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6 SIMPLE DIGITAL MARKETING TIPS FOR BEGINNERS
6 SIMPLE DIGITAL MARKETING TIPS FOR BEGINNERS The digital world is a crowded arena. Competition is more fierce than ever as businesses of all shapes
If you’re in the midst of foreclosure, you might be wondering if back paying your past due amount is an option. In most cases, it is possible for you to pay off any past owing amount and to stop the foreclosure process. While your lender may have late fees that could increase the amount that you owe, if you can, paying back the past due amount on your mortgage may be a good option if you’re looking to avoid foreclosure.
Read on below to find out everything you’ll need to know about repaying your loan in order to stop foreclosure.
When you take out a home loan, your house is held by your lender as security. This means that your lender can repossess and sell the house if you fail to make repayments according to your loan contract. Foreclosure refers to the process when a lender takes possession of a property and sells after the homeowner fails to make their mortgage repayments.
Generally, the stages of foreclosure may involve sending a default notice, sending a summons, and then getting a court order. Sending a summons means that you usually will have a notice sent explaining that you have at least 30 days to pay back your missed repayments, plus the regular repayment on your loan.
In the case of a summons, your lender may serve you with a Statement of Claim or a summons. If you receive a summons, you may be given a certain number of days to either file a defence or go to court. If you don’t respond to this notice, your lender may then begin legal action to foreclose on your home.
Finally, if your lender is granted a court order to repossess your home, you may receive a Notice to Vacate. In some cases, foreclosed properties are either sold at an auction, or sold directly by the lender.
It may be possible for you fully back pay any owing amounts of outstanding debt and stop the foreclosure process from happening, depending on where you are at in the stages of foreclosure.
Generally, you can repay the total amount of repayments owing in one go instead of making instalments over a period of weeks or months, which may help to halt the foreclosure process.
Depending on your lender, you may find that you have fees for any overdue repayments. Some lenders will have late fees, where some may not. However, is usually possible to stop the foreclosure process once it has begun, and J Daniels & Associates can help you to navigate the foreclosure stages with ease.
J Daniels & Associates has more than 40 years’ experience and has helped 1,000’s of people successfully.
We advocate on our clients’ behalf with banks and creditors to stop home repossession, as well as helping to stop those in bankruptcy situations from being harassed by creditors. You shouldn’t have to live in constant fear, and that’s where we can help.
We aim to provide support services to those who do not know where to look, or who are confused about where to turn during the bankruptcy process. Our helpful advocates can assist you when you need it the most. We can give you confidential help, expert debt guidance and help you to find a personalised solution.
We don’t have any hidden fees, so you won’t have to worry about any nasty surprises. In addition to helping you to improve your financial situation, we can assist you in finding a solution to your mortgage issues. If you need help and support, give us a call today for your free consultation.
*Disclaimer: This article contains general comments and recommendations only. It is not intended to be and should not be construed as legal advice. This article has been prepared without taking account of your objectives, financial situation or needs. Before taking any action, you should consider the appropriateness of the comments made in the article, having regard to your objectives, financial situation and needs.
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