Pensacola Foreclosures Attorneys

Defending Against Foreclosure Actions

Unexpected situations and expenses, like the loss of a job or steep medical bills, can make it difficult for you to stay on top of your home loan. Although you might try to make the full payment on time, you could fall behind to the point where your lender notifies you that it is taking action to foreclose on your home. The risk of losing your home can be a stressful and overwhelming experience, but you may have options to fight the foreclosure and stay in your home. Defending against a foreclosure can be difficult, but you do not have to take on the challenge alone. You can work with a lawyer who can protect your rights and assist in developing a path forward.

At The Watson Firm, PLLC, we can provide the legal counsel and guidance you need. Our Pensacola foreclosures lawyers have extensive experience and are ready to address your questions and concerns. Delivering personalized attention, we’ll learn about your situation and goals to determine a practical course of action in your case. Whether we must deal with your lender to find a solution or must litigate the matter, we will be your loyal advocate pursuing a fair outcome on your behalf.

To schedule a free consultation with a foreclosure attorney in Pensacola, please contact us at (850) 607-2929.

When Can Your Lender Foreclose on Your Home?

Part of your mortgage packet is a promise to satisfy the loan according to the payment plan. You are required to pay a certain amount each month for a predetermined length of time. You will be in default if you don’t pay the full amount as agreed.

As you start falling behind on your mortgage payments, your lender will contact you to collect on outstanding debts. If you are delinquent for a prolonged period, your lender will send you a notice that they are taking legal action to foreclose on your home. A foreclosure allows your lender to sell your property to collect the balance you owe, which means you could lose your home.

After your lender initiates the foreclosure lawsuit, you have 20 days to respond. Failure to file an answer could result in the court making a default judgment, meaning your lender will have legal permission to hold a foreclosure sale without your having the opportunity to defend against the action.

If you respond to the notice of the foreclosure lawsuit, your case goes to court.

Lenders must follow proper procedures before foreclosing on a home. If you have been notified of possible legal action against you, reach out to our attorneys as soon as possible. We can ensure that your rights are protected and the lender does not engage in unlawful practices.

What Are Possible Defenses Against Foreclosure?

Several avenues may be available to stop a foreclosure temporarily or permanently.

Possible routes to pursue include, but are not limited to:

  • Reinstate the loan: Loan reinstatement means that you pay the total balance owed plus applicable fees in one lump sum. You would no longer be at risk of foreclosure because your loan would not be delinquent anymore. Still, this is not always a viable option, as it requires having a large sum of money.
  • Modify the loan: You could seek to stop a foreclosure by working out an adjusted repayment plan with your lender. For example, your lender might agree to reduce the interest rate, extend the payment period, or reduce the loan principal. These options could lower your monthly amount to something more manageable.
  • File for bankruptcy: When you file for bankruptcy, an automatic stay takes effect. The automatic stay stops lenders from trying to collect on outstanding debts and from initiating foreclosure proceedings. Filing for Chapter 7 bankruptcy may stall foreclosure actions temporarily, giving you time to find a new residence. Filing for Chapter 13 can stop a foreclosure altogether, as it allows you to establish a repayment plan for managing your mortgage installments.

The method used to challenge a foreclosure will depend on your situation. At The Watson Firm, PLLC, our team will assess your financial circumstances and keep your goals in mind as we explore your options.

Contact Our Firm for Foreclosure Defense

Our foreclosures lawyers in Pensacola can pursue solutions to help avoid your losing your home. Detail-oriented, we handle the nuances of your case with care, giving you peace of mind knowing that the matter is in good hands.

We genuinely care about helping those going through difficult times and want to hear from you. Call us at (850) 607-2929 or submit an online contact form.