Behind on your mortgage? A Pennsylvania foreclosure attorney can help in a number of ways. Most people think that there’s no way to take on mortgage companies. That is not true. We can and do take on them on every day. Falling behind on your mortgage is scary. We get that. We work with people in your exact situation every day.
Getting the process started with a foreclosure attorney in Pennsylvania
The foreclosure process can be daunting. To help our clients along the way, we provide a number of free resources to answer your questions and walk you through the process. To start, our Pennsylvania foreclosure attorney, Patrick J. Best offers his e-book “Save Your Home: A mortgage attorney’s guide to recovering from late mortgage payments“, for FREE, just by requesting a copy. As part of the ARM Yourself With Knowledge Series, this guide aims to help you navigate the process of recovering from your late mortgage payments and the processes you have available to save your home.
If you would like to discuss your personal situation, just give us a call and our Pennsylvania foreclosure attorney would be happy to discuss your case. Our consultations are completely free so you have nothing to lose. If you’d prefer to e-mail us, just click here for a free consultation.
How does a late mortgage payment impact my credit?
First, it’s important to understand how your mortgage company thinks. Many people believe that mortgage payments are due on the 15th of the month. While most lenders give you a 15-day grace period before charging you a late fee, the mortgage is almost always due on the 1st. If you don’t pay by the 15th of the month, most lenders charge a late fee.
The good news is that your credit history typically isn’t impacted until you’re at least 30 days behind on a mortgage payment. At this point, your mortgage servicer may report your late mortgage payment to the three major credit reporting bureaus: Equifax, Experian and TransUnion.
Late payments and negative credit score impacts are just the beginning though. In our experience, after 120 days of late or non-payment, you mortgage company will start the mortgage foreclosure process. Trying to recover after that has happened is often like trying to stop a boulder from rolling downhill, but there are options.
What can I do if I’m late on my mortgage?
The good news is that there are a number of options. If you’re early in the process or haven’t missed a payment yet, you can consider mortgage workout options like forbearance or a repayment agreement.
Once you miss about three payments, the lender will stop accepting your payments. This normally leaves us with a few options:
Whatever you decide, it’s important to start early. The sooner we start, the more options you have and the easier the problem is to solve. If you wait too long, you may be forced to file an emergency Chapter 13 bankruptcy. Filing at the last minute is always more difficult and more stressful. Don’t wait!
Ideally, you would contact a Pennsylvania foreclosure attorney as soon as you know there’s an issue.
Pennsylvania Counties Served
Our Pennsylvania foreclosure attorneys have three offices throughout Pennsylvania so we’re close to you no matter where you are! We are happy to serve the following counties in mortgage foreclosure matters:
- Pike County Foreclosure Lawyer
- Monroe County Foreclosure Lawyer
- Carbon County Foreclosure Lawyer
- Schuylkill County Foreclosure Lawyer
- Wayne County Foreclosure Lawyer
- Luzerne County Foreclosure Lawyer
- Lackawanna County Foreclosure Lawyer
- Northampton County Foreclosure Lawyer
- Lehigh County Foreclosure Lawyer
- Berks County Foreclosure Lawyer
If your county is not listed, call us. While these are the counties we typically serve, our Pennsylvania foreclosure attorney has handled cases as far away as Pittsburgh upon request.
