The foreclosure crisis that is sweeping America has many root causes, including the following:
- Layoffs
- Out-of-control medical expenses in families
- Inflation
- Adjustable rate mortgages (ARM) which result in monthly payments out of the reach of borrowers
- Real estate “flip” schemes
- Decline in housing values, which may make it difficult or even impossible for people to sell their homes with enough profit to pay off mortgages
For a Livable Future after Foreclosure
If foreclosure or crushing debts threaten your family’s financial stability, you no doubt want to do the best thing and the right thing for your future. Contact an attorney in your city to discuss your options.
Negotiation with Creditors
Experienced Real Estate Lawyers have a great deal of experience negotiating with creditors (including credit card companies and auto loan companies) as an alternative to bankruptcy. They often succeed in helping renegotiate home loans, allowing clients to stay in their houses while reorganizing their finances. They represent clients whose homes are in foreclosure, whether or not forced home sale will occur in conjunction with a Chapter 7 or Chapter 13 bankruptcy.
Minimizing Liability when Foreclosure is Unavoidable
Sometimes foreclosure cannot be avoided and the best way forward is to minimize liability. Skilled Foreclosure Attorneys’ experience in family law, estate planning and bankruptcy translate into efficient, sensible advocacy on behalf of individuals and couples who are at risk of losing their homes to foreclosure. Attorneys work hard to protect the rights of mortgagees whose homes will be reclaimed by mortgage lenders.
