Many homeowners fear losing their homes but what do you do when it happens to you? If you’ve fallen behind on your mortgage payments due to unforeseen circumstances that put your financial well-being, PrivateLend.com has the solution. With a foreclosure mortgage, you can avoid losing your home and turn your financial turmoil into a winning situation.
What Is A Foreclosure Mortgage?
Foreclosure mortgages do exactly as their name suggests: they stop your home from being taken away from you.
If you’re hit with a sudden health crisis or job loss, you may fall behind on your mortgage payments. Unfortunately, the bank or conventional lender you received your mortgage from doesn’t care about your illness or you being laid off. They don’t make allowances for their clients and will take your home if you miss more than a few payments. PrivateLend.com understands that sometimes life throws you rotten lemons that can’t be turned into lemonade. We offer foreclosure mortgages because you shouldn’t be penalized for unforeseen circumstances.
What Is Foreclosure?
Foreclosure occurs when your lender doesn’t receive your mortgage payments for a few months. Depending on the lender, the amount of missed payments varies but generally, your lender will not tolerate anything that deviates from the terms and conditions of your initial mortgage contract.
When lenders do not receive their monthly loan payments they consider it a liability and will do everything in their power to get their money back. The way they do this is by foreclosing on your home so that they can either take possession of it or sell it to recover their potential losses.
Is Foreclosure Legal?
The lender does require the court’s permission in order to foreclose on your home but yes it is legal. Your bank does have the right to take away your home if you miss a few mortgage payments because you signed a contract allowing them to do so.
There are no clauses in your mortgage contract that stipulate that you can miss payments if you fall ill. There is no fine print that gives you the option to fall behind on your mortgage due to job loss. Even if you let your lender know that you will be missing a payment, they will not typically budge because they want their loan paid back as outlined in the terms of your contract. You can hire an entire team of the best legal minds to dispute your foreclosure, or you can save money and have your mortgage redeemed by PrivateLend.com. PrivateLend.com will find you the funds necessary to stop the foreclosure of your property before it is taken away from you.
If you’ve fallen behind on your mortgage payments or find yourself at a financial dead-end, contact PrivateLend.com. We’ll provide you with a foreclosure mortgage so you don’t lose your home or your dignity.
