Phoenix Foreclosure Defense Lawyers

Filing for Bankruptcy in Arizona Can Stop Foreclosure

Many individuals are faced with the prospect of having their homes taken from them through the process of foreclosure. Mortgage companies generally start about three to six months after the first mortgage payment has been missed. Many debtors have very high mortgage payments and foreclosure is not uncommon. When you are faced with foreclosure, you need to learn about the available defense options and how you can potentially save your house and improve your financial situation. Speak with our firm's experienced Phoenix bankruptcy lawyer for further information.

Contact us at (602) 635-9102 for the legal advocate that you need.

Guiding You Through Your Foreclosure Defense Options

When you are in need of defensive actions against your looming foreclosure, our firm is here to help. We can discuss your specific situation in a free case evaluation.

Some of the possible defenses available include establishing that:
  • Terms of the mortgage are unconscionable
  • Foreclosing party did not follow state procedures
  • Foreclosing party cannot prove it owns mortgage
  • You are a service member on active duty

If you are at risk for losing your home, there may be a number of solutions available to you. Filing for bankruptcy is beneficial when you are unable to work out an agreement with your lender that will allow you to remain in your house. You can file for bankruptcy under Chapter 7 or Chapter 13 to either save your home or at least remain in it longer than you would be allowed to otherwise.

Put a Temporary Stop on the Foreclosure Process

When you experience temporary financial setbacks stemming from a medical situation, job loss, or other economic factor, it may cause you to fall behind on mortgage payments. Individuals may face foreclosure because they are unable to resume making regular payments or unable to pay the penalties they have accrued during hard economic times. When facing a foreclosure because of a temporary financial setback, bankruptcy may get you the help you need to get back up to speed.

Because the foreclosure process may be initiated in or outside of court, it can be difficult for individuals to negotiate with their lenders about making arrangements for mortgage payments. When there are no other options in preventing or stalling a foreclosure, filing for Chapter 7 bankruptcy may be an optimal choice. Chapter 7 bankruptcy can temporarily stop foreclosure and/or the sale of your home for 45 to 65 days after filing. This may give you the time you need to catch up on payments.

Alternatives to Avoid Foreclosure

In addition to bankruptcy, you do have several other options to prevent foreclosure.

For example, you could pursue the following:

  • Refinancing into a fixed rate mortgage
  • Negotiating a modification with your lender
  • Creating a repayment plan approved by your lender
  • Agreeing to a deed in lieu or short sale

When you come to our firm, we can carefully assess your situation and help you determine what your best options are. You may need a solid credit score and some financial backing to achieve refinancing or loan modification, making it crucial that you discuss your matter with a foreclosure defense lawyer prior to pursuing any solution. In many cases, bankruptcy may end up being the best possible option to help a family avoid foreclosure and move forward towards a brighter financial future.

Let Us Help You Save Your Home: Call (602) 635-9102

At Leonard V. Sominsky, ESQ., PC, our Phoenix bankruptcy attorney understands the impact that a negative financial situation can have on your life. We encourage you to take action to improve your financial situation, beginning with consulting our firm to review your circumstances and options. We have the experience necessary to help you accomplish a positive result and are devoted to providing the attention you deserve.

Contact us to set up your free case evaluation at your earliest convenience!

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