Foreclosure Scare Tactics

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When Do Banks Use Foreclosure Scare Tactics?

When you fall behind on your mortgage payments, you are already stressed and worried about your financial situation. This anxiety is exacerbated when mortgage lenders and collection agencies begin using foreclosure scare tactics to intimidate you out of your home quickly.

The foreclosure process is incredibly slow. Although most banks will begin foreclosure proceedings around the fourth to sixth month of missed mortgage payments, these banks are swamped with accounts that are past due. In fact, there are so many homes going through the foreclosure process that the banks are forced to hire outside bill collectors to assist them with handling accounts. A foreclosure can take years to finalize, but many banks are now pushing collectors to use scare tactics to push you out of your home faster in hopes of both punishing you for getting behind on payments and speeding up the timeline for selling your home.

Common Foreclosure Scare Tactics

The most common foreclosure scare tactics employed by debt collectors today include:

Fighting Foreclosure

The best way to fight foreclosure is with the assistance of a real estate attorney. In addition to consulting with a lawyer, you should:

Do I Need a Lawyer for a Foreclosure?

Whether you are trying to avoid foreclosure or you need assistance with easing the process of foreclosure, you should consult with a foreclosure lawyer who has experience handling foreclosure negotiations and alternatives. A foreclosure lawyer can assist you with scare tactics and will fight for your rights in court.

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Last Modified: 07-21-2015 12:15 PM PDT

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