As a homeowner, you never want to learn you could face foreclosure, but events occur that are sometimes beyond your control, causing you to become late on your mortgage payments. Once you get behind a few payments, most banks and other lenders will begin the legal process of foreclosing on your home. This means your home will be auctioned off to the highest bidder and you will be forced to find somewhere else to live. To avoid Foreclosure Beavercreek Ohio, it can be helpful to contact an attorney. Through the help of an attorney, you may be able to delay your foreclosure or avoid it altogether.
How Can an Attorney Help You With a Foreclosure?
If you are in the process of Foreclosure Beavercreek Ohio, an attorney can often help. He or she can contact your mortgage holder and often work out payment arrangements you may not be able to accomplish. Though not always the case, most lenders are more willing to work with a client who has hired a lawyer.
To help you avoid foreclosure, there are bankruptcy options. Before your foreclosure process begins, you can file for chapter 13 bankruptcy. This places an automatic stay on any debts you owe. All of your creditors must immediately cease from any activity to try and gain money from you. This could prolong your foreclosure process by as much as three to four months.
In many cases, a person can file for bankruptcy and prevent going into foreclosure. You can have up to five years for bankruptcy. During this time, you will be required to pay all of the payments that are in arrears. You must also pay your regularly scheduled monthly payments. If your payments are all current at the end of the bankruptcy period, you will not face foreclosure.
If you are dealing with being behind on your mortgage payments and need help, Visit website at Domain. They can provide you with the legal help you need, to help you get out of foreclosure or avoid it completely. Contact them today and schedule an appointment, so you can learn more about your options.