Follow on Google News News By Tag * Bankruptcy In Utah * Cc Brown Law * Cc Brown Law Office * Prevent Foreclosure * Salt Lake Foreclosure * Salt Lake Law Firm * More Tags... Industry News * Law * More Industries... News By Location Country(s) Industry News
Follow on Google News | CC Brown Law – Can i really stop foreclosure?Most people never realize the fact that they can stop foreclosure even if they stopped paying their mortgage.
By: Ccbrownlaw It is possible to completely end the Foreclosure process if the bank or lender is in violation of the Utah Unfair Lending Act or other predatory lending practices. If the lender has committed such a violation, the whole principal and interest balance may be waived and the mortgage may be voided. This may not be relevant in your case. But, at the very least, a successful defense can have the ability to buy you precious time to: * Stay in your home * Negotiate a work-out with the bank * Sell your home for a fair price * Refinance your home at a fair rate * Continue to collect rent on the property * Apply for a Court Ordered repayment plan * File a Chapter 13 or 7 Bankruptcy When home owners are confronted with the reality of facing a potential foreclosure, many experience a state of paralysis. They don’t know what to do. Selling the home may not be an Perfect option since the equity appears to have vanished. To fight foreclosure or not? That is the question. Clouding the answer is perhaps the biggest misconception, “Hiring an attorney is not a cost-effective option.” If I can’t afford to pay my mortgage, then how in the world can I afford to hire a competent attorney? And why should I, if I am upside down in my home? First of all, everyone should hire an attorney to represent them in their foreclosure case. There are many skilled attorneys who specialize in this area. Due to the increasing number of these kind of cases, many attorneys have become “experts” in this area. Most people don’t know one thing, once the foreclosure proceeding has started, the bank will not accept any future mortgage payments – doing so may adversely affect their ability to foreclose on your property. Furthermore, the bank pays any derelict real estate taxes and the insurance on the property. Once the bank files a foreclosure lawsuit, most of the homeowner’s disbursals will be paid by the bank. However, as the legal owner of the house, you have all the rights associated with same including residing in your home, collecting rents on the property, etc. Imagine the “equity” you can save/build, if you fight the foreclosure case for a year or more. The cost of qualified legal representation will be very less compared to your typical home ownership overhead. For More Details Visit Here http://ccbrownlaw.com/ End
Account Email Address Disclaimer Report Abuse
|
|