Phone: (407) 476-4372

Orlando Foreclosure Attorney

Orlando, Florida 32801

Foreclosure Attorney Michael Stites

- We Help Stop Home Foreclosure and Remove Debt Liability-

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Orlando FL, 32801



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What will Happen if I Let the Bank Foreclose on My House?

Giving up and walking away from a home foreclosure is never recommended. Most home owners do not know they have the legal right to fight. If you do not fight the bank, your house can be sold in a foreclosure auction on in as little as 2 - 3 months. The bank and court will hold you responsible for any costs associated with the foreclosure including escrow costs, court costs attorney fees, late fees, outstanding loan balance, and interest accumulated. After the house is sold at auction you will be held liable for anything that has not been paid. And the bank will come after you for the money.

A deficiency judgement can be added as a lien to property you own or property that you buy in the future. Your bank accounts can be frozen and the bank will take a percentage of any future money you make to pay toward what you owe. Unless you file for bankruptcy, your credit score will take a very large dive.

You should always chose to fight foreclosure. You may be able to negotiate a short sale or deed in lieu of foreclosure wherein you walk away with zero debt. Banks are more likely to negotiate when you hire a foreclosure defense lawyer to fight for you. You need to fight for time. As more time passes, banks usually become frustrated and look for a quick way out that is more favorable to you.

Foreclosure FAQs

What will happen if I let the bank foreclose on my home?

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