When a person purchases a home, they do all they can to protect it. Paying their monthly payments gives them peace of mind and allows them to work towards their financial goals. Unfortunately, issues can arise that can cause a person to end up getting behind on their mortgage payments. When a person is behind, they can sometimes lose their home to Foreclosure in Lawrence KS. Losing a home to foreclosure can be devastating and once it happens, it can affect a person’s credit, making it difficult for them to be able to purchase a home in the future. Thankfully, there are steps a person can take to avoid foreclosure.
As soon as a homeowner realizes they are going to have problems paying their mortgage payments, they need to immediately contact their mortgage holder. It is important to realize a mortgage holder has the right to begin the foreclosure process when a homeowner is as few as three payments behind. Talking with the mortgage holder can sometimes allow a homeowner to successfully make payment arrangements so they can avoid losing their home.
In some cases, a homeowner finds their mortgage holder simply will not work with them. If this is the case, it behooves an owner to meet with a lawyer to determine their options for avoiding Foreclosure in Lawrence KS.
Bankruptcy is a viable option for helping individuals avoid losing their home. Once a Chapter 13 bankruptcy has been approved for a person, all of the creditors they owe are no longer legally allowed to pursue them for payment. The client’s lawyer will help them develop a structured payment plan, so they will be able to be successful in paying off the debts they owe during their bankruptcy period. As long as their mortgage payments are caught up at the end of the bankruptcy, they are no longer in danger of losing their home.
If you are facing the loss of your home, now is the time for you to take action. Waiting too long can quickly lead to the loss of your home. If you would like the help of a lawyer, contact the office of Business Name.
