Phoenix Foreclosure Defense Lawyers
Filing for Bankruptcy in Arizona Can Stop Foreclosure
Many individuals are faced with the prospect of having their homes taken from them through the process of foreclosure. Mortgage companies generally start about three to six months after the first mortgage payment has been missed. Many debtors have very high mortgage payments and foreclosure is not uncommon. When you are faced with foreclosure, you need to learn about the available defense options and how you can potentially save your house and improve your financial situation. Speak with our firm's experienced Phoenix bankruptcy lawyer for further information.
Contact us at (602) 635-9102 for the legal advocate that you need.
Guiding You Through Your Foreclosure Defense Options
When you are in need of defensive actions against your looming foreclosure, our firm is here to help. We can discuss your specific situation in a free case evaluation.
Some of the possible defenses available include establishing that:
- Terms of the mortgage are unconscionable
- Foreclosing party did not follow state procedures
- Foreclosing party cannot prove it owns mortgage
- You are a service member on active duty
If you are at risk for losing your home, there may be a number of solutions available to you. Filing for bankruptcy is beneficial when you are unable to work out an agreement with your lender that will allow you to remain in your house. You can file for bankruptcy under Chapter 7 or Chapter 13 to either save your home or at least remain in it longer than you would be allowed to otherwise.
Put a Temporary Stop on the Foreclosure Process
When you experience temporary financial setbacks stemming from a medical situation, job loss, or other economic factor, it may cause you to fall behind on mortgage payments. Individuals may face foreclosure because they are unable to resume making regular payments or unable to pay the penalties they have accrued during hard economic times. When facing a foreclosure because of a temporary financial setback, bankruptcy may get you the help you need to get back up to speed.
Because the foreclosure process may be initiated in or outside of court, it can be difficult for individuals to negotiate with their lenders about making arrangements for mortgage payments. When there are no other options in preventing or stalling a foreclosure, filing for Chapter 7 bankruptcy may be an optimal choice. Chapter 7 bankruptcy can temporarily stop foreclosure and/or the sale of your home for 45 to 65 days after filing. This may give you the time you need to catch up on payments.
Alternatives to Avoid Foreclosure
In addition to bankruptcy, you do have several other options to prevent foreclosure.
For example, you could pursue the following:
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