As the economy and the housing market continue to struggle thousands of people find that they are unable to make their monthly mortgage payment. This often results in home foreclosure, which is an unfortunate situation for all parties involved. Often it is in the bank’s best interest to work with struggling homeowners and help them to find a way to stay in their homes. Sometimes this is not possible and the homeowner must contact a Fond du Lac foreclosure attorney for help.

Home foreclosure can be a very quick process. In some states all it takes is one missed mortgage payment before the bank forecloses on a home and kicks the homeowner to the curb. If you would like to know more about the foreclosure process in Wisconsin contact a Fond du Lac foreclosure attorney. If you have defaulted on a mortgage payment, an experienced attorney will help you understand the timeline you are working with and tell you how quickly your home can be sold.

If you would like to avoid foreclosure on your home you must be realistic about the situation. The worst thing you can do is bury your head in the sand and pretend there is no problem. Go through your income and monthly expenses and assess your financial situation. Once you do this you can contact your lender or the company that collects your monthly payments.

You will need to explain to your lender that you are experiencing financial difficulties and that you are unable to make your monthly payments. Hopefully they will work with you to come up with a solution. This solution may be short term or long term, depending on your needs. If you anticipate the ability to make up for your missed payments in a few months the lender may give you a deadline to repay them with a lump sum.

If you are facing long term difficulties, however, the lender may completely renegotiate the terms of your home loan. This could include lowering your monthly payment or adjusting the interest on your loan. Before you accept such a deal it is important to know whether or not you will be able to meet the new payment schedule. If you are unsure, contact a Fond du Lac foreclosure attorney for help.

Sometimes the bank refuses to work with a homeowner. If you run into this problem you will most likely need to hire a Fond du Lac foreclosure attorney. Set up a consultation with a lawyer today to ensure that you get the best legal advice and so you can protect yourself and your home.