Let’s face it. If your home is more than just four walls and a roof on a plot of land. It’s where you and your spouse started your marriage. It’s where your little ones said their first words and walked their first steps. It’s a place that holds all of your most precious memories. So the idea of losing it can be absolutely terrifying.
Receiving foreclosure notices might be keeping you up at night, but just know that there are foreclosure options and alternatives and they’re not as scary as you might think:
- You can negotiate a modification of your loan or mortgage.
- You can file for Chapter 13 bankruptcy, effectively saving your home by moving your mortgage payments into the Chapter 13 repayment plan.
- You can utilize a strategic mortgage default.
- You can file for Chapter 7 bankruptcy, which can help you walk away.
- You can sell your house using a short sale option.
- You can sell the house and get help with buying something more reasonable. It might sound difficult, but it’s not that bad and thousands have used this option to get the financial burden off their shoulders.
Oftentimes, lenders skirt the rules in the foreclosure proceedings, crossing a line that puts them in violation of the Fair Lending Act? If that’s the case, your home could be saved. The important thing is to act quickly. The faster you take action, the more options you have. An attorney can take a look at your situation and may be able to buy you more time or keep your home from being foreclosed upon.
Consider Disposing of the Property if You Face Foreclosure
Aside from the above solutions, if all else fails, an accomplished Miami bankruptcy attorney will be able to assess your situation and guide you whether it makes sense to dispose of your house to get out of your situation if you’re no longer able to afford loan repayments. If you have some home equity, you may look for an investor for a quick sale.
Your Miami bankruptcy attorney will guide you that the transaction must close before the foreclosure auction. The attorney may even obtain a Temporary Restraining Order to stop the foreclosure.
Schedule a Consultation With a Trusted Miami Bankruptcy Attorney
Facing foreclosure? Your best option is reaching out to Patrick Cordero, the Lawyer of the Decade! From start to finish, Miami bankruptcy attorney Patrick Cordero will be personally involved with your case to provide the best foreclosure options. To schedule a consultation, call us at 305-445-4855 or contact us online.