Mar 26, 2014

Posted by SHANELL CALLOWAY in Uncategorized | Comments Off on Learn How You Can Keep Your Home With the Help of a Foreclosure Defense Attorney in Suffolk County, NY

Learn How You Can Keep Your Home With the Help of a Foreclosure Defense Attorney in Suffolk County, NY

If you’ve begun to miss making payments on your home, you are starting down the path to foreclosure. You’re probably well aware of this fact, but you can’t help it because your mortgage payments are too high. Now you make payments when you can instead of when you should. When you find yourself in this situation, you need help, and you can get it from a foreclosure defense attorney in Suffolk County, NY.

A foreclosure defense is where you get ahead of the bank with legal action. Instead of the bank filing against you in order to take away the home, you use one of the many different defense tactics against the bank. It may even be possible to avoid legal action altogether with the help of a foreclosure defense attorney in Suffolk County, NY.

One of the ways to prevent a foreclosure is to file for bankruptcy. Entering into a Chapter 13 bankruptcy prevents the bank from trying to take the home back. Filing a bankruptcy petition enables the automatic stay which is to prevent creditors from seizing assets while your case is being worked on. It essentially forces the bank to come to the table and renegotiate your mortgage into payments that you can afford. Taking this action also allows you to reorganize all of your debts, letting you pay them off under terms that are favorable to you. It also has the benefit of not being as harsh on your credit rating because you are repaying your debts.

The key to filing bankruptcy is time. You need to file your petition before the bank has a chance to get to court and file foreclosure. If you try to file bankruptcy after the bank has filed foreclosure, it becomes that much more difficult to retain control of the situation. In the event that the lawyer cannot vacate the foreclosure, it goes forward and the bank essentially becomes immune from a bankruptcy filing. This is why it is important to see a lawyer as soon as you know you are in trouble.

For more information on a foreclosure defense, Contact Jeff H. Morgenstern, PLLC today for help.

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