Mortgage Foreclosure

Pennsylvania Attorney Helping You Pay Your Mortgage and Stop Home Foreclosure

Are you behind on your mortgage payments and worried about foreclosure? Worried that you are behind on other bills due to unavoidable expenses? Do you face constant calls about your overdue payments?

If you are worried about catching up on your mortgage and avoiding foreclosure, you should consult with an experienced mortgage and foreclosure attorney. A knowledgeable lawyer can help you sort out your options and show you how keeping your home is an option.

At the law offices of Stanton M. Lacks, Attorney at Law located in Bensalem, and serving Bucks County and Northeast Philadelphia, we have helped thousands of debt-burdened individuals prevent home foreclosure and keep their homes. We offer every new client a free first visit contact our office today to schedule yours.

If you are falling behind on your mortgage or car payments, the worst thing you can do is ignore the problem. You have options to keep your home or car, and we can guide you through the process of deciding which option is best for your specific situation:

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• Have you put your house up for sale? This is what many people do when they anticipate future trouble with mortgage payments. Come see us while your house is for sale. Particularly in this tight housing market, if your house does not sell, it is wise to make alternate plans in advance.
• Are you one or two months behind on your payments? Your bank will probably not negotiate with you at this point, but they may be willing to discuss a payment plan with your attorney.
• Are you three or more months late on mortgage payments? Typically if you get this far behind, your mortgage lender will file a foreclosure action. Contrary to popular belief, you do not actually lose your house on the day the bank files for foreclosure. The process actually takes five to 10 months, during which time you may still have options to keep your home.
• Are you eligible for a formal repayment plan via Chapter 13 bankruptcy? Under Chapter 13 bankruptcy, you work out a formal three to five-year repayment plan with the help of the federal bankruptcy court. Your mortgage lender will be required by law to accept a reasonable payment plan, and you will be able to get back on top of your mortgage payments, catch up with other debts and stop the foreclosure process. Many other debts may also be forgiven.
• Would a deed in lieu of foreclosure be a good option for you? Under a deed in lieu of foreclosure, you actually return the deed to the home to your mortgage lender and then the lender agrees to waive any financial penalties. Using this option, you will lose your home, but you avoid the harsh financial and credit penalties of home foreclosure.

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More Information about Bankruptcy as an Option to Prevent Foreclosure

If you are looking for more information about bankruptcy as a way to prevent foreclosure proceedings, we learn more by clicking on the links below:

• Chapter 7 Bankruptcy
• Chapter 13 Bankruptcy
• Bankruptcy FAQ
• Bankruptcy Information Center

If you still have questions about mortgage payments and home foreclosure, contact Stanton M. Lacks, Attorney at Law immediately to schedule your free initial consultation. Call our office at 215-245-8440, or send us an e-mail.