Stop My Foreclosure Aurora
The frequency of foreclosure in the country has gone down since the recession, but the question of how can I stop my foreclosure Aurora still bothers some homeowners out there.
Foreclosure cases have gone down by more than half since 2012, online real estate database Zillow notes. Despite this impressive trend that signifies a stable economy and increasing home values at the same time, negative equity is still a problem for housing markets not just in Aurora, but also the entire country as well.
The economy might have healed in many ways, but there are many people who are still faced with the dreaded question of how to stop my foreclosure Aurora. There are select cases that can lead to Aurora residents facing the issue of foreclosure. One such case is a sudden jump in low-interest rates. It’s also possible that you might lose your job, which can be a tough time indeed. This can change everything you know about a household in moments and for any homeowner facing a foreclosure notice, dealing with the situation can be overwhelming.
At such tense moments, affected homeowners might find themselves making rash decisions that may eventually hurt them. There are, of course, certain options you can take when facing foreclosure and if you are careful and smart enough, you will work out a solution for your foreclosure problem.
All these, as noted, can be overwhelming and as such, going through them alone could make things even worse. There are plenty of resources you can turn to for answers to the question of how to stop my foreclosure in Aurora. For instance, you can seek help from the U.S. Department of Housing and Urban Development, find an attorney who specializes in foreclosure prevention or find homeowner advocacy groups in Aurora and Denver at large. Any of these entities will be in a position to guide you on which direction to take when facing a foreclosure notice in Aurora.
In years of helping homeowners stop foreclosure in Aurora, we have encountered quite a number of questions, some of which we will be sharing in this article.
Who can I call in order to stop my foreclosure Aurora?
This is a question we’ve seen so many times. Most people who are served with foreclosure notices usually have no idea what to do. If you are in this situation, a good thing to do would be to find the nearest homeownership counselors. The Department of Housing and Urban Development (HUD) has an approved list of such organizations that you can turn to when in need of help with foreclosure in Aurora. Usually, you can get advice for free from certified foreclosure counselors once they examine your situation in detail. Sometimes, they may even communicate with your lender with an aim of finding a working solution for both parties.
In cases where you have already been issued with a court summon over the foreclosure process and maybe you are willing to fight to stop the foreclosure, it’s advisable that you call an attorney who specializes in foreclosure prevention. Make sure this attorney is the best and valid (there are lots of shoddy ones out there who are only after taking advantage of your situation). Also, ensure that you are working with an attorney or organization that is located in Aurora or Colorado.
When should I act to stop my foreclosure in Aurora?
As far as making your move is concerned, it may depend on state or local laws. Once again, make sure you have made some inquiries about this before taking any step. Once you are summoned by the court, you have to abide and if there’s any lawyer telling you otherwise, it should serve as a red alert. An attorney should be able to contest on your behalf so that the litigation can move forward.
It’s important that you make contact with an attorney early enough, especially if you want to keep the property. This is much easier than fighting to get the house back after foreclosure.
Do I have any loan options?
Most lenders would jump at the chance to settle matters without involving the courts. You can avoid foreclosure by simply settling what you owe, but if there’s no money, you have a number of options to stop foreclosure in Aurora.
You can opt for refinancing, but if you are already late in mortgage payments, this won’t work. Alternatively, you can strike a deal with your lender to modify the loan. This involves you convincing the bank to give you fresh terms that can make it easier for you to pay back what you owe. You also have the option to file for bankruptcy under Chapter 13 and keep your lender from collection or even seizing your property – at least for some time.
Another solution, which should work for many in most cases, is to sell the house to avoid foreclosure. Rather than have a blemished credit history, you can choose to sell the house for cash and pay off what you owe, but your lender also needs to agree to this option. Signing a deed in lieu will mean the lender regains ownership of the property thus taking the debts off your shoulders.
If the thought of how to stop my foreclosure Aurora scares the hell out of you, there’s help a call away. Pick up your phone and call (720) 370-9595 and all your problems will be gone in a blink of an eye. Behind this number are Denver Property Flip, a company that buys and sells property in Denver and its environs. Here, you will be able to prevent foreclosure by selling off your house in less than a week – in cash!
Call today and you’ll be served with an all-cash offer within 24 hours.