Is It Possible to Avoid Foreclosure in Chandler, AZ?

Dealing with a foreclosure situation can be stressful in many ways. Even the threat of foreclosure can frighten homeowners and leave them wondering what they can do to save their homes. When foreclosure is imminent, there are ways a person can avoid losing the home. If you are dealing with Foreclosure Chandler AZ, it is important to understand your rights and work with an attorney who can help you. Through the help of an attorney, you may be able to save your home.

When a homeowner hires an attorney to help prevent a Foreclosure Chandler AZ, the attorney immediately begins contacting the mortgage holder to see if any arrangements can be made. Though a person may have tried making arrangements on their own, sometimes it takes getting an attorney involved to make satisfactory progress.

In some cases, the mortgage holder may be able to move the late payments to the end of the mortgage agreements. They may also be able to restructure a mortgage so the homeowner has an easier time affording their monthly mortgage payments. If the attorney finds the mortgage holder is unwilling to work out satisfactory arrangements, he or she may decide to assist you in filing for Chapter 13 bankruptcy as a way to stop the foreclosure process.

Chapter 13 bankruptcy is for individuals who have secured debt, like a mortgage, they wish to protect. In this type of bankruptcy, the individual or married couple’s payments are lowered and combined so they are able to pay a monthly payment through the court. The period of time given for this type of bankruptcy depends on the amount of debt owed, but often lasts for several years.

Most people have their debt settled in two to five years. During this time, if the past-due mortgage payments are caught up and the current payments are paid, the homeowner will no longer have to be faced with foreclosure.

If you are facing losing your home, there is legal help to be found. For more information, Visit Site. They will be happy to help you overcome your debt and avoid foreclosure so you can keep your home.

Law

Leave a Reply

Your email address will not be published. Required fields are marked *

Shares