Costs of a Foreclosure Procedure

The price included in a foreclosure procedure are numerous and can be great in terms of money and emotions. You do not get to rewind the clock after foreclosure has already begun so if you are on the verge of foreclosure, I encourage you to do everything that you can to stop it. The costs involved once it has started are great and best avoided.

The financial costs in a foreclosure procedure come in numerous forms. Once foreclosure has begun there are lawyer fees that start adding up. And once attorneys get included then there are also court costs involved. Because I let my foreclosure procedure get as far as it did, I wound up having to fork over money for the publication of my foreclosure in local papers. This was simply one of many of the prices that the county assessed that I ended up having to pay. I also ended up having to pay the lawyer fees for my lenders. All of these costs ended up being well over $4,000.

The other fees that my mortgage companies assessed in my foreclosure procedure were "miscellaneous costs." My lenders never did tell me why I had to pay any of those fees or even what they were for. These "miscellaneous fees" alone cost me well over $2,000.

I encourage you to seek legal advise to to try to avoid some of the costs in your foreclosure procedure. A decent attorney can help you in protecting your rights in a way that you simply cannot on your own.

If you are already in the middle of your foreclosure procedure, I do not need to tell you about the emotional price that is part of foreclosure because you already have experienced them. You live with them on a routine basis. If the foreclosure is on the home that you are living in, the price is extremely high. Because then foreclosure is not only being concerned about losing a house but it is about losing a home. You worry about where you will live if you lose your home. The battle for enough money to live and pay the bills is a daily struggle and it can oftentimes feel like a constant uphill conflict. The tension and worry about money is endless in every foreclosure procedure.

Finding a way to manage all of these emotions during your foreclosure can be hard but you have to come up with a path. One of the greatest paths to help you deal with the emotional fallout of your foreclosure procedure is to have family and friends nearby who love and support you.