What is Foreclosure?
If you fall behind in mortgage payments, the lender or bank can foreclose on the property. The process gives the bank legal ownership of the property.
What are my options if I face foreclosure?
The options are far greater than you may realize. We can put a stop to foreclosure up until the minute before the bank forecloses on your home.
Can we stop foreclosure?
Yes. We can stop a foreclosure up until the moment it takes place. Of course, working with a competent attorney before the last minute is up is best. If you face foreclosure, the sooner we begin working together, the better available options exist to halt foreclosure.
How long is the foreclosure process?
In Massachusetts, the foreclosure process is fairly quick and takes as little as 90 days to complete. In the surrounding states, the timeline differs a bit based on state laws.
What are the ways to stop foreclosure?
As a practicing Debt Assistance and Bankruptcy attorney in Massachusetts, we offer a variety of solutions to stop foreclosure such as:
- Loan modifications
- Short sales
- Bankruptcy filing
- Working directly with the bank.
Do I have to pay the deficiency/difference?
Typically, yes. If the foreclosure goes through and amount is still owned the bank is allowed to collect on what is still owed. We can address this issue and make sure this is something you will never have to pay.