Foreclosure Lawyer Phoenix, AZ
With the help of a Phoenix, AZ foreclosure lawyer by your side, you may be able to avoid foreclosure altogether on your house. After all, our lawyers understand that your home is everything. It is where you raise your children. It is where you celebrate holidays. It is full of laughter and tears. Our experienced attorneys want to keep you in that home and are here to provide support in order to avoid foreclosure. Learn more about how our attorneys can help you, and then contact Wright Law Offices for help today.
What Leads To A Foreclosure?
One or two missed payments are not great, but most lenders will not sound the alarms with them if you normally make your payments on time. However, if you start to continuously miss payments, your home may be foreclosed upon. When you miss payment number three, the bank starts to reach out, demanding repayment. If you do not have a Phoenix foreclosure lawyer with you to help, you may feel the best option is to ignore those letters, emails, and calls. This is not the best course of action.
If you continue to ignore the bank and miss payments, they officially take over ownership of your property at missed payment number four. At number five, they sell it. If your lender is unable to receive payments or work with a lawyer to determine a plan, they take ownership of your home. They advertise it for sale for a regulated number of months. It is then put on the market at auction. If it does not sell at auction, the bank will bring in a broker to sell the house. Once someone else officially owns the house, you will be evicted.
What Can I Do?
The moment you realize you will not be able to continue making payments, you should reach out to a lawyer. They know all the laws and regulations around foreclosures, so they can work to keep you in your home. This may look like a loan modification program where your monthly payments are decreased while the term of your loan is increased or it could look as simple as your attorney approaching your lender and negotiating a better payment plan that fits your budget — and theirs!
Each case is unique and must be evaluated on a case by case basis. However, bringing in an experienced attorney as soon as possible is going to be your best course of action. They can provide guidance on which route to take. They can speak with lenders on your behalf. They will complete all the paperwork necessary for the process so you do not have to worry about it. In short, they will work to protect your interests while lenders and banks are only looking to protect their bottom lines.
If you are facing foreclosure, it is important to seek help immediately. Contact a Phoenix foreclosure lawyer at Wright Law Offices for help. They will be able to answer any questions you may have about your case, and they will work hard to keep you and your family in your own home.
Get Help Now From A Foreclosure Lawyer You Can Count On
A Phoenix, AZ foreclosure lawyer knows that expecting that you are going to lose your home is heartbreaking. Especially if this is a place you are raising your family and had hoped to stay at for many years, it can be discouraging and incredibly hard when you can no longer pay your mortgage payments. When this is the case, you may be wondering if there is anything you can do short of paying off everything you owe on the property. At Wright Law Offices, we understand that a foreclosure is more than just losing property. It’s losing a place you have built memories in, where you see your kids run around for the first time, or where you finally feel like you have settled into your forever home. When you are ready to fight for your house, give our office a call to see how we can help.
What options do I have with foreclosure?
It can be difficult to imagine going up against a lender with deeper pockets and actually winning. However, there are options that don’t just involve forking over tens of thousands of dollars immediately. One option you may not have considered is bankruptcy.
How does bankruptcy help?
Bankruptcy can help by providing an automatic stay. When there is an automatic stay in place, this temporarily halts the foreclosure proceedings, so long as you file for bankruptcy before the trustee sale begins. It is also important to understand that the automatic stay does not mean that once it is in place you have nothing to worry about. Instead, consider this time for you and your Phoenix foreclosure lawyer to gameplan what your next move is. If you liquidate assets and your home is one of these, you cannot simply end your financial obligation when it comes to paying off your home and expect to keep it. Instead, your lawyer will want to talk with you about creating a strategy for paying off the loan that works for you.
What else will bankruptcy do for me?
It may sound like an impossibility. How can bankruptcy possibly help you during a home foreclosure? In fact, it can feel like being kicked while you are already down. When the automatic stay is in place, your lawyer can comb through your foreclosure documents in a way that they likely would not have had time to do initially. There are a few things that may happen:
- Your lawyer and your lender working something out regarding your foreclosure.
- You liquidate your assets, do not have to pay your mortgage or your debt, but do not get to keep your home.
- You work with your lawyer to create a repayment plan that allows you to have manageable monthly payments instead of sinking further and further into debt.
You should speak with your lawyer about whether you qualify for Chapter 7 or Chapter 13 bankruptcy and get to work determining what your best course of action should be.
Get Foreclosure Help Today
Learning that you may lose your house can be one of the hardest pieces of information you ever get. However, when you speak with someone from Wright Law Offices, they can point you in the direction to get help. When you are ready to fight your home’s foreclosure, call our Phoenix foreclosure lawyer today.