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Stop Foreclosure Immediately

You may have done everything that you could to stop Foreclosure on your own. But if your lender schedules an auction, you must take steps to stop foreclosure immediately.

Stop Foreclosure Immediately in DC MD VA -- Lee Legal

Before an auction is scheduled, you have lots of foreclosure prevention options. But the only sure-fire way to stop foreclosure immediately is to file Bankruptcy.

File Chapter 13 bankruptcy to stop foreclosure immediately

Bankruptcy is a powerful legal mechanism that enjoins all creditor actions, including a scheduled Foreclosure Auction. You may want to keep the property. Chapter 13 reorganization allows you to make up any missed mortgage payments over a three to five year period. If you can afford your mortgage, plus enough to repay the arrearage, then you will be able to keep the property. Many clients find their lenders more open to a mortgage modification once they file for bankruptcy protection.

Perhaps, however, you can no longer afford the property. If your property has equity, Chapter 13 allows you the time you need to list, market, and sell the property.

Or maybe you’re not yet sure what to do with the property. In most cases, it is not advisable to simply allow the property to sell at foreclosure auction. Keep your options open until you decide on the course of action best suited to your circumstances.

Stop foreclosure immediately — don’t wait until it’s too late

Once your lender schedules a foreclosure auction, it may be too late even to reinstate your loan. Consider filing bankruptcy prior to the scheduling of a sale to save on attorneys fees and costs. But you must absolutely file bankruptcy before the foreclosure auction actually takes place. If you file a minute too late, the property is lost forever.

Lee Legal routinely files emergency bankruptcy to stop foreclosure. Call us at (202) 448-5136 to stop foreclosure in Virginia, Maryland, or Washington, D.C.

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Stop Foreclosure Immediately

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