Helping Clients Deal With Foreclosure Actions
Throughout the country and here in Colorado, the real estate market is beginning to improve. However, there are still hundreds of families who are facing the foreclosure of their homes. This has been the result of poor lending policies, adjustable rate mortgages (ARMs) or the loss of a job. If you have received a notice of foreclosure, or have been threatened with foreclosure, it is important to get in touch with The Adams Law Firm LLC.
The sooner Denver attorney Jared Adams can become involved, the sooner he can put a stop to the foreclosure or discover how to avoid the home foreclosure. Contact attorney Adams online or call 720-381-3168 or toll free 888-858-2134.
When a borrower is unable to continue paying on their home loan, or gets behind on a mortgage, the bank or other lender may seek to end the loan through a foreclosure of the home. This is essentially the repossession of the home through legal means when the terms of the loan were not being upheld.
It may be possible to stop a foreclosure through filing for Chapter 13 bankruptcy. However, for clients who may not qualify for Chapter 13 or who are looking for other ways of protecting their futures, there are alternatives to foreclosure and ways of foreclosure prevention. Unfortunately, not all of the alternatives to foreclosure allow clients to keep their houses.
Second Mortgage Stripping
Some clients may have a second mortgage on their home. By stripping this second mortgage, you may be able to avoid foreclosure. This allows you to continue paying on your loan and fulfilling the terms of your agreement with the bank. The bankruptcy process may automatically strip a second or junior mortgage. Attorney Adams can explain the process of stripping a second mortgage in order to avoid foreclosure and assess if this may be possible in your situation.
Other Foreclosure Options
In addition to filing for Chapter 13 protection or stripping a second mortgage, attorney Jared Adams may be able to discuss other foreclosure-avoidance options such as short sales, deeds in lieu of foreclosure and loan modifications. However, it is important to note that these options may not allow for you to keep your home.
Contact a Denver Bankruptcy Lawyer
To schedule a free consultation to discuss your situation and the possible home foreclosure you are facing, contact attorney Jared Adams today. Call 720-381-3168 or toll free 888-858-2134 to speak with an attorney today.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
