How Consulting a Bankruptcy Lawyer Can Help You if You are Facing Home Foreclosure

Last updated 1 year ago

Getting laid off or suffering a terrible injury can quickly put you in a financial bind. In addition to missing credit card payments, you may fall far enough behind in your home mortgage payments that your lender begins the foreclosure process. Luckily, a good bankruptcy lawyer can be a great help during this process. Here’s how:

Negotiation

Though foreclosure seems like an official and unchangeable process, there are many ways an experienced bankruptcy attorney can help you find ways around it. Despite common perception, lenders don’t stand to gain much from foreclosure—that’s why they’re surprisingly receptive to alternatives and compromises. Once your attorney explains the situation to your lender, you may be able to decide on an alternative resolution.

Sound Advice

When faced with foreclosure, it’s imperative that you tread very carefully. In addition to losing your home, your lender may sue you for your unpaid loan amount. Fortunately, a lawyer can help you explore options such as handing over the deed, getting help from the government, and others. If you’re not able to save your home, a good lawyer will at least give you advice that will help you emerge from the process in decent financial standing.

Help with Bankruptcy

When you file chapter 7 bankruptcy, you may be able to delay the foreclosure for several months, giving you a chance to save up money and find a new place to live. Chapter 13 bankruptcy can help you avoid foreclosure altogether by giving you the opportunity to reorganize your debts. Though it may seem stressful to juggle foreclosure and bankruptcy at once, you’ll find that a skilled lawyer can lead you through.

If you fear that you may soon be faced with foreclosure, contact Sandberg Law Firm. Don’t wait until the last minute to call for help—let our knowledgeable attorneys assist you during this tough time. To learn how to get started, call our office at (678) 733-9836.