When houses go into foreclosure, many homeowners in Colorado would simply accept their fate and move on. If you find yourself in this situation, you shouldn’t raise the white flag and give up on your home easily. Even if you’re at fault for not making your repayments, you defaulting doesn’t necessarily erase your right to live in your property.
Obviously, an ideal way to settle this is to be current with your payments. If you don’t have the money, you could talk to your mortgage provider and make an agreement to help you settle your past due balance. But if your lender doesn’t want to play ball, you should speak with an experienced real estate attorney in Denver, CO or other cities for advice.
This way, you would learn you have many legal options to save the roof above your head — and your face — including the following:
The Bankruptcy Card
One of the most popular ways to stop a foreclosure is by filing a Chapter 13 bankruptcy. This bankruptcy would let you keep your home and make a reasonable payment arrangement to cover your unpaid amounts up to five years.
The court would help reorganize your finances to help you get back on your feet and stop your creditors from their collection activities in the meantime.
No Notice Defense
If you didn’t get your notice, then you may have a strong case to stop the foreclosure temporarily because it’s a requirement by law. Whether you receive a notice or not, tell your story to your attorney to know the best course of action to take.
Real estate attorneys are always updated in foreclosure laws, and they’d know immediately which part of the process wasn’t done properly.
Wrong Debt Argument
If you feel the debt your plaintiff claims you have is wrong, you could challenge the foreclosure. As unpaid mortgage repayment is the roof of foreclosure, proving that the said amount is inaccurate could change the complexion of the case.
If you have all a complete payment record to back your claim, your attorney can mount a solid defense.
Foreclosures may seem a serious legal matter, but they’re nonetheless beatable. The key is to seek advice from an experienced lawyer right away to discuss the best options you have.