Three Ways To Address A Pending Foreclosure

Facing foreclosure of your property can be overwhelming, but you should be aware of the options that you have to regain control of the situation. Law Offices of Viviana Cavada in the Fort Worth area is ready to guide you toward financial empowerment by explaining the possibilities ahead of you.

Option #1: Negotiating With Your Lender

In many cases, refinancing your mortgage is one of the first steps to avoid foreclosure. Your lender may agree to lower your interest rate, grant forbearance or work out a long-term repayment plan.

However, some lenders do not permit flexible payment options or put obstacles in your way as you seek refinancing. Furthermore, a minor adjustment might not necessarily match what you can afford. To maximize your chances of coming to an affordable agreement, rely on the support of a steadfast lawyer.

Option #2: Halting Foreclosure With Chapter 13 Bankruptcy

Bankruptcy has allowed many property owners to stop foreclosure. In Chapter 13 bankruptcy, you can receive an automatic stay, which prevents creditors from coming to collect from you — including through foreclosure of your home. This option gives you time to reassess your finances and work out a repayment plan.

However, filing for bankruptcy does not guarantee that you will avoid foreclosure completely. Consult our firm to learn more about how this process may work for you.

Option #3 Freeing Yourself From A Problematic Mortgage

Regardless of whether your financial circumstances have changed since purchasing the property, some people may find that allowing foreclosure to proceed may be the wisest strategy. A mortgage that outweighs your means might burden you for years to come.

Foreclosure does not have to be as dire as it may seem. Many Texas residents find more affordable homes during the process. Instead of fighting to hang on to an expensive property, you could take control of the situation by reaching favorable terms with the lender and making other living arrangements in the meantime.

Review How To Stop Foreclosures With An Experienced Lawyer

For over 25 years, we have helped families and business owners stop foreclosure on their properties. We understand the emotional aspect of this issue, and we are determined to help you overcome the obstacles in your path to financial freedom.

Our experienced bankruptcy and foreclosure attorney can help you figure out which option may be the most appropriate for you at a consultation. Call 817-900-3826 or contact our Haltom City law firm online. We welcome you to explore the possibilities and secure skilled legal representation.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.