Five Serious Mistakes to Avoid in Your Foreclosure Case

As with any other lawsuit, a foreclosure case can have a number of different outcomes depending on how you choose to handle it. So long as you avoid certain errors, you can significantly increase your chances of a favorable outcome. Here are five serious mistakes you should try to avoid in your foreclosure case:

1. Throwing out important documents and notices
   • During a foreclosure case, you are likely to be inundated with documents and notices, starting with the initial notice that you are late on your mortgage payments. While it may be tempting to throw these papers out, you should instead make sure to keep track of them. That way, you will have all the information you need to defend yourself in court.
2. Letting your home fall into disrepair
   • It is sadly common for people in the midst of foreclosure to stop performing maintenance and repairs on their home. This can come from a lack of financial resources, but it is also often the result of an attitude that it no longer matters if they keep their homes in good condition. This is ultimately counterproductive, however, as it can undermine your bargaining position later on.
3. Abandoning your home during the foreclosure
   • People facing foreclosure may decide that they do not have a realistic way of protecting their homes. In the face of this despair, they may abandon their homes, finding somewhere else to live while the legal process is ongoing, often under the mistaken belief that it no longer matters if they remain in their home. However, doing this can undermine any legal defense they might have had, which might have been able to save their homes.
4. Refusing to come to the negotiating table
   • While facing foreclosure is an obviously difficult experience, it can become significantly worse for people who refuse to negotiate with their mortgage lender. This is because many of the alternative options to foreclosure require cooperation between the lender and the homeowner. If you refuse to come to the table to negotiate, however, many of those options will be closed off.
5. Trying to handle the foreclosure by yourself
   • Given that people who face foreclosure generally struggle with financial problems, it may be tempting to simply try to handle the legal process themselves, instead of hiring a lawyer. However, this can wind up costing homeowners more than they save, due to their lack of experience or education in the area. That is why anyone facing foreclosure should speak to a lawyer with experience handling this complex area of the law.

At David J. Lorber & Associates, PLLC, we assist clients throughout New York who are at risk of losing their homes to foreclosure. We will explain your options and guide you in making the best decision for your circumstances. Call us at (631) 750-0900 or contact us online to schedule your Free consultation at our Setauket office.