Foreclosure and Collection

Foreclosure Attorney Lexington SC

foreclosure and collectionMost people are unaware of the options available to them when they fall behind on their mortgage payments. The bottom line is that lenders typically do not want to foreclose on the mortgage, but prefer to have the borrower make the agreed-upon payments under the terms of the mortgage and within the designated timeframe. In the current economy, with businesses reducing their work force, resulting in bloated unemployment rates, residential mortgage foreclosures have been on the rise, as well. If a homeowner has fallen behind on mortgage payments and has gotten written notice from the lender that his mortgage is in default, the homeowner nevertheless has certain rights under the mortgage and recent Federal legislation and State and Federal case law that may entitle him to halt the foreclosure process long enough to explore options available with the lender, such as loan modification, restructuring, and possible reinstatement of the mortgage. If keeping the house is not financially feasible, sometimes repossession short of foreclosure is a less costly option.

Civil Litigation Attorneys

Civil Litigation Attorneys

Carey M. Ayer

(Ph) (803) 359-2512

(Fa) (803) 359-7478

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