At The Law Offices of Sirody & Ruben Bankruptcy Center, we understand the stresses and challenges that come with facing foreclosure. Our foreclosure attorney in Woodlawn, MD has extensive experience helping homeowners protect their property and their rights. We will work tirelessly to help you keep your home, and we will explore all available options to help you find a workable solution. If you are facing foreclosure, don’t hesitate to contact our office to schedule a free consultation with our experienced legal team.
What Happens During the Foreclosure Process?
When a homeowner fails to make their mortgage payments, the lender may begin the process of foreclosure. This is a legal procedure that allows the lender to reclaim the property and sell it in order to recoup their losses. The first step in the process is for the lender to send a notice of default, which gives the homeowner a specified amount of time to catch up on their payments. If they are unable to do so, the next step is for the lender to file a notice of sale, which starts the clock ticking on a six-month redemption period. At any point during this period, the homeowner can pay off their debt and keep their home. However, if they are unable to do so, the property will be auctioned off and sold to the highest bidder. Though it is a difficult process, foreclosure does provide some protections for homeowners. For example, they cannot be evicted from their home until after the foreclosure sale has been completed. As a result, they will have some time to find a new place to live.
Foreclosure can be a complicated process, so it is recommended that individuals work with a foreclosure attorney in Woodlawn, MD. If you are facing foreclosure, an attorney can help you every step of the way, and ensure that you are making informed decisions.
How Can Bankruptcy Help Prevent Foreclosure?
When a homeowner falls behind on their mortgage payments, they may eventually face foreclosure. This is a legal process whereby the lender seizes the property and attempts to sell it in order to recoup their losses. Foreclosure can be a devastating experience for the homeowner, potentially leading to homelessness and a damaged credit score. However, filing for bankruptcy has the potential to help prevent foreclosure. Bankruptcy allows the debtor to reorganize their finances and develop a repayment plan. The automatic stay provision also puts a halt to all collection activity, including foreclosure proceedings. As a result, bankruptcy can give the homeowner the time and breathing room they need to get back on their feet and avoid losing their home. Our foreclosure attorney in Woodlawn, MD can help you navigate the process and develop a plan of action that works best for you.
Where Can I Find a Foreclosure Attorney in Woodlawn, MD?
Are you facing foreclosure in Woodlawn, MD? If so, you’ll need the help of an experienced foreclosure attorney. The Law Offices of Sirody & Ruben Bankruptcy Center is a trusted resource for homeowners facing foreclosure. We have years of experience helping homeowners keep their homes, and we can help you too. We’ll work with you to develop a personalized plan to save your home, and we’ll fight for you every step of the way. In addition to foreclosure, we also assist individuals that are dealing with bankruptcy, including Chapter 7, Chapter 13, and more. Contact us today at 410-847-7249 to schedule a consultation. We’re here to help you keep your home and get back on track financially.