Many people are being faced with the horrible experience of receiving a foreclosure notice. It must be devastating and so your heart pounds in your chest, beads of sweat develop on your forehead and your hands start to shake. All this emotion and yet you knew it was coming. Knowing but not really understanding what to expect. Many people I’ve found are in denial, rejecting the possibility anything bad will happen at all. Then you see an advertisement that promises a resolution with your mortgage company, so you respond and believe this is your fix, you become hopeful. I have met several individuals in the last couple of weeks who became victims of this trap. Many of these companies are unable to resolve the arrearage issue with the mortgage company and it isn’t until the last possible second that they communicate their failure to obtain a resolution, which means they can’t help you.
In several circumstances these “foreclosure specialist” have instructed individuals like you to file for bankruptcy because it is the easy solution. There was no explanation nor are these “foreclosure specialist” licensed to give legal advice. It is very important for everyone to understand that if you are falling behind on your mortgage – you have a major problem that needs to be addressed NOW and not the day before the foreclosure sale. Filing for Chapter 13 bankruptcy can save your house if it’s done the right way. This means hiring an attorney who has the experience and knowledge to file your Chapter 13 the right way, especially when you file so close to your ’foreclosure date’. Don’t fall for this trap….. if your mortgage lender was going to negotiate a deal with anyone it would be with you the borrower and not a person who represents themself as a “foreclosure specialist.”