Many homeowners who face foreclosure are afraid of the stigma that is attached to it. It’s unfortunate because homeowners in the foreclosure process are already dealing with a seemingly insurmountable amount of debt. While going through an experience akin to drowning, it’s much more difficult to move past this time of your life if you’re also feeling ashamed.
The shame often drives families to leave their homes at the first sign of the foreclosure filing. The fact is that leaving a home at the commencement of a foreclosure suit is the worst thing that a homeowner can do for themselves, their family, and their community.
It’s been shown that in Florida, homeowners who choose to reside in their home after the foreclosure suit has been filed, are much more likely to reduce their overall debt. It makes sense since Florida is a judicial foreclosure state and thus it takes longer to complete the foreclosure process and have the original homeowners evicted than it does in other states. Without legal representation, homeowners may be looking at a foreclosure process that lasts a few months, but with a foreclosure defense attorney the process can last well over a year.
Remaining in your home throughout the foreclosure process is also beneficial to your community. The bank is not responsible for the home until the foreclosure is complete, thus leaving the property prematurely is more like abandoning the home. If the home is left unattended the lawn will overgrow, the home may become hazardous, and it may invite more criminal activity. Situations such as this bring down the integrity of the neighborhood and the value of the neighboring properties.
If you’re facing foreclosure just remember that abandoning your home is not the right option. Before making any decisions, speak with an expert foreclosure defense attorney in your area. At Graham Legal, the consultations are always free and we’re more than happy to answer any questions regarding your foreclosure.