What Should I do if I Have Received a Foreclosure Notice?

As a homeowner, there is nothing more frightening than receiving a notice of foreclosure. While you understand you have several assets and debts you must pay, losing a house is something most people feel is unacceptable. However, receiving a foreclosure notice is an extremely pressing matter, which is why if you find yourself in this situation, you must understand your options and hire an experienced attorney who knows how to shield you from a foreclosure action. If you have recently received a foreclosure notice, please read on to learn more about what you can do to protect yourself.

What can a bankruptcy attorney do to protect me from foreclosure?

Fortunately, a knowledgeable and aggressive bankruptcy attorney can analyze your specific situation and determine the best way forward from there. If you are being sued by your mortgage lender with a foreclosure lawsuit, we will do the following:

  • First, we will serve an answer and a notice of appearance on your behalf.
  • We will then state that all defenses must be communicated within 30 days of the lawsuit.
  • Next, we will demand all mortgage loan-related documentation, such as the chain of title of your mortgage, your payment history, and more.
  • From here, the banks should participate in a loan modification program to reinstate your mortgage, reduce your interest rate, reduce your mortgage principal, mitigate your monthly payments, or extend your mortgage to either 30 or 40 years.

Can bankruptcy save me from foreclosure?

Fortunately, our attorneys can file a bankruptcy case and halt a foreclosure even minutes before the sale takes place. When you file for bankruptcy, an automatic stay goes into effect, immediately halting any collection activities. From here, we will devise a plan that best suits your situation to help you get back on your feet again. We understand how scary the thought of losing your house can be. Fortunately, by contacting our firm, you drastically increase your chances of protecting your family and returning your life to normalcy once again.

Bankruptcy may also protect many of your other assets as well, including: pensions, IRAs, retirement accounts, bank accounts, up to $10,000 worth of your clothing, furnishings, and household goods, life insurance policies, and more. If you believe you are ready to file for bankruptcy, please contact our skilled, seasoned firm today. We are here to help.

Contact our experienced New York firm

Bankruptcy, for many people, is a frightening endeavor. Fortunately, with the help of an experienced attorney, it does not have to be. If you require the services of an experienced Business Law or Bankruptcy attorney, contact the Law Offices of Allen A. Kolber, Esq. today to schedule a consultation and discuss your options. We will have your back every step of the way.