Foreclosure is a frightening word to any homeowner. The thought of losing your house – something you worked hard to buy and work hard to pay for each month – is a nightmare situation. If you’re late on your mortgage payments, it may feel like the whole world is closing in on you, and you have nowhere to turn. Fortunately, that is not the case. Foreclosure prevention in Iowa is possible, and there are resources at your disposal to help you keep your home and maintain your financial livelihood.
That being said, preventing foreclosure takes work and commitment. If you simply start missing mortgage payments and don’t take an active role in fixing your situation, you won’t be able to stop a foreclosing party from forcing you out of your home. It doesn’t take very long for the foreclosure process to kick in – only three months of missed mortgage payments can cause your mortgage company to initiate the first step of a lawsuit. When you receive your notice of foreclosure, you only have 30 days to make all of your past due mortgage payments and prevent the foreclosure process from continuing.
So what specific steps can you take to prevent foreclosure in Iowa? One option is openly communicating with your mortgage company. Often, banks will be much more forgiving and flexible with homeowners who lay their financial cards on the table. Every day, mortgage companies work out payment plans and other solutions with their customers who are honest and forthright. That being said, mortgage companies aren’t always as helpful as they should be. If you have trouble dealing your mortgage company and they won’t help you prevent a foreclosure, then you need outside help that can intervene and defend your house.
At Marks Law Firm, we’ve prevented Iowa foreclosures for years. We’ll help you navigate the foreclosure timeline, and take the steps necessary for you to stay in your home now and in the future. We’re committed to real foreclosure solutions, and we know that – for many Iowans – losing their house to foreclosure just simply isn’t an option. If you’re serious about preventing your mortgage company from foreclosing on your home, contact Sam Marks of Marks Law Firm today for a free consultation.