In tough economic times, real estate foreclosures increase. The result is significant pain and hardship for all Americans. Most people, when they learn they may lose their home, do not know what to do or where to turn.
One option is bankruptcy. Either Chapter 7 or Chapter 13 bankruptcy can stop foreclosure actions immediately and give you time to figure out what to do. In some cases, you may be able to keep your house by becoming current with your mortgage payments. In others, you may be able to modify the loan so that you can continue to make payments and keep your house.
The loan modification process involves changing the terms of your mortgage loan so that you can afford to continue making payments. This is most often achieved by significantly reducing the interest rate.
Our office has been successful in obtaining loan modification during our clients' chapter 13 bankruptcy cases. Our aggressive advocacy has resulted in substantial interest rate reductions allowing our clients to reduce their monthly mortgage payments. This has allowed our clients to save their homes where they may not have been able to otherwise.
Since we know what it takes to obtain loan modifications, we are taking that experience and are now assisting our clients in their application for participation in the state court foreclosure mediation process.
We will assist you in completing the forms necessary to participate in the mediation program. We mail the documents to the court and await a mediation hearing date. Our representation does not end there. We attend the mediation hearing with you and diligently and aggressively fight to obtain the best results.
Click here for information regarding state court foreclosure mediation.
*PLEASE NOTE that foreclosure mediation does not automatically stop a sheriff's sale.
