The bank cannot simply foreclose on you on its own, as the law gives you due process to contest the foreclosure. The bank must go in front of a judge and make the case that they can foreclose on your home. This is your time to present your defenses to foreclosure. There is a chance that you could persuade the judge to deny the bank’s request to foreclose. The bank does not get to make the final decision.
However, if you ignore the foreclosure notice, you will lose the ability to contest the process. Not paying attention to the notice is essentially the same as telling the bank that they can go ahead and take your home. The court will issue a default judgment in favor of the bank, which is essentially a win in the case without you showing up to defend yourself. This gives the bank exactly what they want without you standing up for yourself.
It is always worth exploring whether you have possible defenses to your foreclosure case. You would never know this if you do not pay any attention to the foreclosure notice. Once you receive this notice, you should immediately speak to an attorney about your case. Your attorney would review the facts of the situation to see if there is anything that you can do to protect yourself. However, foreclosure proceedings have very strict deadlines. If you lose time, you will not be able to get it back. This is why you must act quickly.
If you find yourself facing foreclosure, contact the attorneys at Naples & Spence online or call us at 904.478.8964. We can review your case and let you know if there is anything you can do to stop it. You may even be able to negotiate with the bank.
