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  • Coppell Foreclosure Defense Attorney

    Is it possible to avoid a foreclosure?

    Foreclosure is the process whereby a bank or lender reclaims a property due to failure to keep up mortgage payments by a borrower. If you’ve experienced some financial hardship, and are having trouble keeping up with your mortgage payments, hiring an experienced bankruptcy attorney is often the key to unburdening yourself from further stress.

    There are a few different angles to approach a possible foreclosure. If you’ve received a notice of foreclosure, you’re probably feeling overwhelmed and stressed. A few possible options are:

    • A short sale – which is a transaction where the seller’s mortgage lender agrees to accept a payoff amount less than the balance due on the loan.
    • A loan modification where your original loan rates are modified to make your monthly payments more affordable.
    • A deed in Lieu of foreclosure – this is an agreement made with your lender to sign over your home’s deed to them in lieu of the remaining balance on the mortgage
    • Filing for Chapter 13 bankruptcy – you may be eligible for this if you have experienced a momentary financial emergency, still have a steady income, and yet have fallen behind in your payments. Filing for bankruptcy will stop any further foreclosure actions and allow you to work out a payment plan to catch up on your payments.

    Your attorney can even review your original loan agreements and make sure that your loan is in compliance with the Truth in Lending Act – if there are any discrepancies, there is a greater chance that your lender can be negotiated with to modify the terms of the loan.

    Foreclosure Defense Lawyer in DFW

    Because banks often have teams of lawyers to pursue foreclosures, it’s best to retain a zealous and forceful attorney such as those at Bright Law Firm to help protect your rights and interests. They will aggressively seek out a resolution that suits your specific circumstance. You are not alone, and don’t have to continue to be overwhelmed by the problem of pending foreclosure.

    Contact a DFW foreclosure defense attorney serving Coppell today and get help finding a better solution to foreclosure.