Last week I touched on the basics of the foreclosure process. This week I want to try to impart some perspective and common sense.
DON'T PANIC!
Often times people that are served with foreclosure papers are like a "deer in the headlights". If you misunderstand the process, you may feel that your property has already been foreclosed upon even though you were just served with legal documents. Understand that foreclosure is a lengthy process and not a single event. The process generally takes a minimum of three months and can take a year or more. So, do not think all is lost and give up without a fight. You need to be proactive and be willing to learn about the foreclosure procedures and become committed to dealing with your lender - this approach will empower you and will heighten the chance for a more positive outcome for you and your family. Whether you've hired an attorney to help you or not, you need to get comfortable with the idea of communicating with your lender. You DO NOT have to sound like a lawyer - most of the people you will be dealing with are not lawyers but are simply employees hired to deal with the present crises at hand. There are a number of strategies available that I will discuss in the upcoming sessions. For now, just remember not to panic and begin to think about creating a plan for dealing with the foreclosure process.
Tune in to the next session aimed at helping you develop a plan to deal with the foreclosure process.
Until next time.
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