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Man Searching for Mortgage ReliefLoss Mitigation – Foreclosure Defense


When people fall behind on their mortgages, banks or other types of creditors will initiate foreclosure proceedings. For most people, being served with a notice of foreclosure is frightening and overwhelming as people fear losing their homes. However, before people panic, they should know that they have legal rights and alternative options.


Although many homeowners may not be able to avoid foreclosure, countless homeowners across the nation have managed to stop foreclosure by taking advantage of a foreclosure defense option. Homeowners can try to stop foreclosure themselves, but many people feel more comfortable having a professional assist them through the process. Furthermore, effectively negotiating and preparing financial worksheets, such as the loan workout form and hardship letter, overwhelm many homeowners. That’s why many have chosen to use the service of a professional to help successfully negotiate a foreclosure defense option.


Let The Debt Specialist Group refer you to an attorney with a significant amount of experience protecting consumer rights, protecting client’s homes, and fighting foreclosure actions. They can explain options such as Foreclosure Mitigation, Loan Restructuring, Deed in Lieu, Short Sale, and Cash for Keys. We have assembled a nationwide network of attorneys to assist our clients through the litigation and mitigation process. Every client has contact with an attorney in their state who has oversight over their file and can provide them with the specific legal assistance that they need.

Result of Foreclosure


Although it is wiser for a homeowner to pursue a foreclosure alternative such as a loan restructure instead of a foreclosure, some homeowners are unfortunately faced with no other option. But, if the homeowner is considering foreclosing on their property, he or she should take the consequences of foreclosure into consideration:

Impact Foreclosure has on Credit


  • An individual who has a foreclosure on his or her record will typically find it difficult to find alternate housing due to renters’ apprehension to accommodate individuals with a foreclosure on their record.


  • When an individual has a foreclosure on his or her record, credit card companies typically consider this a “red flag” of the homeowner defaulting on their credit card balance payments in the future. Therefore, many credit card companies may increase a card’s annual percentage rate in hopes that they can collect on as much of the balance as possible before the individual defaults on their payments.


  • A foreclosure on an individual’s record also affects how quickly he or she can purchase a home after the foreclosure. In many cases, it can take up to 5 years.