Protect Your Home With A Pasco Foreclosure Attorney

Whether you live in Pasco proper, Riverview, West Pasco, or out in the country by Glade, the Tri-Cities area is a wonderful place to buy a home. Unfortunately, with rising costs across Washington state, many Pasco homeowners are starting to feel the pinch. Groceries, utilities, and day-to-day expenses can add up, leading you to fall behind on important expenses like your mortgage. Then, before you even realize it, you will face home foreclosure.

Whether your home is in quiet Osprey Pointe off Road 68 or in the bustling heart of downtown Pasco, we'll help you fight to keep it because we know how much your home and this city mean to you. We love our community, from the peaceful trails at Schlagel Park and the abundant recreational space at Kurtzman Park to the lively energy at the Pasco Farmers Market and the charming shops downtown.

That's why we fight hard to help our Pasco neighbors keep their homes. Losing your house means more than losing a roof. It's losing the chance to enjoy the best parts of life here, like picnics at Big Cross Disc Golf Course or hangs by the Columbia River.

Foreclosure can happen fast, so you must act quickly. If you've received a foreclosure notice, know that you have legal options. You may even be able to keep your home. The sooner you act, the more options you have to get out of debt and avoid foreclosure. Call our Pasco law offices now to schedule a free one-on-one consultation with an expert home foreclosure lawyer who will review your options and help you make a plan.

What Do I Do If My Pasco Home Is Facing Foreclosure?

When you face foreclosure, you need to act fast. The sooner you address the situation, the more legal options you will have to keep your home. Lenders typically begin foreclosure after three months of missed payments, but you can still take action even if it's later. Don't delay. Take these steps instead:

1. Understand Your Foreclosure Situation: Review your mortgage documents so you understand your loan terms. Make sure you are clear about your payment obligations, late fees, and any grace periods. Check if you've received any notices from your lender about foreclosure proceedings.
2. Contact Your Mortgage Lender: Lenders are often willing to work with proactive homeowners. Contact them as soon as possible to explain your financial difficulties.
3. Request Information On Your Options: Ask about loan modification programs, repayment plans, or forbearance agreements. Also, inquire about the status of the foreclosure process to understand where you stand legally.
4. Explore Foreclosure Prevention Options: There are many foreclosure prevention strategies you can work out with your lender, including:
   • Loan Modification: Loan modification could reduce your monthly payment by changing the terms of your loan. It may involve extending the loan term or lowering the interest rate.
   • Repayment Plan: You may be able to set up a plan to repay the missed payments over time.
   • Forbearance: This temporarily suspends or reduces your mortgage payments for a set period, giving you time to recover financially.
   • Refinance Your Loan: If you have enough equity in your home, refinancing may help you get a better loan rate or structure.
5. Evaluate Your Financial Situation: Before making any decisions, take a close look at your overall finances. Can you afford to keep the house? Sometimes, it may make sense to move on and avoid further financial strain. If you can't afford the home, consider renting or finding alternative living arrangements.
6. Talk With A Knowledgeable Pasco Foreclosure Defense Attorney: If you're struggling to keep up with mortgage payments, a Pasco foreclosure attorney can help you understand your rights. Under the Washington State Consumer Protection Act, you have rights when dealing with lenders. Filing for bankruptcy in Washington state under Chapter 7 or Chapter 13 can temporarily stop foreclosure (through an automatic stay) and may even help you keep your home. An attorney can also help you understand foreclosure defenses, including improper notice or violations of Washington state's foreclosure procedures.

Facing foreclosure can be scary, but it is your best bet. Act fast to get the foreclosure relief you need.

Can I Stop Home Foreclosure in Washington State?

If you're facing foreclosure in Washington state, you have several legal debt relief options to stop it and keep your home. Here are some that your Pasco foreclosure attorney will explore with you:

• Bankruptcy: Filing for bankruptcy in Pasco provides immediate relief from foreclosure through an automatic stay, which temporarily halts all collection activities, including foreclosure proceedings.
  • Chapter 7 Bankruptcy: Chapter 7 can delay foreclosure and discharge unsecured debts, but it may not help you keep your home unless you're current on mortgage payments.
  • Chapter 13 Bankruptcy: Chapter 13 helps you reorganize your debt under a repayment plan. In most cases, you will catch up on your overdue mortgage payments over 3-5 years, potentially helping you save your home.
• Loan Modification: With a loan modification, you negotiate with your lender for new terms to make your mortgage more affordable. Loan modification can:
  • Lower your interest rate
  • Extend the term of the loan
  • Reduce the principal balance

A modification can help you get back on track without losing your home.

• Forbearance Agreement: A forbearance agreement allows you to temporarily reduce or suspend your mortgage payments. Forbearance provides you with time to recover financially without foreclosure. The missed payments will typically need to be made up later in a lump sum or through a repayment plan.
• Repayment Plan: If you've missed mortgage payments, your lender may agree to a repayment plan where you pay an additional amount each month until you catch up on the overdue payments.
• Foreclosure Mediation: Franklin County residents may qualify for foreclosure mediation, a free service that provides a neutral setting for homeowners and lenders to discuss alternatives to foreclosure. Mediation can buy you time and help you find a solution, like a loan modification.
• Short Sale: A short sale is where you sell your home for less than the amount owed on the mortgage. You need the lender's approval to accept the short sale total as full payment.
• Deed-in-Lieu of Foreclosure: In a deed-in-lieu of foreclosure, you voluntarily transfer ownership of your home to the lender in exchange for the lender agreeing to release you from the mortgage.
• State and Federal Foreclosure Assistance Programs: Various government-backed programs may help prevent foreclosure:
  • Making Home Affordable (MHA) Program: Offers loan modifications or refinancing for eligible homeowners
  • Emergency Homeowners Loan Program (EHLP): Assists homeowners facing foreclosure due to unemployment or underemployment
  • Federal Housing Administration Home Affordable Modification Program (FHA-HAMP): A federal program that may assist homeowners with federal loans
• Sell Your Home And Rent Back From Your Lender: If you want to stay in your home but cannot afford to keep it, you may be able to sell it and rent it back. You can do this through a sale-leaseback arrangement, where you sell the property to an investor and continue to live in the home as a tenant.
• Foreclosure Deferment: If you're temporarily unable to pay your mortgage due to financial hardship, you may be able to defer foreclosure under certain circumstances. Deferment is available through some lenders, allowing you to pause or delay foreclosure proceedings temporarily.

Your Pasco foreclosure attorney will review your case and help you decide which option is best.

What Is The Foreclosure Timeline In Washington State?

In Washington state, the foreclosure process typically follows a specific timeline, measured in days. Here's a breakdown of the key steps:

Day 1: Missed Payment

The foreclosure process begins after you miss one or more mortgage payments. Lenders usually start it after three consecutive months of missed payments.

Day 90: Notice of Default

If you cannot catch up on your mortgage payments, your lender will send a Notice of Default, typically around 90 days after the missed payments. The Notice of Default gives you 30 days to cure the default by paying the overdue amount.

Day 120: Notice of Trustee's Sale

If you cannot cure the default, the lender will issue a Notice of Trustee's Sale. They must mail you the notice of sale at least 120 days after the first missed payment. The trustee will also record the notice with the county clerk's office.

Day 190: Trustee's Sale

After 120 days from the Notice of Trustee's Sale, the Franklin County Courts will schedule the foreclosure sale. This is a public auction where your Pasco home will be sold to the highest bidder. The Pasco County Clerk coordinates the sale at a public location. After the sale, there is no post-sale redemption period for non-judicial foreclosures in Washington state, meaning you cannot buy back your home once it sells at auction.

Pasco Foreclosure Attorneys Protect Homes Across The Tri-Cities

If you're facing foreclosure, we'll work tirelessly to protect your home and your future. Call us today for a free consultation, and let's take the first step toward keeping what's yours.

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