General Options To Resolve Case
You have just been served with a foreclosure lawsuit from the sheriff, what do you do now? You may feel overwhelmed and don’t know what to do. You are already in a financial hardship right now due to a loss of job or medical issues or just something that you didn’t see coming. It is a lot for anyone to take in at once. You may feel defeated and not know what your options are, but there are many options for you out there.
There are options for you to keep your property and other ways to resolve it if you are not eligible for the options to keep the property. Your options to keep the property include 1) payoff; 2) short payoff; 3) loan modification; and 4) workouts through bankruptcy. If those don’t work, other options to resolve the court case are a) deed in lieu; b) short sale; c) sale of home for profit; d) bankruptcy to clear the debt and to fully defend the matter through trial.
That is many paths that you may take and hiring an attorney is critical in stopping the bank from proceeding faster by knowing the rules and utilizing those to speed up a foreclosure and an attorney will guide you through the many paths you can take to obtain the best result possible for you.
