Real Options For Preventing Home Foreclosure
If foreclosure threatens your home, you need and deserve experienced legal help. You may feel defeated. You may have considered how to strike a deal with your lender on your own, or you may have applied for a loan modification program. While there are programs available that can make it easier to pay your mortgage, their complexity stuns most individuals.
Fortunately, a number of options may still be on the table. At The Law Offices of Richard B. Rosenblatt, PC, we offer skillful advocacy to homeowners trying to save their homes from foreclosure. Founding attorney Richard B. Rosenblatt has more than 20 years of experience seeking — and finding — real solutions.
Call 301-637-0402 to schedule a free initial consultation with one of our experienced lawyers. We serve clients in Maryland, Virginia and Washington, D.C.
What Are Your Options To Stop Foreclosure And Save Your Home?
There really are viable options, even if there is a date for the foreclosure sale. In fact, there are circumstances when we can help you get your home back even if the foreclosure sale has already taken place.
At The Law Offices of Richard B. Rosenblatt, PC, we focus on getting you the time and help you need to resolve the situation. The earlier in the foreclosure process you contact an attorney, the more options will be available.
We will carefully evaluate your situation and give you our experienced advice on which option will be most effective in your situation.
Applying For A Loan Modification
Ever since the foreclosure crisis, the federal government has been pressuring banks and mortgage lenders to put more effort into finding realistic solutions for homeowners. While some of the programs below are no longer available under Federal law, mortgage lenders are still modifying loans using the principles of the programs set forth below:
- Home Affordable Modification Program (HAMP) — designed to lower your monthly mortgage payments
- Home Affordable Refinance Program (HARP) — making refinancing easier and less expensive for those current on their mortgages
- Home Affordable Foreclosure Alternatives Program (HAFA) — provides help with short sales, deeds in lieu of foreclosure and relocation assistance to limit mortgage debt for those who wish to move out
- Home Affordable Unemployment Program (UP) — suspends your payments while you look for a new job
- FHA Short Refinance program — for those who are up to date on their payments but who owe more than their homes are worth (underwater mortgages)
The Law Offices of Richard B. Rosenblatt, PC, can help you with every aspect and detail of applying for a loan modification, either through a government program or directly with your lender. We also help negotiate short sales, deeds in lieu of foreclosure and forbearance agreements.
While mediation is a possibility anywhere, the state of Maryland requires lenders to offer foreclosure mediation services as a last-ditch effort for lenders and homeowners to reach an agreement. In the Maryland process, you, your lawyer, your lender and their foreclosure representative have a one-time opportunity to meet face to face under the supervision of an administrative law judge.
In our experience, the homeowners with the best shot at resolving the situation through mediation are those with applications for loan modifications already pending for at least 30 days prior to the scheduled mediation. This option allows the lender to approve that application at or before the mediation. We are happy to represent any Maryland, Virginia or Washington, D.C., homeowner interested in trying mediation, although we will need to assess your situation carefully to determine whether you are likely to benefit from our services.
Foreclosure Sale Defenses, Exceptions And Civil Litigation
In certain situations, we can help you fight a looming foreclosure sale by filing motions with the court to stay or dismiss the foreclosure case. For example, if the lender has lost crucial paperwork, we may be able to prevent the sale from occurring. If the sale has already occurred, timely filing an “exceptions motion” will halt the ratification of the sale until a hearing can be held to address any deficiencies in the process. If the court finds deficiencies existed in the foreclosure process, then the court could overturn the sale.
Stopping Foreclosure And Saving Your Home Through Bankruptcy
Bankruptcy can be an extremely effective tool in foreclosure cases. By law, filing for bankruptcy puts an immediate stop to foreclosure proceedings and collections. If it achieves nothing else, it gives you months of additional time to come up with a solution. If you have a second mortgage or a home equity loan, you may be allowed to discharge it through bankruptcy.
If you got behind on your mortgage but are now able to make the payments, a Chapter 13 bankruptcy could save your home. In Chapter 13, we work with your creditors to come up with a three- to five-year repayment plan that you can afford. This allows you to bring your loan current by paying off the arrears during that repayment period. Once you complete the repayment plan, your mortgage is up to date.
Get Started Now With a Free Initial Consultation
Our top priority is to help you avoid foreclosure — and it is possible. Contact us online or call our Rockville office at 301-637-0402 or 866-930-0413 to schedule a free initial consultation with a highly skilled foreclosure defense attorney.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.