Foreclosure can be devastating to homeowners who have worked so hard to keep their homes. Unfortunately, the mortgage holder has the right to pursue the foreclosure procedure as soon as three payments are behind. Once the process begins, it can be difficult to go through and typically results in the homeowner losing ownership of the home. If the process has not yet begun, it may be possible to avoid Foreclosure in Hamilton OH. Speaking with an attorney can help you to understand your rights so you may be able to keep your home.
To stop foreclosure, the attorney will first attempt to make contact with the mortgage holder. Though you may have tried to make arrangements to no avail, getting an attorney involved can sometimes make a difference. The attorney will work to make satisfactory arrangements so you can get caught up on your past due payments.
In the event the mortgage holder refuses to cooperate, the attorney can give you information on other options. One of those options is filing for chapter 13 bankruptcy. This type of bankruptcy lists all of your debts, including your mortgage. It prevents any creditor from pursuing you through court, wage garnishment or foreclosure.
If you are under bankruptcy, you will have two to five years to catch up on all debts you owe. During the bankruptcy period, you will be required to keep your mortgage payments current. At the end of the bankruptcy period, you will need to make sure all of your past due payments are caught up and your normal payments are current to ensure you can avoid foreclosure action.
Though bankruptcy is not for everyone, it is your right to file. This can help people who mostly have secured debt. It can lower your payments so it is easier for you to get out of debt and secure a brighter financial future.
If you are facing foreclosure and want to fight to keep your home, contact R. Dean Snyder Attorney. He can give you options on filing for bankruptcy and will work to make sure you are able to avoid Foreclosure in Hamilton OH. Call today for your appointment.