While finding relief from debt may be one of the most significant hurdles you will experience in adult life, serious financial duress is usually a symptom of other, larger problems. These usually arise in the form of unexpected and sometimes long-term crises like a major illness or accident that may be debilitating and cause you to miss out on work, a layoff or loss of substantial hours, a difficult (and expensive) divorce, or perhaps an escalation of debt-to include massive student loans.
While you may be doing your best to stay afloat while solving your financial problems, you could still have trouble keeping up with some of the largest monthly payments, like the mortgage. As threats from the lender (and other creditors) escalate, you may find yourself under enormous stress, struggling with overwhelming feelings of hopelessness, embarrassment, and shame. Relationships may be suffering with friends and family as you isolate yourself during difficult times, worried about the possibility of losing your home. The best way to battle all these issues is to find a solution, but even that can be a challenge. You may find yourself drawn to quick fixes or plans that sound too good to be true for escaping the perils of foreclosure, and unfortunately, some are.
Sadly, many scammers out there are particularly fixated on preying on those who fear losing their homes. They may promise:
· Loan modification programs which require significant money up front (sometimes even monthly payment plans) and then yield little to no results. See more about this in one of our recent blogs on the subject.
· Refinancing options with enormous balloon payments that come due quickly.
· Counseling or consulting services (with an up-front fee, of course) that will teach you how to deal with your lender and your finances; however, most of this is basic knowledge.
· Sale of your home through an equity scam, asking you to sign over the deed in exchange for money after a buyer supposedly comes along. This is a good way to lose your home and your equity.
· A variety of different fraudulent loans, benefits, and more-all online or over the phone-usually leaving you in worse shape than when you began, and still with your home in foreclosure
If you are worried about foreclosure or have already received a notice from your lender, it’s time to get educated about your rights and your options. If you want to keep your home, it’s imperative that you have someone working for you. An experienced foreclosure attorney will understand the complexity of the law and protect you-as well as fighting your lender in court to save your home.
Contact Levitt & Slafkes, P.C. now so our foreclosure defense attorneys can review your case and help you move forward in a way that suits your needs best. We are here to help! Call us at 973-323-2953, or contact us online to schedule a consultation.
We are proudly designated as a debt relief agency by an act of Congress.