Foreclosure Options - Don't let your home be sold.
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All too often people facing foreclosure wait until the last minute to get help. Waiting until the last minute is never a good idea. Ultimately you eliminate some of the options that are available to you. So the sooner you get help with your foreclosure, the more options you will have. Contact us! Our legal team at John Peter Lee, Ltd. finds solutions and we can guide you in the process of obtaining real relief. We will look at your foreclosure situation to determine all the options to save your home. The internet is overrun with advice and there are many great self help books, but nothing compares to a live person with years of experience.
There are numerous ways of avoiding foreclosure, or at least taking control of the situation to lessen the impact it has on your life. These include, but are not limited to:
Short Sale : A short sale is a viable way of avoiding foreclosure because the lender agrees to take a loss and write it off. This can stop mortgage foreclosure and avoid the negative impact on your creditDeed in Lieu of Foreclosure:
If it appears there is no way to stop house foreclosure, the Deed in Lieu of Foreclosure allows you to transfer title on the property over to the lender and be relieved of all or most of your personal indebtedness associated with the loan. Forbearance Agreements: BEWARE ( see actual situation in 'Testimonials' ) of forbearance agreements! We mention this "option" for avoiding foreclosure first, because the lender will often present it as an alternative to stop foreclosure sale. In fact if you have real financial problems, a forbearance agreement is little more than a way to postpone foreclosure. It is often promoted as a chance to catch up on your payments — but with stricter terms.
Filing Chapter 13: After detailed analysis of your situation, filing a chapter 13 to re-organize and consolidate your debts may be the best option. This is especially true when your Second Mortgage can be eliminated and allow you to stop house foreclosure. Filing for Chapter 13 debt consolidation is a powerful and legal way to stop the foreclosure process immediately.
For more information or to schedule an appointment with an experienced lawyer, please contact us today. Your initial consultation will be free.
