Pending Foreclosure

There are many ways that we can go about stopping a foreclosure. We can contact the lender directly. We can go into the state court and force them to stop. We can use an automatic stay in the federal bankruptcy court to force them to stop. The best solution and the best plan for you will depend on your situation and your lender. Contact us now to find out more.

Get a new mortgage. If you have sufficient equity there may be the possibility of getting a brand-new mortgage. There are different ways to do this depending on your current credit situation and if you have other people who can help you qualify for a new mortgage. Contact us and we can discuss some whether getting a new mortgage is the right choice for you.

Get a repayment modification on your current mortgage. If you are behind on your mortgage, we can go to the mortgage lender and see if they will grant a modification so you can catch up on your payments. The modification process is usually very frustrating and requires a great deal of time and attention. We can help you guide you through this procedure.

Stop the mortgage company from coming after you once the sale is over. If there is no way to stop the sale of your property, and the property goes to auction, there is a good chance that the lender will sell it for less than what you owe on the mortgage. The amount they sell it for will pay off part of your mortgage, but you will be responsible for the balance. This means that if you have a $300,000 mortgage and the property only sells for $200,000, after the sale is done not only have you lost your house, but the lender can still come after you for the remaining $100,000. We have ways to avoid this problem and to help you walk away without debt.

Find a buyer to save the equity. Sometimes you will not be in a position to save the property, but there may be equity in the property that you would like to preserve. If you allow the lender or tax purchaser to take the property, you may lose it all. However sometimes, even at the last minute, we can find a way to get the property sold so you can walk away with something. Sometimes that amount can be substantial. Don’t risk losing all of your equity.

Get a repayment for leaving early. If you are going to be leaving your property anyway, we can sometimes arrange for cash for keys. This is a this is a system where the lender will offer a payment in exchange for your agreeing to leave early. This helps them reduce their efforts to sell the property and helps you with cash to move on to your next place.

Get more time to find a new place. You may be ready to surrender the property, but you need time to put your affairs in order. Extra time may help you move in a less disruptive manner. There are different ways to get you more time before you have to leave. We can help you explore options both working through the court system and working directly with the lender. Contact us now to explore your options.

Filing bankruptcy to save the property. There are different types of bankruptcy, and they can each be used to save real estate. Common types are Chapter 7, Chapter 13, and Chapter 11. Each one has a different function, and different situations are best helped by different types. Call and talk to a lawyer; we can find out if bankruptcy is your best option, and which type would be best for you.

Sue the mortgage company. Sometimes the behavior of the mortgage company is so extreme that they open themselves up to a lawsuit. There are cases in which we could actually sue the mortgage company. If you feel that the mortgage company has wronged you, we can investigate your claim and see what can be done.

Foreclosure defense. If the lender has started foreclosure proceedings, you have rights in the state court which you only get if you request them. Lenders often also fail to follow all the rules and meet all the deadlines in filing a foreclosure. By providing foreclosure defense services, we can often make a foreclosure take substantially longer than it would otherwise. If you do nothing, the foreclosure proceeding can be quite quick. However, our attorneys, by going into the state court and helping you exercise your rights, can slow down the foreclosure process. In this extra time, you may be able to come up with the money to catch up on the mortgage, find a purchaser, negotiate with the lender for a modification, or at least have the opportunity to leave in a dignified and unhurried manner.

Find alternative methods to save your property. There may be ways to save your property that you have not thought of. We can take a look and try to find methods that will work for you. Sometimes things are just weird.