Don’t Let Your Home Be Foreclosed On Without A Fight
The possibility of losing your house to foreclosure is obviously frightening and upsetting for a number of reasons:
- You may end up with no place to live.
- You may lose the value of the investment and hard work that you have already put into your home.
- Your credit may be seriously damaged, and you may have difficulty obtaining another mortgage or lease in the near future.
Foreclosures are disruptive and highly undesirable for most people in most situations. In a foreclosure, a home that you chose and took care of will become just a memory, with no lasting equity remaining.
The bright light at the end of the tunnel of the threat of foreclosure may be one of these outcomes in your case:
- You may persuade your lender to let you reorganize your mortgage and get back on track with your monthly payments.
- You may discover the power that you have to stop the foreclosure by filing for bankruptcy. The automatic stay that is part of the bankruptcy will stop your lender from seizing your home, taking collection actions or suddenly forcing a short sale to go through.
- Through debt reorganization in a Chapter 13 bankruptcy, you may be able to repay unpaid mortgage premiums slowly with little or no interest over the next three to five years – while staying on top of current payments, too.
Learn what you need to know to stop foreclosure with the help of Law Offices of Bill F. Payne, P.C.. Get back to working on caring for your home, rather than seeing it slip away.
What If It Is In Your Interests To Let Your House And Mortgage Go?
What is best for other homeowners may not be best for you. You may have good reasons to consider cooperating when your lender threatens to foreclose on your home. Being proactive about it may allow you to set your own terms and move out on your own timing. You may be able to negotiate a short sale along with a legally binding agreement from your lender not to hold you responsible for any unpaid mortgage balance. A negotiated deal like this would let you walk away with no further obligations – and the burden of a mortgage that you could not afford lifted from your shoulders.
Explore your options in a free consultation with attorney Bill F. Payne in Dallas. His debt relief law firm, Law Offices of Bill F. Payne, P.C., welcomes your inquiry about debt problems, debt relief, bankruptcy, credit rebuilding and foreclosure alternatives. Call 972-848-0155 or send an email request for a free initial consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.