Being able to buy a home is a major achievement for many people. This is something that people dream about and save up for over the years. When homeownership finally happens, the buyer is often elated with the joy of such a major milestone. The idea that an individual may lose their home because they are having a hard time making mortgage payments can be devastating. When a home is in jeopardy of going into foreclosure, it is important that the homeowner consults with an experienced foreclosure defense attorney to try and save the house. One of the most helpful tools in stopping a foreclosure in its tracks is filing for bankruptcy. This is true even if the foreclosure proceedings are supposed to be happening that very day. The second an individual’s bankruptcy petition is filed is when the automatic stay goes into effect. The automatic stay requires that all collection and contact efforts stop immediately, including a foreclosure. This allows the homeowner some time to determine what the next move will be while maintaining their residence.
Of course, it is important to retain the services of an experienced attorney that has the necessary knowledge to serve an Answer on behalf of the homeowner that allows us to provide defenses, asset counterclaims to determine if the lender even owns the mortgage, obtain all corresponding documentation to the mortgage, and even force the bank to take part in a loan modification program.
If you are concerned about the future of your home, it is important to speak with an attorney to assess all possible options. Contact Koplen Law today.
Matters related to bankruptcy and estate planning are very significant in one’s life and require the services of an experienced attorney. Our firm proudly serves clients throughout Rockland County and New York State. If you need effective legal guidance, contact Koplen Law today to schedule a consultation.