When a job is lost, or a financial travesty occurs, it can leave a family feeling hopeless and unable to make ends meet. Situations such as this can make paying a mortgage next to impossible. While some mortgage companies will work with families who need short term help, there are many times when a financial issue lasts for multiple months. Not making a mortgage payment can cause a bank to foreclose on the property and leave a family without a home. This can be a terrifying situation that seems impossible to overcome. While each situation is different, there are actions a homeowner can take to help Stop Foreclosure St. Louis.
Negotiate With the Mortgage Company
Some mortgage companies will work with a family to help keep them in their home. Ask about payment forgiveness options, or if they offer the ability to freeze payments for a set amount of time. This can help a family establish financial stability without fear of losing their home. Not all mortgage companies offer this type of assistance, and those who do may require a lengthy application process.
One of the best ways to solve a financial debacle is to apply for a personal loan that will cover expenses for a short amount of time. It may be difficult to utilize this option, as individuals who are attempting to Stop Foreclosure In St. Louis may have a poor credit rating. Shop around with a variety of lending institutions and find those that provide loan options to individuals with less than perfect credit.
If the first two options are not feasible, then it may be time to hire an attorney. They will be able to evaluate the details surrounding the situation and petition to a mortgage company to freeze payments for a set amount of time. They can also represent individuals who are filing for bankruptcy and help them keep their home even though the rest of their debts are being forgiven.
Foreclosure is scary, but an attorney can help by navigating the waters of both bankruptcy and foreclosure prevention. The Law Offices of Steven K. Brown can help anyone negotiate with a mortgage company and will fight to help a family keep their home. Browse website today and learn more about the services they offer. No matter how large a mortgage may be, they will have the knowledge to protect the homeowner from losing it.