Facing foreclosure is almost always an overwhelming, seemingly hopeless situation, especially when your lender is unwilling to work with you. If you've fallen behind on your payments, the bankruptcy attorneys at Backus Law Group want you to know you may still be able to stay in your home.
These accomplished Montgomery foreclosure lawyers recommend exploring all your options, including:
- Chapter 7 Bankruptcy: While filing for a liquidation may save your home, the automatic stay will put an immediate stop to the bank's foreclosure activity. Even if the lender applies for relief from the court, you'll likely be granted a few months to explore housing alternatives.
- Chapter 13 Bankruptcy: This type of bankruptcy allows you to restructure your secured debt through a court-mandated payment plan that allows you to make up for missed payments. If you can prove you can afford to stay in the home, having a bankruptcy attorney guide you through the process can help you keep it.
- Loan Modifications: Even if your loan modification application is eventually denied, just filing can delay the foreclosure, potentially for several months. Federal laws prohibit lenders from dual-tracking, which is processing a loan modification while still proceeding with a foreclosure application.
- Filing A Lawsuit: If you dispute the grounds of the foreclosure or believe the lender has violated the law, having a bankruptcy attorney file a lawsuit for you can permanently stop the foreclosure. Consult with a legal representative to explore whether a lawsuit is a viable option for you.
No matter how serious your financial situation may be, you can rely on the bankruptcy lawyers at Backus Law Group to help you achieve a second chance at life. They work closely with each of their clients, ensuring you get solutions tailored to your needs. Visit their website to learn more about their bankruptcy services, or schedule a consultation by calling (334) 265-0800 today.