Buying a home is an accomplishment that typically takes many years to achieve. Therefore, when you lose your home to foreclosure, it can be one of the most devastating and frightening experiences you have ever gone through. If you are in the process of going through a foreclosure and are unsure of what to expect, here are some things you should know.
You Have Time
Contrary to what you might think, a foreclosure is not quite the same as an eviction when it comes to how long you have until you must leave the property. Before foreclosure can begin in the first place, you must have stopped making payments for at least 120 days. At this point, it is a good idea to speak with an attorney who specializes in Foreclosure in Lawrence, KS.
Once your home is foreclosed on, you will be notified of the sale of your property a few weeks before the sale is set to begin. However, at this time, you can file for bankruptcy which can delay the sale for a few more months. Filing bankruptcy can also prevent you from receiving a judgment against you for the monies owed on the property.
Going through the process of foreclosure in Lawrence, KS. can be quite tricky and detailed which is why it is important to have an experienced attorney representing you. There is so much information that you may not know otherwise, such as the fact that with all the proper paperwork filed, you may be able to stay in your home for up to one year. This can allow you to have the time you need to get back on your feet without the fear of being homeless. For more information, visit Joewlaw.com.