Protect Your Home by Filing for Bankruptcy. We will help you!
Anyone will be devastated at the possibility of losing their house to foreclosure. Your house is a safe haven, a shelter, a kind of sanctuary, and a major financial commitment. The filing of bankruptcy Chapter 7 or bankruptcy Chapter 13 would stop foreclosure proceedings immediately. When you file for bankruptcy, an automatic stay takes effect, allowing you to stay in your house even though you've already been served with an eviction notice. If you are facing foreclosure, Detroit Bankruptcy Law and the Rita Kostopoulos law office will assist you.
Our team of attorneys is prepared to provide you with legal counsel and assistance reaching relief from your debts as soon as you walk through our doors. We understand how difficult it is to be faced with the possibility of losing your home and we want to present you with a course of action that will help you protect your home and other assets. If you are facing foreclosure, don’t wait another moment to contact Detroit Bankruptcy Law Attorneys.
How Can Filing for Bankruptcy Help Protect My Home?
When late mortgage payments build up over time it leads to foreclosure and then a sheriff sale. Foreclosure is when the lender takes the property back and then sells it in order to receive payment for what is left of the loan. While the first missed mortgage payment won’t lead to this directly, it can sneak up on you faster than you anticipated. The best possible way to protect your home in this scenario is to work with an attorney and file for bankruptcy.
Filing for either Chapter 7 or Chapter 13 will both cease foreclosure actions immediately. The automatic stay is put into effect when you file for bankruptcy – even if you have already received an eviction notice, you will be allowed to stay in your home.
Provided a sheriff sale has not already taken place, you can postpone the sale of your home by filing for bankruptcy before the sale date. The specifics of a foreclosure case may vary depending on which chapter you file. This is what makes it so important to consult with your attorney about your situation. There may be more options available to you than just bankruptcy – for instance, you may be able to file for a loan modification or even deed in lieu of foreclosure. Our team will help you find the best plan for you to reach financial freedom.
Bankruptcy in Michigan
Our firm has helped over 9,000 individuals file for bankruptcy since we opened our practice. We have a deep understanding of the laws and regulations that pertain to bankruptcy and we can create a customized plan of action to represent you and your case. Please reach out now to retain our services if you are facing foreclosure or have been served an eviction notice. Working with the experienced attorneys at Detroit Bankruptcy Law will make all the difference in the outcome of your case.