Evictions and Foreclosures

Avoiding An Eviction After Foreclosure

There are few things as terrifying as not knowing where you are going to stay for the night. Not having a roof over your head is something that most of us can’t dare imagine. Still, millions of people have gone through the process of foreclosure on their home, and those cases are very terrifying. You should strive to know what to do in the event of a foreclosure to avoid being evicted outright.

Before Foreclosure Occurs

You have a lot more options for avoiding foreclosure before the property you live in goes up for a foreclosure sale than after. You should immediately get in touch with the lender of your mortgage to communicate with them about your options. They may be able to work something out with you whereby you are able to get caught up on your payments and avoid the foreclosure and eviction process altogether.

You should always be humble about the things that have gone wrong in the borrowing relationship when negotiating directly with your lender, and communicate clearly that you are striving to do better. Work out a deal that you know you can uphold to avoid putting yourself back in the same spot once again.

After Foreclosure Has Begun

Your options begin to constrict at this point, but you can still avoid eviction. The laws vary by state, but there is a possibility that you may be able to avoid eviction by paying off the purchase price of the house all at once, even after it has been sold in foreclosure. The odds of this happening are low since you probably wouldn’t be in foreclosure if you had the money to purchase the entire house available. However, you may be able to borrow the amount that you need to avoid eviction after the foreclosure sale has taken place.

Hiring legal council is the best first step to take regardless since said council know the laws in your state and how to use those laws to your favor. Consult with your lawyer to see what options are still on the table for you.