Negotiated an Agreement with Someone? Put it IN WRITING.

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It can sometimes be all too tempting to trust people at their word. Depending on a verbal agreement that you simply shook on is risky business, especially if the matter at hand is of substantial value – either sentimental or financial.

An example is a client we recently had the pleasure of meeting. Having struggled financially, this client was previously at risk of losing his home to Sheriff’s Sale. Foreclosure had occurred and his lender’s next move was to put his property up for sale to recoup some money. Desperate to save his home, this client begged and pleaded with his lender to hold off on the Sheriff’s Sale so he could figure out a way to make the payments. His lender agreed not to proceed with Sheriff’s Sale.

The only problem with the above agreement is that nothing was put into writing. Even if the lender at one point meant what they said and didn’t intend to proceed, nothing was holding them to that. Because of that, the lender in question did, in fact, go through with the Sheriff’s Sale, leaving the homeowner in utter despair and confusion about what to do next.

Until he came to see us, that is. Believe us when we say that we wholeheartedly do not recommend relying on verbal agreements of any kind – especially when it comes to something as important as your home. With that being said, even if you have entered into a verbal agreement that went south, we want you to know that it is almost never “too late” to fix things.

In a case of foreclosure and Sheriff’s Sale, if you’re in need of help in saving your home at a very late date (or even after the sale has occurred), we have the experience needed to assist.

While it may seem impossible to save a home that’s already been foreclosed upon let alone sold at auction, working with a qualified foreclosure defense team means you’ll still have options. A federal program intended to help struggling homeowners, called HAMP (Home Affordable Modification Program) can come to the rescue if put to use by the right foreclosure team.

HAMP is intended to help ensure that struggling homeowners don’t lose their homes in a slow economy or when they’ve had difficult situations arise in their personal lives. HAMP’s main goal is to make sure that your mortgage payment is no more than 31% of your gross income.

Not every foreclosure defense attorney in New Jersey is equipped to deal with difficult and unusual circumstances like late date loan modifications. Even if your home has been foreclosed on and been sold at Sheriff’s Sale, Veitengruber Law’s experience with the redemption period and foreclosure time extensions is the kind of experience you need.

Do yourself a huge favor and call our office now before it really is too late. Your consultation with us is absolutely free, with no obligation to retain our services, but we have a feeling you’ll be really glad you called.

Image credit: Tim Pierce
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One Response to Negotiated an Agreement with Someone? Put it IN WRITING.

  1. Pingback: Renters’ Insurance: Do You Really Need it? | Veitengruber Law

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