Get Help From an Attorney When Confronting Foreclosure

More and more struggling homeowners are making their way through the threat of foreclosure on their own.

2011-06-25

June 25, 2011 (Press-News.org) Get Help From an Attorney When Confronting Foreclosure

More and more struggling homeowners are making their way through the threat of foreclosure on their own. From attempting to negotiate in good faith with their lenders (a difficult task) to showing up to court to contest the foreclosure, some desperate homeowners are taking a sink-or-swim approach to navigating the foreclosure process.

For many homeowners, this is a mistake.

Lenders have been notoriously difficult in negotiating loan modifications. For homeowners unfamiliar with the process, lenders may not take offers seriously or respond timely to the homeowner.

As for representing yourself in court, the foreclosure process gets more complicated as the case goes on. But you may have a legitimate defense. For example, if you were subject to predatory lending, and the lenders violated the Truth in Lending Act, you may be able to have the foreclosure case dismissed. In fact, in some circumstances the bank could end up owing you money.

Chapter 13 Bankruptcy

Even if the bank did not break any laws and is conducting the foreclosure correctly, you may still be able to save your home. Chapter 13 bankruptcy is often the most reliable way to stop foreclosure. Any time you file for bankruptcy your lenders cannot proceed with foreclosure. The stay isn't permanent, but at least until you can organize your debt and begin a payment plan so your house will not be foreclosed.

In a Chapter 13 bankruptcy the filer makes a payment plan for his or her debt. For secured debt (debt that the lender or creditor has a lien on, like a home) creditors have the right to reclaim the property if the borrower does not fulfill the obligations of the loan. When a borrower cannot make payments on time, the borrower is not fulfilling the terms of the loan and the lender can foreclose.

For Chapter 13 bankruptcy filers, unsecured debt like credit cards and medical bills can be forgiven whole or in part. Only disposable income, if the bankruptcy filer has any, will go towards the payment of unsecured debts. This gives the filer more money to pay off the debts on the home. The bankruptcy filer then pays what he or she owes the lender over time, usually three to five years, while still making current payments on the house.

Speak to a Bankruptcy Attorney

Only an experienced bankruptcy attorney can help you to decide if Chapter 13 bankruptcy is right for you, or if your lender violated the Truth in Lending Act. Consult with an attorney in your area to discuss your particular situation.

Article provided by Law Offices of David I Steinberg
Visit us at http://www.dsteinlaw.com

ELSE PRESS RELEASES FROM THIS DATE:

Watch Out for Deceptive Home Loan Modification Practices

2011-06-25

Watch Out for Deceptive Home Loan Modification Practices Small businesses claiming the ability to help homeowners with mortgage relief services are popping up all over the country. With many homes underwater (owing more money to the bank than the home is worth) homeowners are jumping at the chance to reduce mortgage payments. So what is the problem with these companies? Many of them are scams. These dishonest businesses and individuals may charge an up-front fee, perhaps for thousands of dollars, and claim they will negotiate with the banks. Instead, they pocket the ...

The Increasing Cost of Automobile Accident Deaths

2011-06-25

The Increasing Cost of Automobile Accident Deaths Each year, more than 30,000 Americans are killed in automobile accidents, according to the Center for Disease Control (CDC). In fact, automobile accidents are the leading cause of death in the United States for those ages 5-34. The High Cost of Automobile Deaths In addition to causing immeasurable loss to the families of these children, teens and young adults, the CDC estimates that these automobile accident deaths are causing around $41 billion in medical expenses and lost work each year. This loss is not evenly ...

Get Help When Debt Spirals Out of Control

2011-06-25

Get Help When Debt Spirals Out of Control If your debt is spiraling out of control, you have choices that need to be made. You may believe your situation is temporary, and before you know it, you'll be back on your financial feet and the problems will go away. If the reason for your financial woes, however, is the downturn of the economy, the loss of a job, or additional medical expenses, these problems may not go away rapidly, and you'll need to come up with a plan. The first thing is not to put off the inevitable. The longer you wait to address your financial problems, ...

Manslaughter Conviction for Drunk Driver

2011-06-25

Manslaughter Conviction for Drunk Driver Man Also Faces Second-Degree Murder Charges After Passenger Was Killed In Wreck A jury will try a San Mateo County resident for second-degree murder after killing a passenger while driving drunk. The man lost control of his vehicle on April 11, 2009, while allegedly speeding. The man drove into a curb, slid sideways into a eucalyptus tree and flipped the car onto its roof. A passenger in the driver's car was killed at the scene of the accident. A jury convicted the man of felony gross vehicular manslaughter while intoxicated ...

Tougher Sentences for Repeat Driving Under the Influence Convictions

2011-06-25

Tougher Sentences for Repeat Driving Under the Influence Convictions A first-time driving under the influence (DUI) conviction carries aggressive sentencing, but when there are aggravating factors, such as previous DUI convictions, the penalties grow even harsher. Approximately 1.5 million drivers are arrested for DUI in California each year, National Highway Traffic Safety Administration (NHTSA) data shows. Of those, about one-third are repeat offenders. In total, more than 310,000 Californians have three or more DUI convictions, according to the NHTSA. Penalties ...

Wisteria Goldens Eases the Training Concerns for New Pet Owners with their Exclusive Puppy Prep AcademyPUPPY

2011-06-25

Wisteria Goldens, top breeders of English Cream Golden Retrievers since 2004, has recently introduced the Puppy Prep Academy to aid new puppy owners in training their pets. "We were hearing from families that wanted a puppy, but not necessarily all the events which come with getting a new puppy; crate training, leash training, and basic commands," says owner Debbie Franklin. "So, we designed a unique training program exclusively for our families, to help puppies make the transition from our home to their new one." Wisteria Goldens' trainer, Melissa, ...

Food Sustainability Trends: Local Sourcing and Carbon Footprints for a Balanced Green Strategy

2011-06-25

If you're looking for an example of the impact of sustainability in the food supply chain, look no further than retail giant Wal-Mart, who pledged last year to dramatically boost the locally grown produce it purchases from small and medium-sized farmers in the U.S. and abroad. Their goal includes tripling local sourcing globally and doubling the local produce purchased in the U.S. Consumer-driven corporate virtue While Wal-Mart's initiative is partly an effort to improve its corporate image by reducing its environmental impact, it is also in response to rising consumer ...

Catalyst Launches New OTC Clearing Webcast: Critical Perspectives On Regulatory Challenges (Including Basel 3)

2011-06-25

The third of four seminal webcasts sharing critical perspectives on regulatory challenges (including Basel 3) is now available. The webcasts are strictly available by invitation only, using the link below. Watch this webcast to find out what it all means for users; are the incentives creating an appropriate model for the market? Discover: o Global legislation and the pace of change in the major financial centres o The new rules: an incentive or disincentive to clearing? o What are the implications for CCPs including the default fund construction? o What happens ...

GO Markets official sponsors of the Australian Motor Sport Foundation

2011-06-25

GO Markets will be lending their support as major sponsor of the AMSF Rookie Rising Star Team for 2011. Since their establishment in 2001, the AMSF have yielded some impressive results. Previously supported AMSF drivers who have gone on to lead outstanding international careers include Will Power (IndyCar), Chris Atkinson (World Rally Championship), James Courtney (V8 Supercars), Will Davison (V8 Supercars), and young gun Daniel Ricciardo who has recently joined the Formula 1 Scuderia Toro Rosso & Red Bull racing team. The AMSF teams will race Formula Ford for the ...

"Permanently Becoming and the Architecture of Seeing" by Julian Schnabel: Maybach is sponsor of the retrospective.

2011-06-25

What have in common Venice, the decadent city of the lagoon, and Maybach, the luxury cars brand of the Daimler AG group? Not much, you'd may think, since in Venice it is not possible to drive wheeled vehicles, especially of the imposing size of the giants from Sindelfingen. But the city and the luxury cars brand share similar traits d'union and, you may say, they have a common vocation for the art, besides their uniqueness, allure and their timeless, incomparable elegance. The ideal union between Maybach and Venice was highlighted by an important retrospective on Julian ...

Get Help From an Attorney When Confronting Foreclosure

ELSE PRESS RELEASES FROM THIS DATE:

LAST 30 PRESS RELEASES: