We are all susceptible to facing financial challenges that can be grievous enough to put as at the risk of losing our basic assets including our homes. In these difficult financial times, shouldering high mortgage rates can be too weighty to handle. The good news, however, is that we have all the help you need to handle any financial challenges like foreclosure, skyrocketing loans and heavy debts.
Facing foreclosure? We can help
If your home is at the verge of being possessed because of failure to make mortgage payments, do not worry we can help you find a way out. Contact our experienced attorneys can help to stall the process so that you keep your home as we find a way to modify the debt or halt the foreclosure process.In the rest of this article, find out more about how we can help you salvage your financial stability and de-tangle you from deadlines, loans and foreclosure.
When you are unable to repay a loan, it is not a must that you undergo foreclosure. Sometimes, reviewing the terms of your loan can help you to reach a repayment plan with your lender that will be more manageable and avoid you having to let go of your home. Homeowners can benefit from debt rescheduling techniques like refinancing that are meant to reduce the pressure on them and enable them to have room to breathe and pay their mortgages more easily.
Deed in Lieu of Foreclosure
The real estate market is currently very dynamic, making the value of most properties not to stay at a constant state of appreciation. When this happens, both the homeowner and the lender suffer a loss because property can only be sold for less money. Worse still, this repossession will not mark the end of the debt to the homeowner; they will still have to repay the balance.
The solution, in this case, is to go for a deed in lieu of foreclosure so that after the homeowner is totally cleared of the debt upon the possession of his property. The added advantage to the homeowner is that he can clear his financial records and get a good credit rating and buy a new home.
Repayment Plan Negotiation
Our firm has worked with clients who are so entangled in debt and or loans that do not have a logical payback plan. Sometimes we may be in a position to negotiate on behalf of our clients to re-baseline the amount owed. For some clients, negotiating how much they owe helps to relieve pressure and stress.
Pursue a Short Sale
A foreclosure presents stress not only to the homeowner but the lender as well. A short sale is a welcome idea to both parties especially when the property’s market value is lower than the actual debt. That is normally termed as an ‘underwater’ situation. The underwater situation is best handled by pursuing a short sale and then the lender is given the lien on the property.
Wrongfully so, people assume declaring insolvency means losing valuable property and assets. On the contrary, declaring insolvency could be the solution to salvage your financial situation by protecting your bank account and home. Although you may lose some assets, you will have ample time and less pressure to enable you restructure your debt, halt a foreclosure or get rid of it completely. Depending on your financial situation, there are different kinds of bankruptcy you can apply.
What we offer you
Our firm will provide you with the information you need regarding financial challenges. We can help you out of an underwater loan. When your mortgage is more than the actual value of your home, we can help you negotiate for a short sale. As such you will avoid the gruesome process of foreclosure.
We are ready to help you!
Why deal with the stressful financial challenges alone? Call us today and we will help you protect your assets and get ample time to sort out your debt situation. Our highly skilled foreclosure defense attorneys can assist you through the entire process. Call our offices or send us a message online to schedule an initial consultation and discuss your options today.