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Foreclosure or Other Real Estate Law Questions? Give Us a Call

Written by Kreisler-Law-PC on . Posted in Foreclosure, mortgage, Real Estate

In times of financial difficulties, which can happen to anyone, one major concern is homeowners who fear they may face foreclosure. Your first instinct is to hire a lawyer; however, there are steps you can take that may save your house without the added expense of attorney fees. Here are a few options you should explore before giving us a call.

Your lender may arrange a repayment plan based on your current financial situation. There can be a reduction or even a suspension of your payments for a determined amount of time. This is called a special forbearance and it is worth looking into.

A mortgage modification allows you to refinance your debt and extend the term of your mortgage loan. This helps you as it may reduce your monthly payments. If you qualify, your lender may work with you to obtain an interest free loan from HUD that will decrease your monthly payments.

Other options available to avoid foreclosure include a pre-foreclosure sale. This allows you to sell your property, pay off your loan and avoid credit rating damage. The last line of defense is a deed-in-lieu of foreclosure. Basically, this is where you just give your house back to the lender. Again, there are qualifications that need to be met before this can happen.

If you have any questions concerning foreclosure or real estate law, schedule an appointment and we will see what we can do for you.

With a Good Attorney, Bankruptcy Could be the Tool Needed to Help Give You a Fresh New Start

Written by Kreisler-Law-PC on . Posted in Bankruptcy, Foreclosure

The time has come and you need to make a decision. Your financial situation is in complete and total disarray and you don’t know where to turn. You are considering bankruptcy, but not sure if that is the right decision for you. After all, it is a scary road to have to take. There are a few things you need to know before you decide to take that step towards filing for bankruptcy.

The first thing you need to do is give your financial situation a little more thought. Take into consideration your inventory and assets including retirement funds and savings accounts. If you owe more than your total assets, then bankruptcy might be the proper course of action. But you should also consider your specific situation. For instance, if you are being hounded by bill collectors or if you are paying for necessities with nearly maxed out credit cards, then you should consider bankruptcy as a viable alternative. If your home is in jeopardy of going into foreclosure and you feel scared and out of control, you may want to consider bankruptcy as a way to settle your debts.

If you are in debt way over your head and feel bankruptcy is the only solution, you should really consider contacting us. With a good attorney and the correct information, bankruptcy could be the tool needed to help give you a fresh new start.

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