When homeowners face losing their homes, they are often not aware of the steps they may be able to take to keep those homes. Although avoiding foreclosure in Hamilton, OH is not always easy, it can be done with legal help. It is important those who are facing the prospect of losing their homes continue to read through this information so they can be prepared with the steps they need to take to stop foreclosure.
The first step homeowners need to take is to make sure they contact their mortgage holder. Ignoring the threats of foreclosure will not make it go away. It is important to face the issue head-on and see if the mortgage company will be willing to work out any arrangements that can prove helpful in catching up payments that are in arrears. Should the mortgage holder refuse to offer help, it would be advisable for a homeowner to schedule an appointment with a lawyer.
A lawyer who works with bankruptcy clients can help people to not only protect their homes but to also lower their payments. Most people are given three to five years coverage of bankruptcy, and they are ordered to pay their payments on time and work towards catching up past-due payments. Bankruptcy puts an automatic stay in a place that prevents any collection activity from continuing.
Once the bankruptcy period has been successfully completed, there will be no further threats of foreclosure as long as the payments have been caught up and are current. This gives homeowners a second chance after facing financial distress, so they do not lose their homes or other property.
To find out if bankruptcy is an option for avoiding foreclosure, homeowners need to schedule a consultation with a lawyer. The lawyer can review the person’s financial records, income statements, and assets to determine if chapter 13 bankruptcy will be beneficial.
If you are facing foreclosure in Hamilton, OH, please know there is legal help available. Call the office of R. Dean Snyder and ask them to schedule you an appointment so you can prevent foreclosure and keep your home.
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