If you face foreclosure or have already lost your house, you must consult with a bankruptcy attorney right away. Our foreclosure bankruptcy lawyers in Brooklyn Heights have experience in this area and can help you with all procedures. We can assist with filing for Chapter 13 bankruptcy, negotiate with your bank or lender for a loan modification.
Our firm works with clients throughout the New York City area who are facing foreclosure. We have represented hundreds of homeowners and can help you figure out whether filing for bankruptcy and reinstating your loan will be the best option for you. Contact a Brooklyn Heights foreclosure bankruptcy attorney today to find out how we can help you.
What Foreclosure Bankruptcy Attorney In Brooklyn Heights, NY Assist You With
One of the first things that a lawyer will do is help you understand the different types of foreclosure and what will happen to your property during each of the events. The second step will be to discuss the timeline for your foreclosure. What will be done to save your home if the bank sells it. This will also include giving you a timetable on how much money that you will need to come up with. When this has been accomplished, the lawyer will go over the different options available for saving your home.
When you face foreclosure, it’s not just your house that is at stake, and it is your life. Every day lost is a day of potential cost savings, and time is never on your side when bankruptcy options are gone. If you own a house, you should have a foreclosure bankruptcy attorney in Brooklyn Heights to guide you through the process.
Guiding You Through Your Foreclosure Defense Options
The foreclosure process is confusing, but foreclosure attorneys can help you navigate that process. Whether you are a homeowner in financial straits or an investor who has bought a property in default, our foreclosure attorneys will guide you through your options and fight for your right to keep your home.
Getting started on your own can be scary, especially if you don’t have someone to guide you through the process. If you have family or friends who have experienced foreclosure or know someone who has, it can be helpful to talk with them so that you can have some outside advice and so that you can be safe and prepared in advance.
The best way to do this is to contact an attorney who deals with foreclosure defense every day. Going through your options on your own can be a daunting and challenging task, and you may not know which options are suitable for your situation. Using an attorney can help you become informed and learn about your legal rights and entitlements to make the right choices and decide what course of action is best for you. It may take a little time to find the right lawyer, but the services they can provide for you can help make the process easier to handle and give the much-needed peace of mind to move forward with confidence.
Put A Temporary Stop On The Foreclosure Process
Depending on the type of loan you have and your finances’ current status, it may be possible for you to negotiate a new repayment plan with your lender. Even if this is not possible, you can still ask for a loan modification through one of many approved lenders to stop the foreclosure process. Many lenders are willing to work out loan modification arrangements to help struggling homeowners get their finances back on track. Before you approach your lender, you must make a list of your financial obligations and get a copy of your credit report to monitor any changes that may have occurred since you became behind on your payments.
When you ask your mortgage company for a loan workout arrangement, you should remember many options available to you. You can stop the foreclosure process by hiring a lawyer or a professional loan modification specialist to stop the process. In some cases, you can negotiate an agreement that will lower your monthly payments to where you can afford them. You can also attempt to sell your home on your own or with a real estate agent’s assistance to avoid long-drawn-out legal proceedings.
Filing For Bankruptcy
Filing for bankruptcy protection can often be confusing and complicated. Every individual case is unique, so it can be hard to get an objective individual to discuss how you will fare post-bankruptcy. The first thing that you need to know is precisely what the whole bankruptcy process entails. There are two main parts to the process, and these include:
- Filing a petition to the court.
- Receiving the protective order.
The next thing that needs to be understood clearly is what kind of discharge you receive when you file. The typical discharge strategy offered to individuals filing for bankruptcy protection is known as chapter discharge. However, Chapter discharge has several significant drawbacks, including the fact that it could potentially leave your remaining creditors out in the cold.
Alternatively, another option is available to those filing for Chapter 7 bankruptcy protection that involves repayment of your debts in full or payment in part of your remaining debts. This is known as a repayment plan. While the court trustee will work with your creditors to ensure that they receive the bulk of their money back from your remaining assets, you still have to submit to the court and agree with the terms.
Our Law Firm’s Process
Patentofficelawsuit.com provides you with a strategy that utilizes your best assets. The firm deploys its bankruptcy foreclosure lawyers and transactional specialists to negotiate, develop and implement the required strategy that results in a fair settlement for all parties. Learn below what you will get after contacting us.
Assessing Your Situation
There are many reasons why our customers confront foreclosures, such as job loss, sudden sickness, divorce, and excess debt obligations. Our experienced foreclosure defense attorneys will assess your situation to ascertain the best and proper plan of action.
Determining Your Best Solution
Our goal is to formulate a strategy to help settle your case quickly and with as little financial and psychological distress as possible during your initial consultation. Our approach to your defense depends upon where you stand in the foreclosure procedure. You could be pre-foreclosure, which means there is a pending foreclosure sale of your home, or even post-foreclosure, meaning your home has already been sold in a foreclosure sale.
In either circumstance, an active foreclosure defense will aid in the process of negotiation by helping the lender(s) prevent the cost of continued litigation.
Implementing Your Foreclosure Defense
An active defense can help your creditor’s procedure determine much better solutions than the continued time and litigation costs. With our law firm on your side, you will get appropriate representation with reacting to bank notices, during discussions, and, if necessary vigorous representation in court.
The banks are usually happy to hear that you are taking the initiative to defend your home. They are willing to negotiate with you on your behalf, and often they can get the situation in order without even going to court.
What Filing For Chapter 13 Can Help You With
If you have chosen to file for bankruptcy, then the question you are probably asking yourself is what filing for Chapter 13 bankruptcy can help you. The first thing to keep in mind is that your bankruptcy will affect everyone who has a debt with you. That includes your creditor, your landlord, and even your employees. It is essential to make this step of filing bankruptcy be a careful one. When we say everyone, we mean everyone!
- Cure mortgage arrears over time. As part of your Chapter 13 repayment plan, you will include repayment of any past-due mortgage payments stretched for five years in most cases. However, you will also have to create your current mortgage payments during this time, as well.
- Resume regular payments on the mortgage. When the foreclosure process is initiated, the debtor typically stops making payments. When you commence bankruptcy proceedings, though, you will restart regular mortgage payments while you make arrangements for paying arrears and other household debts.
- Eliminate second and third mortgage payments. If the value in your home is only sufficient to secure your first mortgage, then other mortgages (including home equity lines of credit) may no longer be secured with leftover equity. In that case, these junior mortgages have been classified as unsecured debt also could be”stripped.”
Another way that filing for Chapter 13 bankruptcy can help you get your interest rates reduced. This makes paying off your debts easier, but it can have a devastating effect on your credit report and score. There is a way to repair this, but it is not easy. That is why you need to consult a professional before you begin the process of what filing for chapter 13 bankruptcy can help you with.
Immediate Benefits Of A Chapter 13 Bankruptcy
There are many immediate benefits of a Chapter 13 bankruptcy filing. One of them is that you will avoid paying any taxes on the relief received. You see, in most cases, your creditors are not required to report the income you receive from this option because it is not considered income. If you file under this program, you will not have to worry about any possible fines or back taxes. This can make life easier and allow you to get back on your feet sooner.
Chapter 13 will also allow many of the debts you have accumulated to be discharged. This means that you will not have to pay many of your debts, such as credit cards, store cards, personal loans, auto loans, student loans, etc. If you were to be forced to pay back some of these debts, it could lead to bad credit in a matter of months or even years. With a discharge, you can avoid the humiliation that comes with dealing with such creditors.
See What Our Clients Have To Say
At Patentofficelawsuit.com, we are committed to helping our clients emerge financially healthier and more secure. Our firm is staffed with a team of bankruptcy foreclosure lawyers with over ten years of combined experience solving legal issues related to debt relief and foreclosure help. We pride ourselves on our commitment to excellence and servicing our clients with the highest level of dedication and experience.
Why Choose Us Your Bankruptcy Foreclosure Attorney
When you have a severe debt problem and need to talk with a foreclosure bankruptcy attorney, call us. Our team of Patentofficelawsuit.com attorneys can help. We are experienced and committed to serving you. Benefits of working with us:
- Over a decade of combined legal expertise behind your situation
- Individualized attention straight out of our attorneys
- Weekend and day meetings accessible
- Tailored debt relief solution
Have A Foreclosure Bankruptcy Attorney Review Your Legal Options
If you’re like many homeowners out there, the possibility that you’ll be facing foreclosure is causing you a lot of anxiety. You worry about being caught in the headlights of a costly lawsuit, the loss of your home and belongings, and so much more. You want to know what your legal rights are and how you can protect them from foreclosure. There are two main methods for engaging in legal proceedings to prevent foreclosure from happening to you:
- Do everything in your power to keep your home in your possession by contacting your lender and working out an arrangement to repay your mortgage.
- File for bankruptcy, which allows you to discharge most of your debts and avoid foreclosure.
It’s essential to have an experienced bankruptcy attorney review your case to determine which option would work best for you. While bankruptcy does have some advantages, it can also have a wide range of disadvantages, including long-term financial effects as well as damage to your credit score and reputation. So, it’s essential to weigh the negative and the positive when you’re faced with the possibility of facing foreclosure.
Our attorneys can provide you with free legal advice, so it’s very unlikely that you would be steered wrong. Bankruptcy foreclosure lawyers can help you prepare the appropriate documents that you’ll need to take to your local courthouse, as well as providing expert legal advice and representation in court. With the help of a foreclosure bankruptcy attorney in Broklyn Heights, you’ll be able to stop the foreclosure process before it even begins, so you can get back to enjoying your life.