You have likely heard of people who have fallen behind on their mortgages and have lost their homes in foreclosure. If you are having trouble making your mortgage payments, you may assume that it is inevitable that the same will happen to you, especially if you do not see any way to improve your financial situation in the near future. It is important to realize that there are alternatives to foreclosure and that you should contact an experienced foreclosure defense attorney as soon as possible to discuss your options.
Debt Relief Options
Some people cannot afford their mortgage payments because of sudden overwhelming debt from medical bills, a legal judgment, a job loss, credit card payments, or similar circumstances. An attorney can help you explore ways to relieve these extra debts to free up money to pay your mortgage. One common solution is filing for Chapter 7 bankruptcy and our firm can advise whether this option may be right for you.
Loss Mitigation Options
Mortgage companies are often willing to negotiate to find solutions other than foreclosure. After all, most companies would rather have payments than deal with selling your home. For example, with the help of a skilled attorney, you may be able to obtain a modification of your mortgage loan to make your payment more manageable. Other options may be a short sale or deed in lieu of foreclosure. Our attorneys know how to present your case to your mortgage lender to help you obtain a loss mitigation alternative to foreclosure.
Defending against a Foreclosure Action
If a foreclosure action has been filed, there are ways to defend against it to ensure you do not wrongfully lose your home. The specific defenses available for you will depend on the circumstances of your case and our attorneys can identify when this is a possibility.
Discuss Your Options with a St. Petersburg Foreclosure Defense Attorney
There are alternatives to foreclosure, though it is best to act as soon as you believe there may be a problem with your mortgage payments. The sooner you act, the more solutions that may be available to help you stay in your home and avoid the stress of an impending foreclosure. Call the foreclosure defense attorneys at Berkowitz & Myer at 727-344-0123 for help today.