What to do in a Foreclosure
Cape Coral, Lee County and all of Southwest Florida
What to do in a Foreclosure
Undergoing a foreclosure can be one of the most heartbreaking and uncertain times in your life. Not only are you losing your home, but your credit rating is hurt, your family may be frightened, and your financial situation may be suffering from an illness, injury or job loss. At a time like this, the last thing you need is to have to search for information on what steps to take.
If you are looking at the possibility of a foreclosure, don’t tell yourself, “It will all work out, I’ll just wait.” The longer you wait, the less opportunity you have to save your home from foreclosure. Being prepared is partly about having the right materials, and partly about having the time to plan adequately. While you shouldn’t give up without knowing all your options, you should face the possibility that foreclosure may happen, and know how you might be able to prevent it, and what you will do if you can’t.
Understand Foreclosure Law
The first step you should take is to understand Florida real estate law. At Lusk, Drasites, Tolisano & Smith, P.A., we know that you already have enough to think about without spending hours researching what foreclosure means to you. Our Foreclosure Questions page answers many of the first questions that will come to your mind, and can help you understand why it is important to know what you are up against in a foreclosure.
Clearly Marked Paper Trail
Often a foreclosure hearing will require you to bring certain documents to court with you. Having your documents in one place and well-organized can save you worry and dollars when facing a foreclosure. More is not always better, but having complete records of your mortgage payments and agreements will help your attorney protect you against an unreasonable foreclosure. Meeting with an attorney early on can help you fill in the gaps of information that will need to be filled before your hearing.
Accept a Helping Hand
If your home is foreclosed on, you may just want to get everything over with as quickly as possible. It is important to know rushing through a process you don’t understand could cost you dollars and heartache. If your lender is seeking a foreclosure, their attorneys will represent them at court; specialists with experience seeking foreclosures against home owners. Don’t be lulled into a false sense of complacency by thinking that a lender will be concerned for your welfare or that they will be happy simply to have you out of the home. Often, a lender’s attorney will seek deficiency judgments, forcing you to pay the difference between the auction price and your loan value. Rather than fighting on your own, you deserve to have a team of experienced attorneys defending you against your lender’s lawyers.
If you are facing foreclosure in Cape Coral, Lee County, or anywhere in Southwest Florida, and have questions about the tactics your lender will use, please contact Lusk, Drasites, Tolisano & Smith, P.A., and let experienced foreclosure attorneys fight for you.
