Stop Foreclosure - Emergency Bankruptcy Filings
Do You Need to Stop Foreclosure in Shoreline WA?
If you are facing a foreclosure on your home in Shoreline, you need to call The Bankruptcy Experts ASAP. We can make sure that the foreclosure is postponed right away and give you the time you need. Stopping all creditors in their tracks. If you are facing huge financial obligation and monetary screw up that is just worsened by your mortgage payments, then you have to call us.
It’s time to consider bankruptcy if your life has been taken over by looming foreclosure, constant badgering phone calls from creditors, lawsuits or garnishments of your wages or property. Or maybe your debt has you trapped due to the amount of each payment and the extent of the debt. There are many kinds of debt that can get you into these situations, including medical bills, credit card balances, falling behind on your mortgage, loans and back taxes owed to the government and even car repossessions.
Bankruptcy Attorney to Stop Foreclosure Near Me in Shoreline WA
Experienced, professional bankruptcy attorneys, understand the difficulties and worries you face. We know your best options. We are here to help and will work with you to alleviate your financial uncertainty. Even before your bankruptcy petition is filed, an attorney can help shield you from creditor harassment. In a non-judgmental and supportive way, we can help you understand your options, the process of filing for bankruptcy, and help lift the burden of financial uncertainty.
Free Bankruptcy Consultation – Call Now (855) 997-4655
Shoreline Bankruptcy Attorney, The Bankruptcy Experts, are dedicated BK Lawyers with over 10 years experience in dealing with the complex issues concerning bankruptcy. We have the skills and expertise to handle any type of bankruptcy problems you might be experiencing. We proudly offer our services to businesses and individuals throughout Shoreline WA and the surrounding areas.
You may feel hopeless, and at the mercy of a faltering economy, but don’t despair. Relief is available, and there is no shame in using the law to protect yourself when you are buried under a pile of debt. You aren’t responsible for the economy, and you didn’t create the mortgage crisis. So use the law to protect yourself and your family.
A Second Chance
Bankruptcy laws are in place to help Americans get a second chance when they are snowed under by economic pressures. You have rights, including the right to be free from harassment by creditors. If your creditors are hounding you, you can make them pay. And if your debt has become more than you can manage, you may be able to file for bankruptcy.
Foreclosures have actually been on the increase since 2008. From 2007 to 2009 around 3 million property owners were dealing with foreclosure. That number has actually tripled in size. This real estate collapse integrated with economic problems and numerous property owners being "upside down" or "underwater" in their houses has actually triggered a realty crisis in the United States.
Americans are turning to submitting Chapter 13 bankruptcy in order to stop an impending foreclosure sale. The initial function of Chapter 13 bankruptcy was to make it possible for an individual who was dealing with financial mess up to put all of their financial responsibility into one big amount which would then be restructured and paid off one month at a time over a 3 to 5 year period.
In general, a Chapter 13 bankruptcy requires more than just a house being "underwater" for a court to rule in your favor. If your revenues is adequate for making your mortgage payments and you have no genuine notable financial commitment, then you most likely will not get approved for a Chapter 13 bankruptcy. Naturally, your scenarios might be various or there might be other conditions that utilize. But simply being "underwater" by your mortgage and behind on your payments is generally inadequate to certify.
If your monetary circumstance is momentarily in disorder because of unexpected expenses, medical emergencies, major car repair work, etc., notifying your loan company is essential. It is very possible that the loan service provider might utilize a short-term deferment of your payments or provide you with re-payment terms which enable you to briefly lessen your payments owed in return for an extension of your home loan. Calling a proficient, educated legal representative-- a real specialist in Shoreline Bankruptcy-- can use you the tips and representation you require when facing such a circumstance.
Stop Foreclosure with a Bankruptcy Lawyer in Shoreline WA
When you submit either a Chapter 13 or Chapter 7 bankruptcy, the court automatically provides an order (called the order for relief) that consists of an "automated stay." The automated stay directs your creditors to stop their collection activities right away. No excuses. If your home is arranged for a foreclosure sale, the sale will be lawfully postponed while the bankruptcy is pending-- generally for 3 to 4 months. Especially when you live in Shoreline Washington or in a nearby city
Nevertheless, there are 2 exceptions to this general guideline:
Motion to raise the stay: If the loan company acquires the bankruptcy court's approval to proceed with the sale (by submitting a "movement to raise the stay"), you might not get the full 3 to 4 months. But even then, the bankruptcy will normally hold off the sale by a minimum of 2 months, and even more if the loan provider is sluggish in pursuing the motion to raise the automated stay.
Foreclosure alert currently filed: Sadly, bankruptcy's automated stay won't stop the clock on the advance notice that a lot of states need prior to a foreclosure sale can be held (or a movement to lift the stay can be sent). For example, prior to offering a home in California, a loan company has to provide the owner a minimum of 3 months' notice. If you get a three-month notice of default, then apply for bankruptcy after two months have actually passed, the three-month duration will elapse after you have stayed in bankruptcy for only one month. At that time the loan service provider might file a motion to raise the stay and ask the court for approval to set up to stop the foreclosure sale. This does not suggest the loan service provider's movement would be offered, but it is best to have a competent lawyer in your corner in an effort to prevent that from occurring.
Many people will do whatever they can to stay in their house for the indefinite future. If that describes you, and you're behind on your mortgage payments with no possible method to obtain existing, the only method to keep your house might be to file a Chapter 13 bankruptcy. Chapter 13 bankruptcy lets you settle the "balance due" (late past due payments) over the length of a payment plan you propose-- five years in some cases. Nevertheless you'll require enough income to a minimum of satisfy your existing home mortgage payment at the same time you're settling the balance due. Assuming you make all the required payments as much as completion of the repayment strategy, you'll prevent foreclosure and keep your home.
2nd and 3rd home mortgage payments:
Chapter 13 may also help you remove the payments on your second or 3rd home mortgage. That's because, if your first home mortgage is secured by the entire worth of your home (which is possible if the home has actually dropped in value), you might not have any equity with which to secure the later mortgages. That allows the Chapter 13 court to "get rid of off" the 2nd and 3rd mortgages and re-categorize them as unsecured debt-- which, under Chapter 13, takes last issue and regularly does not have to be paid back at all. All of this is common in Washington and throughout the region and remember, the time to do something is now.
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