Reducing Your Mortgage

foreclosure defense lawyerLet’s assume for the purpose of this article you own a house and you have a mortgage on your house. Your mortgage may be a 15 year mortgage or it may be a 30 year mortgage. Is there a way you can reduce the term of the mortgage from either the 15 year period or the 30 year period? The answer to that question is yes.

Reducing Your Mortgage Payments

One of the most well known ways of reducing your mortgage payments is to make 13 mortgage payments per year instead of 12. This theory of making an additional mortgage payment once a year has been around for a considerable period of time. What is the best time to make the additional mortgage payment? Experts recommend the additional mortgage payment be made in the month of January. It is estimated if you have a 30 year mortgage and you make 2 payments in the month of January of each and every year, you will reduce the term of your 30 year mortgage to 26 years.

So, how do you find the money to make this extra payment? If you celebrate Christmas or Hanukkah in the month of December, you may be deeply in debt by the month of January. There are two ways of accumulating funds to make this extra mortgage payment. The first is, if you receive a bonus, utilize the bonus to make the extra mortgage payment. The second method is file your tax return early, get your refund quickly and use your tax refund for that extra January mortgage payment.

Lowering Interest Rates

Interest rates on home mortgages fluctuate based on numerous economic factors. You should be aware of the interest rate you are paying on your mortgage. Periodically you should review newspapers or online websites and determine what the current interest rates are. If the current interest rate is more than a point and a half lower than what you are currently paying on your mortgage you should consider refinancing. Over the long run refinancing your mortgage payments may save you tens of thousands of dollars.


homeowner advocatesAlmost all homeowners who purchase a home borrow money from financial institutions for the acquisition of their home. Once the money is borrowed, the mortgage payments start. It is prudent to make those mortgage payments end as quickly as possible.

Low Down Payment Mortgages

foreclosure defense lawyerLow down payment and no down payment mortgages played a significant role in the mortgage bubble that developed during the housing boom in the United States. When the housing market crashed, many of the families who had obtained mortgages with little or no down payment found their homes worth less than their mortgages and they had no ability to make their monthly mortgage payments. The reality of the situation was consumers were buying homes they could not possibly afford to keep over the long run.
Although it is difficult to obtain a no down payment or low down payment mortgage today, there are still avenues available to obtain these types of mortgages.

FHA Mortgage Loans

The Federal Housing Administration (FHA) has a loan program where they provide financial guarantees for individuals to obtain mortgages with down payments as low as 3.5%. Although the FHA actually doesn’t act as a direct lender, this federal agency insures loans by financial institutions that provides the financial institution security to offer low down payment mortgages.

Lower Credit Scores

The FHA will provide mortgages to potential home buyers with credit scores as low as 575. FHA mortgages come with restrictions. To begin with, there are caps on the house price related to the region the house is located in. Secondly, the home must be purchased to be used as a principal place of residence. FHA loans cannot be used to purchase investment property.

When an individual or family obtains a low down payment loan from the FHA, they are required to purchase private mortgage insurance. This private mortgage insurance protects the financial institution in the event the homeowner is unable to make his home payments or there is insufficient equity in the home to pay back the mortgage at time of the sale of the home. This private insurance program requires an up front insurance premium that is part of the underwriting costs of the loan. In addition, the homeowner must make monthly payments. Due to the additional private mortgage insurance premiums, the monthly mortgage payments on FHA loans are usually higher than those of conventional mortgage loans.

Veterans Administration Mortgage Loans

The Department of Veterans Affairs (VA) has a mortgage loan program for members in the military and former military members. This allows men and women who served their country to obtain a mortgage with no down payment. Similar to the FHA, the VA doesn’t actually make the loans. What they do is they provide insurance which motivates private lenders to participate in this program. There are specific eligibility requirements under the VA mortgage loan program. VA mortgage loans also carry fees at the time of closing, however they do not require private mortgage insurance, which is required under the FHA program. VA loans are an attractive means of purchasing homes for Americans who served their country in the military.

Private Financial Institutions

As indicated earlier in this article, low down payment and no down payment loans were part of the reason for the housing bubble that existed in this country for the past seven years. Although banks have become more aggressive in marketing conventional mortgage loans, new government regulations related to the Dodd-Frank Act which go into effect on January 10, 2014, will make it very unlikely financial institutions will pursue these type of mortgage loans in the future.

homeowner advocatesElliot S. Schlissel is a foreclosure attorney with more than 20 years experience fighting foreclosure lawsuits. He represents homeowners with foreclosure problems in the metropolitan New York area.

Mortgage Terms – Part II

foreclosure defense attorneysDifferences Between the Note and Mortgage

A note is signed by the person obligated to make the payments pursuant to the terms of the contract of the promissory note. The person who is obligated to make the payments is not necessarily the same person that owns the property. In some situations a guarantor or other individual who has better credit than the homeowner is required to be on the note. In some transactions where there are two people involved, whether it is a husband and wife or just two individuals are the owners of property, whose names are on the deed and one of those individuals has bad credit only the individual with good credit may be on the note.

A mortgage is a document that is signed by the individuals who own the property. In the large majority of situations, the homeowners execute both the note and the mortgage. However, this is not always the case. Where corporations are involved, the corporate entity that owns the property will usually sign the mortgage. However, the principals of the corporate entity will execute the note.

Mortgages are Recorded

A mortgage needs to be recorded in the county seat of the county where the property is located. The recording of the mortgage creates a record for all those individuals making inquiry as to whether the home is owned free and clear of financial impediments and to ascertain who the lender is.

assisting homeownersElliot S. Schlissel, Esq., is a foreclosure attorney representing individuals throughout the metropolitan New York area whose homes are threatened with foreclosure or in foreclosure. He strives to keep his clients in their homes by litigating the foreclosure proceedings asserting technical defenses and assisting his clients in obtaining mortgage modifications.

Mortgage Terms – Part I

mortgage modification attorneysMost homeowners in the State of New York hire an attorney to represent them when buying or selling a house. The attorney handles the paperwork, deals with the bank lawyer, and the other parties’ attorney. Unfortunately when homeowners fall behind on their mortgage payments, the banks bring foreclosure lawsuits against them. Homeowners will sometimes research their rights on the internet to determine whether they have viable defenses to their foreclosure proceedings. When reviewing the terms of either a summons and complaint in foreclosure or with regard to the financing of a home through a financial institution, at the time of purchase, it is important to know actually what the specific terms utilized by financial institutions mean.

The Note

The loan document or note refers to a promissory note given by the borrower to the lender. The promissory note creates a contract wherein the borrower agrees to pay a certain amount of money to the financial institution pursuant to specific terms. With regard to notes involved in real estate transactions, the length of the repayment obligation is usually 15 or 30 years. The interest rate on the financial obligation determines how much the borrower will have to pay the financial institution each month. In addition to repaying the interest and principal on the loan, taxes and insurance on the residence are usually added to the monthly payment costs.

A simplified way to look at the promissory note is that it is basically an “IOU”. The note actually does not specifically relate to the property involved. It exists on its own as a financial obligation between the borrower and the financial institution. If the borrower does not make timely payments pursuant to the terms of the promissory note the lender can sue the borrower on the note for breach of contract.

The Mortgage

Let’s start with what a mortgage is not. A mortgage is not a “promise” to pay the loan on the property. The mortgage is not any type of promise. The mortgage is attached to the property by the debt created by the note. The mortgage contains language similar to a deed that gives the lender the right to take the property back if the borrower does not make the timely payments pursuant to the promissory note. In effect the mortgage attaches the note to the property and gives the lender a remedy to sell the property in the event the terms of the promissory note are not adhered to by the borrower.homeowner advocates

Home prices are down! Interest rates are at an all time low!! But can you get a loan?

Home prices are down!  Interest rates are at an all time low!!  But can you get a loan?Mortgage rates have reached all time lows. Unfortunately, the mortgage crisis in American has made it extremely difficult for the average American to qualify for these low interest mortgages.

A number of years ago, during the housing boom, if you were breathing and you walked into a mortgage brokers office, you could walk out with a mortgage. Today, only the most highly qualified perspective homeowners can obtain mortgage financing. Recent data from the Federal Reserve System shows more than 25% of all Americans who apply for mortgage loans are being rejected.

Lawrence Yun, the chief economist for the National Association of Real Estate Brokers, recently stated “good borrowers with one or two blemishes on their credit are being denied credit.”

Statistics regarding credit scores concerning Fannie Mae and Freddie Mac financed loans show the average credit score to qualify for a loan has increased from 720 to 760. For Federal Housing Authority loans the average score has increased from 660 to 700.

Down Payments

Today it is necessary that a perspective mortgage borrower have between 15 and 20% of the total cost of the home to qualify for obtaining a mortgage. It should be noted during the boom year in the real estate market all a prospective borrower needed to buy a home was a down payment of Zero!

About the Author

Elliot Schlissel, Esq. is an attorney who assists clients in real estate related matters. He is a former president of the Commercial Lawyer’s Conference of New York. He currently represents numerous individuals throughout the Metropolitan New York area in a variety of foreclosure defense lawsuits and mortgage modification applications.

Twenty Five Million Dollar Mortgage Settlement

The Federal Government has recently settled for 25 million dollars with Bank of America, Wells Fargo, JP Morgan Chase, Citigroup, and Ally Financial with regard to pending litigation concerning their improper activities regarding mortgages.

The cases were initially started in 2010.  Banks were initially found of guilty of signing off on foreclosures without appropriately reviewing them.  The scandal uncovered what has been referred to as robosigning.  Robosigning is where bank officials sign documents without reading them.  Sometimes as many as hundreds of these documents within a day.

Banks Broke The Law

The banks involved in the robosigning scandal broke the law.  As a result of their improper activity thousand of homeowners were evicted from their homes for invalid or nonexistent documentation.

Who Receives the 25 Million?

The exact details with regard to the settlement have not been worked out. However, it is anticipated the money will be allocated as follows:

1.         1.5 billion dollars in cash payments will go to approximately 750,000 qualified homeowners who lost their homes in foreclosure between 2008 and 2011.  This works out to about $2000 per homeowner.

2.         Banks will agree to 17 billion dollars in principle reductions concerning homeowners who have homes that are underwater and are either at risk of default or currently in default on their mortgages.

3.         3 billion dollars will be allocated to homeowners who are currently paying high mortgage raters or have adjustable mortgages.  The adjustable mortgages can be reset to very low interest rates.

4.         The balance of the settlement funds will be utilized for consumer protection programs and to establish reforms with regard to the bank servicing agency.

It is estimated that it will take between eight and ten months to set up a methodology of distributing the funds and establishing who the homeowners are that would have to be compensated.  The settlement will be thereafter put into effect for a period of 36 months.

Federal officials have suggested that the total amount of funds paid by the financial institutions will end up being as high as 39 billion dollars.

This Is Not Enough

Paul Dales, a housing economist recently stated “you are hardly skimming the surface.  It could help some people a lot, individually. But in terms of the big picture, overall economy and housing market, it is really just a drop in the ocean of the problem.  Only the five banks mentioned have agreed to this settlement, while mortgages funded by Fannie Mae and Freddie Mac are exempt.  This cuts more than half of the homeowners from eligibility right off the bat.”

Punishment for Banks

Experts feel that the 25 billion dollars being paid by the financial institutions will not have a significant impact on dealing with the housing crisis in the United States.  While the plan may be flawed, it is a start in the right direction!

Stopping Foreclosure By Filing Bankruptcy

Foreclosure related bankruptcy filing is one of the possible options in dealing with foreclosure problems.  Individuals and spouses can file either Chapter 7 or a Chapter 13 bankruptcies.  The filing of the bankruptcy immediately stops foreclosures from moving forward, stops debt collection practices and stops creditor harassment.  In some circumstances the filing of bankruptcy can eliminate second mortgages.  Call us and we can discuss the types of bankruptcy that are available to you and why filing bankruptcy may be in your interest and other foreclosure defense related options.

Attorneys Who Defend Foreclosures In New York

The Long Island foreclosure defense lawyers at The Law Offices of Schlissel DeCorpo have for more than two decades been representing the families in the courts of Nassau and Suffolk Counties.  The firm helps clients obtain mortgage modifications.  The firm also prepares forensic audits on behalf of clients.  If a foreclosure action is started, the firm submits written answers alleging defenses such as predatory lending, defective foreclosure lawsuits and defective mortgages.  The firm’s attorneys appear in court for settlement conferenceand pressure the financial institutions to give their clients mortgage modifications.

Foreclosure related bankruptcies are another option to deal with foreclosure lawsuits.  Either the filing of a Chapter 7 or a Chapter 13 bankruptcy will bring a foreclosure proceeding to a halt.  Either of these bankruptcies can be utilized to stop foreclosures, stop debt collection, and stop creditor harassment.  Contact the firm for a free consultation.

Strategic Defaults

Walking Away From Your House

Strategic default is the new concept in how homeowners are dealing with mortgages on homes that are underwater.  A strategic default is simply when you stop paying your mortgages.  Many homeowners are considering strategic defaults on their mortgages.  It is estimated that over eleven million homes are now underwater in America.  More than three and a half million homeowners are behind in their mortgage payments.  There are already a million and a half homes currently in the foreclosure process.

The New York Federal Reserve estimates that there are an additional 3.6 million foreclosures that will be taking place in the next few years.  Does it make sense to keep paying a mortgage on a home where it will be many years before the home regains its former value?  A columnist named James Surowiecki recently wrote in the New Yorker Magazine that paying mortgage payments for a home that is underwater is “setting a pile of money on fire every month”.

Mortgage Payments: A Moral Quandary?

For some families there is a moral quandary in making the decision to stop making mortgage payments on a home that is underwater.  Should families be embarrassed or feel they are going to lose respect as they break their mortgage contract obligations and stop paying their mortgage?  Companies utilize the bankruptcy process to default on their financial obligations when they feel it is appropriate.  So why shouldn’t individuals consider it is a business decision as to whether they should pay their mortgage payments when their home is underwater and it is unlikely it will ever get back to its former value at anytime in the near future?

Penalties For Not Paying Your Mortgage

Obviously the first penalty is that your home will eventually go into foreclosure.  However the foreclosure process in the State of New York, as in most other states, is a slow process.  This means you won’t be forced to leave your home in the short run.

The second issue involves your credit score.  Not making mortgage payments will definitely have a negative impact on your credit score.  It is estimated that your credit score will go down a minimum of 85 to 100 points if you default on making mortgage payments.

Strategic default is not something to be taken lightly.  It should be considered as a last option.  Your first option should be to make a mortgage modification.  Mortgage modifications allow you to rework your mortgage to more favorable terms.

If you decide to strategically default you should save the funds that had formally been allocated to make mortgage payments.  This will give you the ability to retain an attorney to fight the foreclosure in court.  It will also give you money for a down payment on an apartment that you may need to rent down the line.

Tax Implications of Strategic Defaults

If a portion of your debt is forgiven by a financial institution the forgiven amount is considered taxable income by the Internal Revenue Service.  You may end up receiving a 1099 from your bank that you will have to declare on your income taxes.  You should talk to a tax professional with regard to how to handle this tax issue.

Strategic defaults are not for everybody but more and more people are making this choice!

Foreclosure Lawyers

If your house is in foreclosures we can help you.  The Law Offices of Schlissel DeCorpo have been helping New Yorkers stay in their homes.  To start with we can help you with the mortgage modifications.  We are familiar with the problems mortgage modification programs have.  We can also assist you with a forensic audit with regard to your mortgage.  Should you be served with a summons and complaint we will appear in court for you and attend settlement foreclosure conferences.  During these conferences we will press the financial institutions to cooperate in giving you a mortgage modification.  We will submit answers to the formal compliant submitted by the banks.  Our answers will allege defenses such as defective mortgagesdefective foreclosure law suitspredatory lendingforeclosure fraud and other real estate related defenses.

We will advise you with regard to all of your foreclosure options.  One of your options may be a foreclosure related bankruptcy.  There are two types of bankruptcies that can be utilized in foreclosure. A Chapter 7bankruptcy and a Chapter 13 bankruptcy.  There are benefits and drawbacks to each of these bankruptcies.  When you file bankruptcy it immediately stops creditor harassment.  All debt collection activity has to come to an end when a creditor receives notice of a bankruptcy filing.  Foreclosure proceedings also are immediately frozen upon the filing of a bankruptcy.  At the end of the bankruptcy process you receive adischarge of your debts.  We educate our clients with regard to reestablishing credit and the end of the bankruptcy.  There are many bankruptcy myths such as you will never receive credit again that are simply untrue.  At your initial free consultation with our office will we describe the bankruptcy process.  We will explain to you what bankruptcy exemptions are and why it may be necessary to file bankruptcy.  Feel free to call us for a free consultation 1-800-344-6431, 516-561-6645 and 718-350-2808.

Falling Home Prices Wreaking Havoc on the Economy

Falling Home Prices WreakingEconomists in the United States are taking the position that falling home prices are a significant problem preventing the economic recovery in the United States. The devaluation of homes in the United States has cost Americans billions of dollars. The declining wealth of American homeowners has had a further negative impact on their confidence that the financial situation will improve in the future.

Richard Curtin, Professor of Economics at the University of Michigan, recently stated “people don’t expect their home to regain value, and that’s really lead to a change in consumer attitudes about the economy that we’ve just never seen before.”

Americans have a confidence problem in their future of their country. They no longer believe that the economy will necessarily improve and financial circumstances will get better. The average income of many American families has declined. The unemployment rate is still over 9%. The expectations for economic growth among Americans have fallen to one of the lowest levels in history.

The Decline of the Real Estate Market

Recent studies by economists have shown the decline in the real estate market affecting all aspects of consumer spending. It is estimated that Americans reduce their spending by $20-$70 a year for every $1,000 decline in the equity in their home. During times of appreciation in real estate, there was a “wealth effect.” The wealth effect made consumers feel that they had liquidity and, therefore, they spent more money. Often more than they actually had. The down side of the wealth effect is, as home values have declined, consumer confidence has declined and there has been a negative reduction in the wealth effect. In other words, consumers feel they’re getting poorer when their houses go down in value and are less inclined to spend money.

Economy Will Eventually Recover

The prevailing view among the economists is that even though things do not look good right now, the economy will eventually get better and Americans will start spending again. Hopefully, appreciating real estate prices will spearhead the economic recovery.

Foreclosure Lawyers

The foreclosure lawyers at the Law Offices of Schlissel DeCorpo can help you if you have a foreclosure problem. Our foreclosure defense lawyers litigate defective mortgages, defective foreclosure lawsuits, predatory lending and all other types of real estate related matters. We can explain the federal laws on foreclosure and how they affect you. We attend foreclosure court conferences for our clients.

In the appropriate situation, we will discuss foreclosure related bankruptcy issues, such as filing a Chapter 7 and a Chapter 13 bankruptcy with you. In bankruptcy situations, there is an automatic stay that goes into effect, ordered by the court, that stops foreclosure from moving forward. In some bankruptcy situations, we can eliminate second mortgages. At the end of the bankruptcy, we can assist you inre- establishing your credit. Feel free to set up a free consultation with us. We will discuss your foreclosure options with you.

Government Turning a Quarter Million Foreclosed Homes Into Rentals

Homes Into RentalsThe President is considering turning a quarter of a million homes taken over by government controlled agencies into rentals. Putting these homes on the market for sale will only further depress the real estate market. The Federal Housing Finance Agency would like to put 250,000 homes that are owned by Fannie Mae, Freddie Mac and the Federal Housing Administration on the market to be rented. These homes have been obtained by government agencies pursuant to foreclosure proceedings. Edward DeMarco, who is currently the acting director of the Federal Housing Agency, has stated that “renting these homes instead of selling them in foreclosure may reduce credit losses and help stabilize neighborhoods and home value.” It is estimated that homes placed on the market for sale in foreclosure sell for 20% less than their actual value.

Foreclosure Crisis Creates Demand In Rental Market

Since the housing crisis started, approximately three million former homeowners are now renting. This has reduced the inventory of homes available to be rented. Families that lose their homes in foreclosure have no choice but to rent. Their credit is ruined by the foreclosure proceedings, they generally have no money for a down payment and their only option is to rent. There are those who claim America is becoming a society of renters. The American dream of owning a single family home may become a broken dream. This dream emanated from the conclusion that owning a home would not only provide you with a stable place to live, but will allow you to develop equity. However, during a time of economic turmoil the value of single family homes has been going down. A home, instead of being a worthwhile investment in real estate for the past few years, has been a horrible investment. Single family homes have been declining in value for the last five years. It is estimated that it may be an additional five to ten years before single family homes start increasing in value. In a market where the value of real estate is going down, renting seems to be the logical choice. Why buy a home today that will be worth less in the future?

I think the Obama Administration is on the right track. I believe instead of foreclosing on homes and selling them at auction, the homes should be rented to prevent the continuing oversupply of homes to the real estate market. This will give the real estate market a greater opportunity to reach equilibrium between buyers and sellers. Down the road, when the real estate market recovers, the government can offer these homes to be sold to their renters or to other worthy individuals or families.

Foreclosure Defense Lawyers

Before your house falls into foreclosure, it is suggested you apply for a mortgage modification. If your mortgage modification program does not meet your needs, unfortunately your home may end up being foreclosed upon. Should you receive a Summons and Complaint in foreclosure, our law office can help you. We will attend foreclosure court conferences on your behalf and speak to the Judge about motivating your financial institution to give you a mortgage modification. We’ll also submit a formal written answer on your behalf. Defenses such as defective mortgages, predatory lending, defective foreclosure lawsuits and other real estate related legal defenses can be interposed on your behalf. Our law firm will use its extensive experience in handling these types of cases, to keep you in your home.

We will also discuss with you foreclosure related bankruptcy options. Filing a Chapter 7 or Chapter 13 bankruptcy may be the best route for you in dealing with your foreclosure situation. Why should you file bankruptcy and the types of bankruptcies available to you would be discussed upon your initial free consultation. Should you file bankruptcy you can sometimes eliminate second mortgages. Bankruptcy will stop foreclosure proceedings from moving forward and stop all debt collection activity against you. Call us for a free consultation.

We will discuss all of your foreclosure and bankruptcy options with you. Our phone numbers are 1-800-344-6431, 516-561-6645 or 718-350-2802. You’ve just visited the Elliot Schlissel, Esq. foreclosure blog.

NY Foreclosure Law Firm Fined Two Million Dollars

NY Foreclosure Law Firm Fined Two Million DollarsSteven J. Baum, P.C. of Amherst, New York, has been fined two million dollars for inappropriate foreclosure legal practices. Steven J. Baum, P.C. is the largest foreclosure law firm in the state of New York. Steven J. Baum, P.C. has agreed, in addition to paying the two million dollar fine, to re-vamp its practices with regard to the handling of pleadings, affidavits and mortgage assignments in New York State and Federal Courts.

The Law Firm has agreed to implement a variety of internal controls regarding its processing and handling of foreclosure proceedings. They have agreed to review original promissory notes received from their clients or custodians of the notes prior to filing new foreclosure lawsuits. These actions will bring the firm in compliance with the order issued by Chief Judge Jonathan Lipman regarding attorneys representing lending institutions.

Mortgage Foreclosure Proceedings

US Attorney Preet Bharara, from the Southern District of New York, stated, with regard to the settlement, “in mortgage foreclosure proceedings, there are no excuses for sloppy practices that could lead to someone mistakenly losing their home.” She stated further that “homeowners facing foreclosure cannot afford to have faulty paperwork or inadequate evidence submitted and today’s agreement will help minimize that risk.”

Baum Law Firm Released from Civil Liability

The Baum Law Firm, upon payment of the two million dollar fine and the imposition of new internal procedures, will be released from potential civil liability under the Financial Institutions Reform, Recovery and Enforcement Act of 1989. The Baum Law Firm acknowledges that it occasionally made inadvertent errors in its legal filings in state and federal courts, which it attributes to human error in light of the high volume of mortgages and foreclosures it handled throughout the State of New York in the wake of the national subprime mortgage crisis.”

It should be noted that this is a settlement. It is not a finding of wrongdoing by the Baum Foreclosure Law Firm. The Baum Law Firm has also agreed to have experienced attorneys supervising all aspects of the preparation of documents and reviewing of documents before they are filed with the courts. In addition, they are implementing a one to two-year training program for their attorneys to bring them in compliance with the rules regarding foreclosure proceedings in the state of New York.

Hopefully, this law firm will live up to its responsibilities in dealing with foreclosure proceedings. Taking a family’s home and putting them on the street is a sad end to the American dream. These proceedings should be handled in a manner that protects the homeowner’s rights and sees to it that homes aren’t wrongly foreclosed upon.

New York Foreclosure Defense Lawyers

The New York City and Long Island foreclosure defense lawyers at the Law Offices of Schlissel DeCorpo can help you if you have a foreclosure problem. Our foreclosure defense lawyers litigate defective mortgages, defective foreclosure lawsuits, predatory lending and all other types of real estate related matters. We can explain the federal laws on foreclosure and how they affect you. We attend foreclosure court conferences for our clients.

In the appropriate situation, we will discuss foreclosure related bankruptcy issues, such as filing a Chapter 7 and a Chapter 13 bankruptcy with you. In bankruptcy situations, there is an automatic stay that goes into effect, ordered by the court, that stops foreclosure from moving forward. In some bankruptcy situations, we can eliminate second mortgages. At the end of the bankruptcy, we can assist you inre- establishing your credit. Feel free to set up a free consultation with us. We will discuss your foreclosure options with you.

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The information you obtain at this website is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your particular legal issue. This is attorney advertising.

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