How Do I Prevent Foreclosure?

Foreclosure Defense in Fresno

When a person is unable to repay their mortgage, the bank will begin the legal process of foreclosure, in order to reclaim the house or property, to attempt to recoup the outstanding balance on the mortgage or loan. Although foreclosure proceedings vary from state to state, foreclosure sales have been known to happen as quickly as 30 days after the initial foreclosure notice has been received. This is why it is extremely important, if you or a loved one is facing foreclosure, to consult with an attorney from the law group before the situation gets even more serious.

A bank foreclosing on a home or other property, will hold an auction to sell the property and use the proceeds of the sale to settle the debt. Should the sale fail to satisfy the entirety of the loan, then the lender can come after the person themselves and seek a legal injunction requiring them to repay the remainder of the loan.

One way to stop the foreclosure process is to file for bankruptcy. When you file for Chapter 13, you will be allowed to catch up on your back and missed mortgage payments through the repayment plan worked out with the bankruptcy trustee. It is important to make timely payments during the entirety of your bankruptcy case, or the lender may petition the court to proceed with the foreclosure sale. A lawyer from Price Law Group will be able to review your specific situation and advise you of your legal options.

Helping You Hold Onto Your Home

Being faced with foreclosure is a very serious and emotionally-trying experience. The attorneys at Price Law Group understand the impact losing your home can have on your family and your life. That is why they are here to answer your questions and help you navigate through the tough financial times. For the last 20 years, the law group has been helping protect clients from financial crisis. They take the time to review your unique situation and recommend the best course of action to pursue.