Home Mortgage Foreclosure and Consumer Bankruptcy
One of the toughest choices anyone can ever face is whether to stay in a home he or she can no longer afford. We have seen many heartbreaking cases involving people struggling to deal with an overwhelming debt load. Recently, the number of these situations that include the prospect or likelihood of home mortgage foreclosure has increased substantially. This is true across Oakland County, Wayne County, Macomb County and other counties in Michigan we serve.
At the Law Offices of Lawrence Lucido & Erica Cicchelli, we will not push bankruptcy on you if you have better options to explore. Granted, most people we see are far enough in debt that other options are limited, but the current mortgage foreclosure crisis has brought other issues into view. Please contact us today if you want to survey your options with an experienced lawyer — including some that may enable you to save your home.
It is absolutely essential that you contact an attorney before a sheriff's sale of your home takes place. Many options may be "off the table," and you lose many rights once this sale takes place.
Chapter 13 Bankruptcy May Allow You To Stay in Your Home
We can talk to you about defenses you may have against foreclosure on your home as well as the implications of bankruptcy on your situation with your lender. One approach that can work in certain situations is to qualify and file for Chapter 13 bankruptcy. Provided we can work out a plan you can afford, you may be allowed to pay home mortgage arrearages over time.
Unfortunately, subprime lending and the tactics of aggressive, often predatory, lenders have put many people in extremely difficult situations, and a loan modification is often not available. We can also explain options for letting the home go, such as:
- Deed in lieu of foreclosure
- Short sale for debt relief
Call 866-552-9210 To Discuss Bankruptcy and Other Options
Many years of experience have given our attorneys the ability to warn you about pitfalls, help you start thinking now about rebuilding your credit, and be honest about just what consumer bankruptcy will and will not accomplish for you. If you are facing mortgage foreclosure in the Detroit area, near Southfield or elsewhere in Southeast Michigan, please contact us today.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
