Phoenix Foreclosure Prevention Attorneys
Preventing foreclosure and saving homes in Phoenix, AZ, and the Greater Valley Area. Call (602) 466-9631 to learn more today.
Facing Foreclosure in Phoenix? Finding a Plan That’s Right for You
Your home is probably the most valuable investment you will ever make. It takes a lot of hard work to buy a home. If your home is threatened by foreclosure, you’ll want to do everything you can to protect it.
Foreclosure is a daunting experience, and you may not know where to turn for help. There are some pretty unscrupulous people out there who will pretend to help you when they’re really just trying to rip you off.
Your best bet when facing foreclosure is finding a reputable Phoenix debt relief attorney who will sit down with you and go over all your options. Debt relief can halt foreclosure and put an end to garnishments and harassing phone calls from creditors.
Whichever debt relief option you choose, your attorney will make sure all your paperwork is filed correctly. Your lawyer can arrange an affordable payment plan, so you’ll be able to stop worrying about your finances.
At Hilltop Law Firm, we have decades of legal and financial experience. We’ll help you find the best strategy to avoid foreclosure and save your home.
Our team will be happy to speak with you in our office, or we can arrange an easy Zoom meeting. We offer zero-down payment options.
Call (602) 466-9631 to schedule a FREE virtual consultation today.
Loan Modification
Foreclosure is a collection method that lenders use against a borrower who has fallen behind in their mortgage payments. If the foreclosure process is completed, the homeowner will be forced to move out of their house and the property will be sold to pay off the remaining balance of the loan.
Most lenders prefer to avoid foreclosure if possible. Foreclosure is a lengthy and difficult legal process, and banks usually don’t recoup the full value of the loan. And having too many foreclosures on their books can get banks into trouble with regulators.
After reviewing your financial situation, your debt relief lawyer may recommend loan modification, which involves negotiating with your lender to arrange lower payments. This may include loan forbearance, which means the lender will suspend or reduce your payments for a period of time.
Loan modification generally requires the borrower to make payments for a longer period of time. It may cost the borrower more in the long run, but it can help you save your home, and you won’t have to apply for bankruptcy protection.
Lenders are much more likely to agree to a loan modification when you have an attorney negotiating on your behalf. And your Phoenix foreclosure lawyer can make sure the terms are fair and affordable.
Filing for Bankruptcy in Phoenix
Another way to prevent foreclosure in Phoenix is by filing for Chapter 13 bankruptcy. Chapter 13 bankruptcy will provide an automatic stay, putting an immediate stop to the foreclosure process.
Benefits of filing for bankruptcy include:
- Suspending a foreclosure
- Discharging unsecured debt
- Bill collectors must leave you alone!
With Chapter 13 bankruptcy, you will have 3 to 5 years to pay back overdue mortgage payments. A trustee will be assigned to sell off some of your assets to pay off your creditors, but you may be allowed to keep your home. Under Chapter 13 bankruptcy, you will have to agree to a payment plan.
Under Chapter 13 bankruptcy, the following types of unsecured debts will be discharged:
- Credit card
- Medical bills
- Utility bills
- Payday loans
Experienced Help from a Phoenix Lawyer You Can Trust
Cy T. Hainey and Samantha Hainey have decades of experience in the financial and legal fields. We’ll go over your unique situation to find a debt relief solution that works for you.
We offer a free virtual consultation for all new clients. If you’re interested in a Zoom meeting, someone from our office will be happy to help you set up your virtual meeting in advance.
Call (602) 466-9631 to learn more today.