People take great time and care in choosing a home for themselves or their families. That is why it can be heartbreaking when extenuating circumstances arise that put their homes in jeopardy. We understand how important it is to keep the memories and life associated with your home. Our law firm can help you with your legal options for stopping foreclosure on your home.
At the O’Brien Law Firm, LLC, we work hard to ensure that our clients understand all of the options available to them. Instead of pushing bankruptcy on clients, we work with great attention to detail to learn about our clients’ situations and goals, so we can advise them on the possible options that will best help them. If you’ve made the difficult decision to surrender your home, we can discuss programs, in addition to bankruptcy, which may ease the transition by providing you with money to assist with the expense of moving. Located in Southaven, our law firm serves clients throughout Mississippi and Tennessee.
Legal Options to Avoid Foreclosure
There are a range of options that can be used to stop a foreclosure. These options have a variety of consequences, so it is important to discuss which option is right for you with an attorney who is experienced in the area of bankruptcy and foreclosure.
Chapter 7: Sometimes when a foreclosure is filed by a lender, there is not much time for the family or individual to find a place to stay. A bankruptcy, like Chapter 7, essentially puts a hiccup in the lender’s process of filing a foreclosure. It allows you to stay a little longer in the home and provides additional time to catch up your mortgage, if that is your goal. While this may not be a realistic option for keeping your house, it might provide the flexibility that you need.
Chapter 13: This type of bankruptcy is used to stop a foreclosure in its tracks. If your long-term goal is to keep the home, Chapter 13 bankruptcy is the right option for you.
Short sale: Another option for individuals to consider is to sell the home short of what it is owed in a short sale. This tends to be a burdensome option for individuals and can have some serious consequences attached to it.
Loan modification: An option that may be available to clients is a loan modification. This generally involves contacting the lender to see if the lender will extend flexibility and modify the repayment of the loan.
Government programs: Our attorney helps clients explore the possibilities of success through various government programs.
Horn Lake Bankruptcy Foreclosure Attorney
If you are exploring your options, contact a Southaven stop foreclosure attorney to educate you on your debt relief options. Contact our lawyer online by filling out a form, or by calling us at 662-672-7619 or toll free at 866-934-8148.
We are a debt relief agency. We help people file for bankruptcy relief under the bankruptcy code.