Columbus Foreclosure Lawyer
Stay In Your House During This Stressful Time
The collapse of the economy has resulted in millions of Americans losing their homes to foreclosure. If you have a pile of bills that you can’t pay, the stress in your life may already be at an all-time high. The possibility of you and your family being evicted from your own home only adds to that stress. Bankruptcy may be a way for you to stop the foreclosure of your home.
I’m Scott Marlatt, the founding attorney of Marlatt Law Office, serving homeowners in Westerville, Columbus, Delaware, and throughout Central Ohio. Even if you have received a notice of foreclosure or a date for a sheriff’s sale has been set, you may be able to file for bankruptcy and continue to live with your family in your home. You must act quickly. Preventing foreclosure requires the advice of an experienced foreclosure attorney as early in the process as possible.
Consult With a Westerville Debt Relief Lawyer
Filing for Chapter 13 bankruptcy will place an automatic stay on foreclosure proceedings. Mortgage payments must be kept current after the Chapter 13 petition is filed, and the homeowner has between three and five years to catch up on past due mortgage payments.
A less common option is filing for Chapter 7 bankruptcy, which involves liquidating your assets and discharging unsecured debts. This is only a temporary solution, however. You must catch up on past due mortgage payments, preferably before filing, or the foreclosure process will begin all over again.
In other cases, a mortgage modification may be the right step for both borrowers and lenders. Borrowers can negotiate with lenders to obtain loan modifications, which allows them to stay in their homes. The mortgage company may choose to lower your payment by:
- Lowering your interest rate
- Extending the term of the loan
- Placing your arrears at the end of the loan
- Reducing the balance due on the mortgage
Schedule a Free Consultation as Soon as Possible
The most important step to take when you are unable to pay your mortgage and you’re trying to remain in your home is to have your situation reviewed as soon as possible by a bankruptcy lawyer. I offer a free initial consultation in which you can get a lot of your questions answered. Call 614-523-3576 or use my online contact form to schedule a meeting.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.