Stop Foreclosure Westminster: Know Your Options
If you are fighting to stop foreclosure Westminster after falling behind on mortgage payments, don’t feel that it’s over. When you bought the house, you definitely never planned to be served with a foreclosure notice, but since it’s here, you need to know your options – including your rights as a homeowner as well.
Since battling to stop foreclosure Westminster was never on your mind when you came to Denver, it’s possible that you will respond to this foreclosure notice by doing completely nothing. Well, at least you will be consoled to know that this is basically what most homeowners do once they receive the foreclosure notice, hoping that somehow things will work out.
Don’t make the same mistake, especially since you have quite a number of options on the table, even if the home is already in foreclosure. It gets even better knowing that by the end of the day, you may emerge out of this all with a clean plate – no foreclosure and no bankruptcy on your record, but you must make the best decisions possible in order to make this possible.
One problem here, though, is that when trying to stop a foreclosure, time is never on your side. The more time you take to make a decision, the fewer the number of options you remain with. In case you didn’t know, every homeowner has rights, but most people have no idea about them.
What happens if you don’t respond to a notice of intent to foreclosure?
Foreclosure is not something that takes place overnight; rather, it takes time and careful planning from the side of the lender. During this planning, it is imperative that the lender keeps the homeowner in the loop. Once you are served with the foreclosure notice, you lender cannot begin the process until after 30 days from the day they contacted you about the foreclosure plans.
When the lender serves you with the notice, it’s upon you as the homeowner to ensure that the two of you have an agreement on how the problem will be solved. Sitting and doing nothing is the worst case and this is exactly what would lead to a foreclosure and eventually lose the home.
Who should you work with when trying to stop foreclosure Westminster?
When trying to stop foreclosure in Westminster, there are several options you have to help you solve the problem. The most basic one is to try and work it out with your lender, be it a bank or any other financial institution, which is essentially a debt collector.
Be warned that a debt collector will never work with you to help solve your problem, rather, they work with you to help solve their problem. As a result, they will do everything in their power to ensure that they get back what you owe them, even if it means selling the house. If you decide to work with your lender regarding stopping foreclosure, be very cautious with what you give them because the same could be used against you when things turn south.
If you decide to enter into a plan with your lender to stop foreclosure, there is no way you will walk out of the agreement without fulfilling it.
Loan modifications are a common thing among people avoiding foreclosure. While this might seem like a great solution to your problem, be very careful with the terms you choose because you might end up on the losing end after all.
Denver Property Flip
Nonetheless, if you are sure that your financial woes are only meant to last for a short period, the best way to stop foreclosure Westminster is to call your lender and work together towards a solution that works for both of you. But if you wish to have a fresh start without facing any threats of foreclosure or carrying any other loan burden on your shoulders, there’s nothing better than looking for companies that buy houses for cash in Westminster.
Denver Property Flip is a company that buys houses for cash regardless of their condition, thus helping homeowners to avoid things like foreclosure in less than one week. If you are fighting foreclosure, give us a call now on (720) 370-9595 and we’ll buy your house for cash, with the payment made after just 5 days.