If you are having trouble making payments for your home, then chances are your creditors might go for a home foreclosure procedure. But you have to hire an attorney to stop home foreclosure before it even begins. There are different ways by which you can prevent a foreclosure of your residential property in case you haven’t been paying the bills and are in debt. If there is even the slightest chance of you receiving a home foreclosure notice, then you should immediately hire an attorney for your case. He or she will not only help you to stop home foreclosure but also work the most convenient plans to help you pay off the debt or, even better, eliminate it.
This article has different ways your attorney will recommend you based on your eligibility and minimize your debt before you get buried into it and become homeless!
What is home foreclosure?
If you have payments for home pilling up for months and you are unable to pay them, then chances are your creditor will be going forward with a home foreclosure procedure to get repossession of your home. Home foreclosure procedure if done successfully could render you homeless so if you are receiving any threats from your creditors on having your home foreclosed, then you should take it lightly and instead hire a good attorney. An attorney will come up with ways to help you keep your home to yourself and even pay the debts in installments. If you are a resident of Atlanta, then Cornwell Law firm will provide an efficient attorney to help you out of this financial blunder.
Ways to stop home foreclosure in 2021
You will receive a notice from the bank which mentions their intention to put your house on foreclosure if the debt is not paid in the mentioned time frame. You can prevent the bank from running a home foreclosure AD by hiring an attorney the moment you receive the notice. An attorney will first look at the notice sent by the bank and look for any possible loopholes or mistakes because either could make the home foreclosure AD invalid, and this could buy you some time.
If the notice stands valid, then the next course of action suggested by your Attorney will be filing for bankruptcy. There are two chapters for bankruptcy which you can fill for, chapter 7 and chapter 13. The Chapter 7 bankruptcy will help you to eliminate all your unsecured debts, while chapter 13 will enable you to pay off your debt in installments so that you can be the sole owner of your home.
You can delay the foreclosure by either reviewing the real estate records to find any loopholes or ask the bank for loan modification plans and request to either delay the home foreclosure or stop home foreclosure. Either way, now that your financial crisis has gone out of your hands, it is best that you hire an efficient attorney.
