Time heals all wounds…and some foreclosures. A short sale does not happen in a day and a mortgage modification will not be completed inside a week. Both of these can be alternatives to a home foreclosure, but you may need a legal defense to see them through.
A Foreclosure Defense is not a denial of debt; instead, it asks your loan servicer to prove their case—to verify the facts of their authority to foreclose as well as the amount owed—and in doing so, gives you the opportunity to purse an alternative outcome. The idea of Foreclosure Defense is to reach an outcome of best benefit to you before the lender can complete their case against you.
Time is a side effect of Foreclosure Defense—not for the sake of remaining in the house payment-free as long as possible, but time to evaluate an alternative strategy. You have time to review personal and financial factors with legal counsel, and time to pursue a plan to bring you the best benefit for your circumstances.
Keep in mind that your lender’s legal department and their financial department are two separate entities when negotiating a backsliding mortgage payment. They do not necessarily communicate. Or coordinate. Being in the midst of a short sale will not stop a foreclosure procedure. The lender may be working with you for a short sale, but their legal department is marching forward towards foreclosure at the same time.
A Foreclosure Defense cannot change time, but it may be able to change what happens in the end.