Foreclosure Defense vs. Bankruptcy
OK, so you have been unable to make your mortgage payments, the lender has harassed you for months and is threatening to foreclose and take your home.
You have options.
Chapter 13 Bankruptcy
If you have reviewed our other pages, you probably understand by now that the various methods of declaring bankruptcy have advantages and disadvantages. If you declare bankruptcy today, all efforts to collect from you must cease immediately. You will then work out a plan with your creditors to pay much of your debt over a period of three or five years. This will most likely allow you the leeway to come up with mortgage payments and keep your home. Chapter 7 will not permit you to keep your home.
As reported in the news lately, there have been so many foreclosures nationwide because lenders have engaged in extremely sloppy foreclosure practices. Their lending practices were also sloppy-to-illegal, during the housing boom of a few years ago.
These practices have left debtors in your position with numerous avenues to contest the foreclosure of your home. The lender does not hold all of the "cards" if they have made mistakes or broken the law.
In loan documents and procedures, laws such as the Fair Credit Reporting Act (FCRA) and Truth-in-Lending Act (TILA) were violated. Terms of loans were not clear. Unconscionable and unfair loans were made.
Orlando Loan Modification Attorney
Nardi & Nardi, P.A., may be able to delay or prevent foreclosure and arrange preferable alternatives such as:
- Deed in lieu of foreclosure
- Loan modification
- Short sale
These solutions may actually benefit both sides.
Lenders can't simply foreclose on you. They must follow strict and complicated legal guidelines. Contact Nardi & Nardi, P.A., to avoid foreclosure. Our lawyers are dedicated to the communities we serve.
Our firm offers more than 20 years experience and a high level of personal service. Call the Orlando foreclosure and bankruptcy attorneys at 407-478-0074 today to speak directly with an experienced Orlando, Florida, lawyer or contact us by e-mail to learn more about our services and how we can help you.
Free consultations in bankruptcy and personal injury • Easy access from both Orange and Seminole Counties • Located conveniently off of I-4 • Parking available • Credit cards accepted • Servicios del intérprete disponibles