Foreclosures are complicated and frightening for homeowners. Discussing your situation with an experienced South Carolina foreclosure attorney right away, even before the foreclosure process starts, will help make sure you have more options to choose from. For example, your attorney can help you negotiate with your lender so you can continue living in your home or can defend you in court if needed. Otherwise, waiting too long will significantly limit your options to avoid foreclosure.
No matter your situation, our South Carolona foreclosure attorney, Eric Reed, at Reed Law Firm, can assess your situation and figure out the best recourse for your specific circumstances.
Work Out A Plan With Your Lender to Keep Your House
With adequate time, our South Carolina foreclosure attorney can negotiate with your lender to prevent foreclosure. by working out a loan modification program, which is an agreement between you and your lender that modifies your loan’s original terms. It might lengthen your repayment term or reduce your interest rate. Your attorney will guide you through the entire process.
They will also carefully evaluate the terms of the modification offered by your lender to help make sure that the terms are reasonable, there are no sneaky advances or fees added to your balance, and everything is in proper order.
Inform You About Various Loss Mitigation Options
Certain loan types, such as those guaranteed by Freddie Mac and Fannie Mae and FHA-backed loans, come with various loss mitigation options. These options enable borrowers to bring their loans into good standing. For example, you may qualify for a Flex modification if your loan is backed by Freddie Mac or Fannie Mae.
Represent You During Mediation
If mediation between you and the lender is an option, our South Carolina foreclosure attorney will negotiate on your behalf to make certain that your lender or servicer doesn’t take advantage of you.
Fight for Your Right to Keep Your Home in Court
Your attorney can raise a strong defense strategy or point out mistakes your lender made during the foreclosure process. For example, if your lender fails to follow state or federal loss mitigation rules, this can be a solid defense against foreclosure. If the judge agrees with your defense, they might stop the foreclosure, or your lender might negotiate a settlement.
Help You Navigate a Chapter 13 Bankruptcy
One of the most practical options to keep your home is to file for a Chapter 13 bankruptcy if you do not have the resources to fund a long and costly legal battle and your lender doesn’t want to modify your loan. If you’re eligible for a Chapter 13, you get to keep your home and repay your debts within three or five years.
Get Legal Guidance From Our Seasoned South Carolina Foreclosure Attorney Now
If you don’t want to lose your home and fight a foreclosure, do not delay in discussing your case with the SC foreclosure attorney at Reed Law Firm. Find out more about how we can help by scheduling your appointment with our SC foreclosure attorney online or by phone at 803-726-4888.
