We live in a world where your job has seemed to become a lifeline. If you have ever been in the frightening situation of questioning the status of your employment, then you know what it is like to see your current life in jeopardy. While everybody knows that having a savings account is of utmost financial importance, there may come a time to use that savings account. This becomes a difficult thing for some people to do because it admits to a time of despair.
Sometimes foreclosure strikes quickly, with a financial emergency such as a death in the family, loss of employment, or some other sequence of events and other times it creeps up slowly by piling up debt from multiple purchases, financial neglect or poor spending habits. When debt is significantly more than income, the best option is to declare bankruptcy. This is the part of foreclosure, which is difficult for most people. Bankruptcy brings a halt to all foreclosure proceedings and gives you and your lender time to negotiate the best option for satisfying both parties.
Although this is a common route, foreclosure does not always involve bankruptcy. What is important to note with foreclosure is that you and your lawyer have to compile a complete list all of your assets, which will aid you in preserving your credit score, financial standing and could be beneficial to having a better understanding of your spending habits.
The next step is to reduce all non-essential spending. If you have been put into your foreclosure situation because of poor spending habits, selling a few assets and reducing the ones that put you into this predicament will usually remedy the issues.
The next step you would have to take is to ensure that this problem of foreclosure won’t happen to you again. After your legal battles have finished AMA Law will help to ensure that you are set on the right path to preventing yourself from becoming an Oklahoma statistic again. Being a state with one of the highest foreclosure rates in America, we can get you out of your situation as well as teach you ways to identify when you are in a financial pinch before it becomes a repeat problem. AMA Law is in business to protect your family from suffering, and we will work to keep you on the best path to success in your life.
Regardless of what your employment status is, foreclosure is a serious matter and involves the safety of you and your family. If you have been put into a dangerous situation, which involves the stability of your home it is urgent that you contact the team of professionals at AMA Law. Our team of lawyers has been navigating the legal system for over 100 years of combined experience to help victims like you avoid the loss of your home. Our consultation is free, and we take every step necessary to slow the process of bank foreclosure as well as preventing it from ever happening at all.