One of the biggest fears associated with debt is the idea of losing your home. Your home should be a place that you feel comfortable in and can serve as an investment in your future. It can be overwhelming to know that your financial woes and the burden of debt could potentially cause you to lose your home. If you fall behind in mortgage payments, foreclosure can be a very real threat. At the Law Offices of David Brodman, we understand that this time in your life can be stressful, but with the guidance of the Bronx bankruptcy lawyer from our firm, you may be able to stop the foreclosure process and save your home.
Foreclosure is not something that will happen right away, and in fact, many people are aware that foreclosure is impending. After several missed mortgage payments, lenders may begin to warn you that failure to get caught up on loan payments could initiate foreclosure proceedings. If you have received notification that you are delinquent on payments, it is important that you contact our firm right away. Generally, foreclosure will begin after three or four missed mortgage payments; however, each situation and lender is different, and it may take more or less for a company to repossess a home.
While there are some alternatives to filing for bankruptcy that may still save your home, such as a short sale or loan forbearance, bankruptcy can sometimes be the best option. When you file for Chapter 7 or Chapter 13 bankruptcy, an automatic stay will be placed onto your account. This automatic stay will cause an immediate halt to all foreclosure attempts. If your home is undergoing a foreclosure sale, the sale will be postponed for three to four months. This time frame will usually allow you time to get your finances in order and help save your home from foreclosure. While a lender can file a motion to lift the stay, this process generally takes a few months. When you work with the Law Offices of David Brodman, we can act quickly to protect you from a motion to lift the stay.
Are you ready to move forward with your case? It is important that you contact the Law Offices of David Brodman right away. Our firm can help you understand the benefits of bankruptcy and how filing can help save your home. We know that financial hardship may seem overwhelming, but working with the talented lawyer at our firm can greatly benefit your case. If you are feeling stressed about your future and you need to save your home from the foreclosure process, do not hesitate to contact the Law Offices of David Brodman right away and speak with our Bronx foreclosure defense lawyer. Our firm can be easily reached by completing a free case evaluation form online!