Dealing with a foreclosure lawsuit in Ogden, Utah, can be stressful and a scary experience. Dealing with it alone can result in making more mistakes or not taking action at all. Hiring a foreclosure attorney at Godfrey Law Ogden, Utah, can help you deal with foreclosure the right way. So, what do you need to do when you receive a Notice of Default? Before we jump into solutions, let’s get to know the basics of foreclosure.
Different types of Foreclosure your Lender can File Against you
Your lender will file a lawsuit on your delayed mortgage payments in court, and you’ll receive the Notice of Default. The Notice of Default demands a 30-day grace period for you to settle your charges. In the case where you cannot pay your debt payments, a local court or a sheriff’s office will get a hold of your property in auction.
Power of Sale Foreclosure
It is also called statutory foreclosure, which is common in most states in the country. Your lender will send out notices demanding payment after you’ve been in default. If you cannot pay your mortgage within the waiting period, your mortgage company will proceed to a public auction. You have to keep in mind that even non-judicial foreclosure is subject to judicial review for proper legal proceedings.
Right here in Utah, most foreclosures are non-judicial. A strict foreclosure scenario is when a lender files a lawsuit against you, the borrower. If you cannot pay within the court-determined period, your mortgage company will directly take over your property. But, strict foreclosure is only applicable if the amount of your debt exceeds your property value.
How to handle a Foreclosure in Ogden, Utah?
The most important thing you can do in handling a foreclosure is contacting a foreclosure attorney in Ogden, Utah, such as Godfrey Law, for a free consultation. Hiring a foreclosure attorney will represent you from negotiations and court proceedings. Foreclosure involves going over your finances, filing documents, legal arguments, following rules and proceedings, and more. Handling legal matters to court is easier with the help of an experienced attorney. An experienced lawyer will help you get better chances of winning your legal battle.
Do you need to file for Bankruptcy Before or After a Foreclosure in Ogden, Utah? – Foreclosure Ogden UT
You are filing for bankruptcy before a foreclosure can delay the foreclosure for months. It will automatically stop your lender from collecting any payment from you, which could last from 3-4 months. It will allow you to save up so you can pay up your mortgage. While filing for bankruptcy is an easy solution, it may not be the best solution for you. That is why hiring a foreclosure attorney is necessary to make the right decision.
Contact Godfrey Law Ogden, Utah, Your Foreclosure Attorney
If you’re facing foreclosure right now or about to face foreclosure, seeking legal help is the best course of action that you need to take in the first place. Godfrey Law at Ogden, Utah, is your ultimate choice to increase your chances of winning your battle. We understand that in every dreadful lawsuit, you need reliable and experienced legal counsel beside you. Call us at 801-621-7445 or book your legal appointment online to get a free consultation.