Deer Park Foreclosure Defense Attorney
How to Stop Foreclosure
The attorneys at this firm have nearly 3 decades of experience in helping individuals, many in situations similar to your own, through tough financial times. My firm has successfully represented thousands who felt they may lose their home or other important assets as they had debts beyond their ability to pay. I am Dennis M. Slate, Attorney at Law and if your home is being foreclosed on or you are behind on your mortgage payments, it is vital that you contact my office without delay. There are many ways to halt a foreclosure. Effective actions need to be taken quickly, however, to prevent foreclosure from proceeding to the point where it cannot be stopped.
A key benefit of bankruptcy is that when an experienced Deer Park bankruptcy lawyer from my firm files your petition, all efforts to foreclose on your home must cease, per the law. Once you have started the process of bankruptcy, all actions to force payment on debts you owe will be automatically put on hold by the court. Not only can bankruptcy stop a foreclosure, it will also halt repossessions, wage garnishment, debt lawsuits and any type of creditor harassment. The key is to file before your deadline for foreclosure has gone by.
Stopping Foreclosure Through Bankruptcy
The two primary forms of bankruptcy are Chapter 7 and Chapter 13. With either of these forms of bankruptcy, the court will discharge all or a great portion of the debts you owe, allowing you to start a new chapter in your financial life. With Chapter 7, you have the choice to retain your home while maintaining your mortgage payment. With your debts being legally dissolved, this may be easier to manage. In Chapter 13, you home is given asset protection under bankruptcy rules. Many times, you will also be able to adjust your mortgage so that your payments become much more realistic to make.
Not all individuals will qualify for bankruptcy. Fortunately, there are other methods of stopping a foreclosure that may be more suited to your individual situation. At times, bankruptcy alternatives such as a deed in lieu of foreclosure or a short sale of your home can improve your financial outlook while preventing the negative repercussions of having a foreclosure on your record. For some, a loan modification may be all that is required to put you into a position to be able to make your mortgage payments. Regardless of your current dilemma, I strive to find the best solution to prevent or put a halt to foreclosure on your home.
Contact a Deer Park foreclosure defense attorney to f ind out the many ways that foreclosure on your home can be halted.