When you are facing foreclosure, stalling, waiting, and generally sticking your head in the sand can be harmful for several reasons:
Credit score damage: Foreclosure can seriously damage your credit score, making it difficult to obtain credit in the future. The longer you wait, the worse the damage can be.
Legal consequences: If you wait too long to address your foreclosure, you may lose your right to defend yourself in court, or with any other legal actions. This could result in a quicker foreclosure process, and if you completely ignore your situation, you may not have the opportunity to negotiate with your lender.
Limited options: The earlier you address your foreclosure, the more options you will have to resolve it. If you wait too long, your options may be limited, and you may have to accept a less favorable outcome.
Overall, it is best to take action as soon as possible when facing foreclosure to avoid additional costs, legal consequences, and credit damage. Contact us today so that we can determine the best course of action for your specific situation.