Learn Effective Ways of How to Stop Foreclosure
When a person owns a home, they do all they can to make their mortgage payments and protect ownership of their property. Unfortunately, unforeseen events can occur and cause a person to get behind on their mortgage payments. When this happens, the mortgage holder has the right to foreclose on the home. Foreclosure can be devastating for home-owners who have worked so hard to pay off their mortgage. If you are facing this problem, there are ways you can learn How to Stop Foreclosure. Your first step needs to be contacting your mortgage holder.
It is important you contact your mortgage holder and stay in contact when you are finding making your payments difficult. There may be options that can assist you in restructuring your payments so they are more affordable. Your mortgage holder may also be able to assist you in catching up any payments you are behind on. In the event the mortgage holder is unwilling to work with you, there are other options you can pursue by contacting a lawyer.
A lawyer can contact the mortgage holder on your behalf. Even if they were unwilling to cooperate with you, they may be more helpful when a lawyer is involved. A lawyer may be able to make arrangements you could not. If the mortgage holder still refuses to cooperate, the lawyer can help you file chapter 13 bankruptcy.
Chapter 13 can stop the foreclosure process and give you time to catch up on your mortgage payments and keep them current. Most bankruptcies give home-owners two to five years to pay down their mortgage payments and keep them current. As long as you are current at the end of this period, you will not be in danger of losing your home to foreclosure.
If you are wondering How to Stop Foreclosure, it is time to contact a bankruptcy lawyer and go over your options. A lawyer can be beneficial in helping you to overcome your debt so you are no longer facing the foreclosure process. Call today and schedule a consultation appointment so you can learn more. Through your lawyer, you can get the advice you need so you can keep your home.