Lee County Foreclosure Lawyers
If you are facing foreclosure or the loss of your home because you can no longer afford to make your mortgage payments, reach out to the Lee County, Mississippi foreclosure lawyers at The Law Office of Denvil F. Crowe. Foreclosure is a process by which a bank or lender takes possession of your mortgaged home and attempts to sell the home to cover the outstanding balance of the mortgage. The foreclosure process can take time, so you won’t be required to leave your home right away when the foreclosure process begins. Sometimes lenders are willing to work with homeowners to help them refinance or restructure their mortgage to help borrowers avoid foreclosure.
Lenders must follow strict federal and state laws that protect borrowers through the foreclosure process. If you are behind on your mortgage payments, foreclosure isn’t inevitable in all cases. Contact the Lee County, Mississippi foreclosure lawyers at The Law Office of Denvil F. Crowe today to learn more about your options.
CALL US TODAY FOR A FREE INITIAL CONSULTATION 800-429-4357
What is the Foreclosure Process in Mississippi?
The foreclosure process doesn’t happen overnight. In fact, there is a period after you miss payments, but before foreclosure begins, known as pre-foreclosure, during which you can take steps to prevent foreclosure from starting. The Lee County, Mississippi foreclosure lawyers at The Law Office of Denvil F. Crowe can see where you are in the foreclosure process and help protect your rights.
What is the foreclosure process in Mississippi? Here are some things that might happen during the foreclosure process and how your foreclosure lawyer in Lee County, Mississippi at The Law Office of Denvil F. Crowe may be able to help:
- Pre-foreclosure. If you miss your mortgage payment, your lender may send you a breach letter, letting you know that you’ve fallen behind on your payments. The letter may include information about when foreclosure might begin if you don’t begin making payments. If you can, it’s best to avoid foreclosure. The Lee County, Mississippi foreclosure lawyers at The Law Office of Denvil F. Crowe may be able to help you negotiate with your lender to restructure or refinance your loan or may be able to help you file for bankruptcy to help you restructure your debts and prevent foreclosure. Under Federal law, your lender cannot begin foreclosure until you are 120 days late on a payment.
- Loss Mitigation Application. Before foreclosure begins, your lender may send you a loss mitigation application. You can also request that your lender send you this application. This application may ask you questions about your financial situation, monthly income, expenses, and may ask you to detail why you have fallen behind on mortgage payments. Loss mitigation might be a good option if you’re facing circumstances beyond your control, like a death in the family, divorce, you lost your job, were recently injured, or are facing unexpected medical bills or unexpected illness. If approved, your lender may be able to put you on lower monthly payments or may even be able to give you a loan forbearance. Loss mitigation is one way that you may be able to save your home if you expect your financial difficulties to be temporary.
- There are two types of foreclosures in Mississippi, judicial foreclosure and nonjudicial foreclosures. With a judicial foreclosure, your lender files a lawsuit asking the court to allow a foreclosure sale. Most Mississippi foreclosures are nonjudicial foreclosures. Basically, your lender must publish a notice stating that they intend to sell your property and post a notice on the courthouse door. Usually with a Mississippi foreclosure, the house is sold to the lender, who buys the property for the outstanding balance owed on the property. Sometimes another party can buy the property if the home is auctioned. If there is money left over after your mortgage is paid off, you may be entitled to receive this money. Once the bank or another party purchases your home, the eviction process can begin.
If you have questions about your rights or are facing foreclosure of your home, consider reaching out to the Lee County, Mississippi foreclosure lawyers at The Law Office of Denvil F. Crowe. You may be able to stop the foreclosure process by filing for bankruptcy, or by negotiating with your lender. The Lee County, Mississippi foreclosure lawyers at The Law Office of Denvil F. Crowe can review the terms of your loan to help you see whether you might have other options available as well. Don’t delay. If you are facing foreclosure, time is of the essence. Reach out to the Lee County, Mississippi foreclosure lawyers at The Law Office of Denvil F. Crowe.
CALL US TODAY FOR A FREE INITIAL CONSULTATION 800-429-4357
How Can I Contact a Lee County, Mississippi Foreclosure Lawyer?
The Lee County, Mississippi foreclosure lawyers at The Law Office of Denvil F. Crowe can be reached by calling 662-844-7949. Foreclosure isn’t inevitable. You have rights as a homeowner. The Lee County, Mississippi foreclosure lawyers at The Law Office of Denvil F. Crowe can review your loan agreement and see where you stand in the foreclosure process. You may have options that include negotiating with your lender, requesting loss mitigation, or filing for bankruptcy that can prevent the foreclosure process from happening. Don’t wait until it’s too late. Contact the Lee County, Mississippi foreclosure lawyers at The Law Office of Denvil F. Crowe today.
