Be Prepared to Do Lots of Research
 

Ultimately, if you decide to proceed on your own in court, prepare to devote a significant amount of time to the case since you’ll have to do quite a bit of research in order to have any chance of success.


 

The rules and procedures that you must follow vary in each state and sometimes in each court. Your research must cover not only foreclosure statutes and relevant court decisions, but also rules of civil procedure (the detailed rules on what should be in your complaint, how to file it, when and how to file motions), rules of evidence, and more.
 

State and court rules also set forth deadlines that you must meet, which means you may have to complete your research (on possible defenses, for example) and learn how to properly lay them out in your answer or other court documents in a fairly short period of time.

 


If you've lost work because of the coronavirus outbreak and fall behind on loan payments, loan modification could help you avoid default.



 

Loan modifications are most common for secured loans, such as mortgages, but you may also be able to modify other types of loans. That could include personal loans or student loans.
 

A loan modification can relieve some of the financial pressure you feel by lowering your monthly payments and stopping collection activity.
 

But loan modifications are not foolproof. They could increase the cost of your loan and add derogatory remarks to your credit report.
 

That doesn't mean you should avoid a loan modification. But before you jump at the chance, consider all the angles.

 

A loan modification is different from a refinance. When you take a loan modification, you change the terms of your loan directly through your lender. Most lenders agree to modifications only if you’re at immediate risk of foreclosure. A loan modification can also help you change the terms of your loan if your home loan is underwater. Contact your lender if you think you qualify for a modification.
 

On the other hand, a refinance replaces your existing mortgage with a new loan. When you refinance, you can change your loan’s term, your interest rate and even your loan type. You can also take cash out of your equity with a cash-out refinance. To get a refinance, you’ll go through an application process that’s similar to the process you went through to buy your home.