company to work out payment arrangements, rework your current payments and even put your past due payments at the end of your loan term. Though not always possible, many attorneys are able to assist their clients in making arrangements they themselves could not.

If your home has not gone into foreclosure, but you are well behind on your payments, you may want to consider filing for bankruptcy. This allows you the full term of your bankruptcy to be able to catch up any payments you are behind on. You will also be required to pay your regular payments and keep them current. During the bankruptcy period, the mortgage company is not allowed to pursue you in any way for your payments. If at the end of your bankruptcy term you are caught up and current on your payments, you will be able to avoid foreclosure action.

If you are facing losing your home, an attorney can help. Contact the Lamey Law Firm and allow them to see what they can do to help you avoid foreclosure, so you can keep your home.

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