When you’re faced with losing the home you worked so hard for, knowing how to stop foreclosures is of the utmost importance. Along with this crucial information, you’ll also need dependable legal guidance, and C. Roland Krueger Attorney and Counselor at Law provides just that to clients in Lexington, NC. As a trusted foreclosure lawyer, Krueger and his skilled legal team can provide the insight you need to keep your home.

Stop Foreclosures With These 3 Crucial Tips

Arrange a Compromise

While it may not seem like it, most lenders would rather develop a compromise with the current owner than foreclosing on a home. To this end, you can work with your lender to develop a repayment plan, allowing you to get current on your mortgage without digging yourself into a deeper financial hole.

File for Bankruptcy

If you are unable to create a reasonable repayment place, you may want to consider filing for bankruptcy. Upon filing, the foreclosure process will be halted until a decision has been made. However, you will still be liable for the money you owe on your mortgage, and depending on the type of bankruptcy you are eligible for (i.e. Chapter 7 vs. Chapter 13), you run the risk of losing your home anyway.

Participate in a Short Sale

Once the notice of default has been filed by your lender, you should seek out a buyer immediately. Once you receive an offer, present it to your lender, who will be obligated to at least consider the offer. This is known as a short sale, and it will allow you greater control over the fate of your home than if the bank simply forecloses on it.

C. Roland Krueger Attorney and Counselor at Law offers local clients the benefit of more than 38 years of legal experience. If you’d like more information on how you can stop foreclosures, schedule a consultation with a skilled attorney by calling (336) 248-8464 today. You can also visit this Lexington firm online for the full range of legal services, from traffic violations defense to bankruptcy.