The First Rule of Foreclosure (and it’s not “Hire a Lawyer”)

Foreclosure time is crisis time. Plain and simple. If you are facing foreclosure you know this. You feel it daily, even hourly.

There’s one step that everyone facing foreclosure needs to take, first thing, before anything. Do this step before going to bed tonight. Do this step before watching Netflix or brushing your teeth.

And do this thing before you hire a lawyer! Shocking advice, coming from a lawyer.

The very first thing you must do is this: Get on a Written Budget.

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Fixing your personal foreclosure crisis is about fixing your money. Our successful clients get this: the solution requires a change of behavior. The foreclosure fight is a secondary concern.  Almost none of the clients who come see me have a written budget, and if they do, it’s almost never accurate. You cannot get out of a foreclosure crisis by doing the same things that got you into the crisis in the first place.

We are big fans of Dave Ramsey and his system for budgeting. It’s what I use for my own finances. The budget is simple: every dollar you earn is assigned to an expense for your upcoming month. Every dollar has a purpose in advance. And the key is this: you must stick to the budget!

If you need help with budgeting, check out Dave Ramsey’s information here: Starting a Budget.

Facing a foreclosure? Need a great attorney? The first step is always to get yourself on a written budget.

Tomorrow, find out the Second Rule of Foreclosure. Here’s a hint – it’s not “Hire a Lawyer”.

Daniel McKillop

Managing Partner, Operations Manager/Sarasota

H. Daniel McKillop sues and defends lawsuits for individuals, families, and small business owners. He also advises small business owners in areas of real estate and contract formations.

Dan takes pride in helping people through financial difficulties, providing legal advocacy and support during tough times. He volunteers as a judge for Sarasota County Teen Court, and often co-counsels legal aid cases with Gulf Coast Legal Services.

Dan was an Air Force officer prior to attending law school at the University of Florida Levin College of Law. His duty assignments included deployments to Iraq, the Philippines, and various stints in east Asia.

Dan and Julia have two young sons, two dogs, four cows and four sheep.

Dan’s practice includes:

  • Foreclosure defense
  • Real estate litigation
  • RESPA and TILA violations
  • Probate litigation
  • General civil lawsuits.