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Procrastination- The quickest way to lose your home to a Foreclosure
If you have found yourself in the middle of a foreclosure case, you have to realize the Bank has a variety of trap doors, smoke and mirrors, endless loops, black holes, various mirages of false hope, and the imaginary belief that they will get right back with you with a solution. They do this via a wide variety of practices.
This is all by design, so you get feed up and frustrated, and stop calling and quit taking their calls. In the meantime, you are mailing you pounds of Legal court papers that are written in a mixture of English and Latin so when you open them up you have no idea what they are asking for or stating. Once again by design, for the more, they can keep you uninformed and misinformed the better it is for them. So you get an official looking letter that states Ocwen is filing a Lis Pendens against you.
At this point, here come the Legal documents that if you do not respond to it, will expedite your foreclosure and thus the sale date of your property, and you are being forced to move. The first one to watch out for is the “20 Day letter” Basically, a simple one-page form that cost nothing turns to the county courthouse. However, if it is ignored and you do not respond or procrastinate until the 20 days has passed, it’ll be too late, and the Bank then accelerates their efforts in foreclosing on your home (for if 2 out of 10 folks respond to the 20-day letter) you think they are going to put all the efforts against the people that are responding or the 8 that do not seem to care. Yes, the ones that do not care and are not putting up any form of fight. If you get nothing out of this writing at all, just respond to the 20-day letter. If you are still in overwhelm feel free to call, and we can give you a free assessment of what strategy would work best in your situation.
At this point, I am sure there is a voice in your head talking to you, I know people that have stayed in their home for years and not paid while the foreclosure is going on. You are right. However, they are not procrastinating and are not at the mercy of the banks assault against them. They are Proactive and realize if they are not ahead of the Bank, they will get run over by them. I have seen both types of folks, those that never even open the mail and there are stacks of envelopes everywhere, and I do mean everywhere. Then on the flip side you have those that have gone out and bought a file folder and a call log and have every bank call logged with whom and when they talked too, along with all the corresponding paperwork in one place. Whom do you think takes longer to foreclose on? Those that procrastinate and ignore the situation therein find themselves looking at a letter (if they open it) that says “sale date in 30 days”, and they have not prepared for it. They have not saved up any money for First, last and a deposit, and find themselves living in an extended stay hotel; I have seen this too many times. What I hear Over & Over is, well I know this will take at least 6 to 8 months, I will be okay by then. Having faith that you will get out of your situation or believe your well to do Uncle is going to help you out is one thing. However, what I also hear is where did this past 8 months go? It seems just like yesterday this thing started. For some reason, the older we get, the quicker time seems to past, #justsaying. So what innocently started as putting the unopened envelope on the coffee table and say I will get to these this weekend, ends up as a habit and before you know it, you are scrambling to find a place for you and your family to live in less than 30 days only to find out most place could have a 60-day waitlist. Remember this “Procrastination is like a new credit card, it’s a lot of fun, till it’s maxed out and you can no longer use it, and you are still paying for the fun you had three years ago with interest. Need help? Give us a call.