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Avoid Foreclosure

To avoid foreclosure the owner of real property must take certain actions governed by state foreclosure laws. Many of these laws are procedural and if followed properly can help a person avoid foreclosure. The foreclosure process can be lengthy. Many times, a foreclosure is started by a lender, but then a successful negotiation takes place in which the owner of property can avoid some of the damages or other financial distress relating to the foreclosure. A qualified attorney can provide very practical assistance to a person seeking to avoid foreclosure, both by negotiating with the lender and by extending the process by understanding the law and procedure.

 

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Legal Articles

  • The Mortgage Forgiveness Debt Relief Act of 2007
    In December 2007, the federal government enacted the Mortgage Forgiveness Debt Relief Act. The Act was meant to provide tax relief to taxpayers who had debt forgiven on their primary residence and to help struggling homeowners.    The Purpose of the Mortgage Forgiveness Debt Relief Act   The idea behind the law was to help homeowners avoid foreclosures by not taxing them … more
  • A Plain Language Explanation of Your Options for Avoiding Foreclosure
    Whether you're in foreclosure now or worried about it in the future, understand that there may be practical ways you can avoid foreclosure.  Today, lenders are more willing than perhaps they have ever been to help you stay in your home and be able to afford your payments.  The most common methods used to bring loans current are described below:  Bring Your Loan Current - … more

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