When foreclosure happens, it can sometimes feel like you do not have any rights at all
. What are your rights in foreclosure? And more importantly, how can they help you save your home?
The laws in your state regarding foreclosure is what dictates what your rights are. So the first thing that you have to do is find out what the laws are for your state. Is there a judicial or non-judicial foreclosure process in your state? How quickly does the process move? Is there a right of redemption period? All of these are questions that you need to find the answers to in order to really understand how your foreclosure process is going to work.
So how do you use what you have found out about your rights in foreclosure to save your home? If the process is judicial, you have more time to work out a solution. If it is a non-judicial process, you will need to move more quickly. If there is a right of redemption period in your state, you can get your home back even if it has been sold. The right of redemption allows you to come up with all of the money owed the bank in order to get your home back.
In order to save your home, you will need to understand how the process works in your state and what the timelines are. The timelines are especially vital because if you move too slowly or ignore your problem, your home might be gone before you know it.