How Chapter 13 Foreclosure Bankruptcy can help save your home.
If you are facing foreclosure, we may be able to help you save your home.
We have worked with, and found solutions for numerous clients who have found themselves facing the same stressful and overwhelming foreclosure process that you may be experiencing today.
Because you home is likely your single, largest asset a foreclosure may cost you thousands of dollars in lost equity if a forced sale occurs.
Despite the mortgage lender's threats to pay now or lose your home, there may be a way to stop the foreclosure sale and to retain your property, even over the foreclosing creditor's objection?
The answer may be a Chapter 13 foreclosure bankruptcy filing.
Chapter 13 Foreclosure Bankruptcy - A Last Resort
Attorney Bankruptcy Services is a Seattle, Washington law firm providing compassionate and affordable bankruptcy and debt-related services.
Although we have represented many clients in foreclosure and bankruptcy, our first priority is to seek a solution for our client's problems without having to file bankruptcy.
Bankruptcy is a serious step and should only be used as a last resort. However, if the foreclosure process has been initiated by your lender, you know that time is not on your side.
Unfortunately, clients often delay too long in seeking legal advice so that by the time they come to see us, the only solution left is to seek relief under the bankruptcy laws.
If you have recently divorced, lost your job, or suffered serious illness/injury that has caused you to fall behind in your mortgage, and may be unable to make your mortgage payment, contact us now so we can advise you on how to properly navigate through the rough waters to come.
For many of our clients, and perhaps for you, facing a foreclosure is something that they never imagined would happen.
A foreclosure is often the result of circumstances beyond a client's control, such as temporary disruption of income caused by unemployment, medical losses, on-the-job injuries, etc. An obvious solution to the foreclosure may be to sell the property before the date of the foreclosure sale.
However, it is often not possible to conclude the sale before the date of foreclosure.
It is also our experience that most individuals want to keep their property and find a way to get caught up on their payments.
You may have found that if you are three or more payments behind, the mortgage company will no longer accept payments from you. If this is the case and you earn a regular income from any source (including family member contributions), you may be eligible to file a Chapter 13 proceeding in the United States Bankruptcy Court.
Chapter 13 bankruptcy allows you to make payments to your creditors over a period of time and to retain your property while you do so. Often times, creditors are unwilling to agree to a payment schedule with you outside of Chapter 13.
In most foreclosure cases, you can have up to five years under Chapter 13 to cure the delinquency in your mortgage payments, even over the creditor's objection.
We are not suggesting that Chapter 13 foreclosure bankruptcy is right for you. Only a careful review of your circumstances by one of our attorneys can determine your best option considering your individual needs and circumstances.
Every case is different, and we pride ourselves in giving each client the individual attention that he or she deserves.
Surprisingly, Chapter 13 is an affordable solution, particularly when compared to the potential loss of your house and economic investment in your largest asset. The cost of Chapter 13 is often less than the costs associated with a refinance or a second mortgage, which typically involves significant points, fees and closing costs, as well as a higher interest rate on the new loan. A foreclosure appearing on your credit report may impede your ability to purchase a house more than a bankruptcy filing.
If you would like more information concerning your legal options, please contact us today. There is no cost or obligation for your initial consultation.
The greater cost may be the loss you may suffer if you delay.
We represent clients throughout Western Washington, including clients in King, Snohomish, Pierce, Kitsap, Island, and numerous other counties in Western, Washington. Take action and contact us today for your free consultation.
Please explore this website carefully. Look at the list of mistakes commonly made by persons in financial distress or facing foreclosure. Avoiding these mistakes might be the difference between saving your home or losing your home.
If you are facing foreclosure, you need to act now to protect you and your family's financial future.
Avoid further delay. The earlier you call us, the better your chances of keeping your home.
Put Attorney Bankruptcy Services to work for you, so you can enjoy your home not worry about losing it.
To receive a free consultation regarding your (or your friend or family member’s) debt problems, please contact us today at (206) 442-9500.