How Can You Defend the Foreclosure of Your Home?

by | Feb 11, 2015 | Lawyers

Foreclosure is a word no home-owner wants to hear. When you are facing losing your home, it can feel overwhelming. Many people are not aware of their options when it comes to foreclosure. Are you are wondering How to defend foreclosure of your home? Make sure you read through this information so you can be proactive and get the help you need so you can keep your home.

When a home-owner gets behind on their mortgage payments, the mortgage holder has the right to foreclose on the home. This means they can take back ownership. Most mortgage companies will only allow you to get three payments behind before the foreclosure process begins. If you are being threatened with action, it is important you contact a lawyer as soon as possible so you can find out about your options.

When you hire a lawyer to help you, the lawyer will first attempt to contact the mortgage holder. Contacting the mortgage holder may help to prevent them from seeking foreclosure. In some instances, the mortgage company may offer to place your past due payments at the end of your loan. They may also be willing to make payment arrangements. Often, mortgage companies are more willing to help when a lawyer is involved.

If satisfactory arrangements cannot be made, the lawyer can help you to decide if bankruptcy is an option. Chapter 13 bankruptcy can allow you to avoid foreclosure and will assist you in gaining control of your debt.

You will be required to make all of your payments during the bankruptcy period. Often, the lawyer can help to reduce your payments for a certain period of time. If you are caught up on all payments at the end of your bankruptcy period, you will no longer be threatened with foreclosure. Bankruptcy can give you time to gain control of your debt.

Want to know How to defend foreclosure of your home? Call the office of Thompson and DeVeny Co. LPA right away and allow them to schedule you a consultation appointment. Through this appointment, you can learn what option will best help you keep your home.

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