Jacksonville Foreclosure Defense Attorney
How to Save My Home?
There are 3 main ways to save your home from foreclosure:
- Mortgage Loan Modification - Mortgage modification (or loan re-modification) are popular terms in the current economy. Most of us would benefit from a modification of our mortgage loan. However, this is a voluntary process that can only be done by the lender. There is no way to force a lender to modify your loan.
- Foreclosure Defense - Foreclosure defense is another term that has increased in popularity out of the necessity to slow down the foreclosure process. It is used as a negotiation tool by a foreclosure attorney to pressure the lender into a mortgage loan modification. In general, it is just a stall tactic to buy time to keep a person in their home with hopes that the lender will wake up and offer a loan modification. Unfortunately, this pressure tactic is failing. The mortgage company's look at this strong arm approach like negotiating with a terrorist. If they give in to one and allow a mortgage loan modification then it could open the flood gates.
- Chapter 13 Bankruptcy - A chapter 13 bankruptcy is the only true way to save your home. It has all the power of the Federal Bankruptcy Courts and it forces the mortgage company to take the monthly payment and spread the missed payments over a 5 year period while you are eliminating most other debts.
*Chapter 13 can also be coupled with a mortgage loan modification. We have been filing chapter 13 bankruptcies and requesting loan modifications with success. It just depends on your situation. Please contact a foreclosure attorney at the Law Offices of Keith D. Collier to learn more about how we are using a Chapter 13 with a loan modification to save your home.