If you are behind on your mortgage payments, do not despair. You still have options. If you do not want your home repossessed, here is what you can do.
Talk to Your Lender
If you have overdue payments, then you are in arrears. Talking to your lender can help you figure out where you stand. Once you have a better handle on the situation, you can start looking for help.
Look for a Lawyer
Consulting with a repossession lawyer in Phoenix, AZ can help you work out the solutions that will best serve you. Hiring a lawyer can also help you determine whether your mortgage lender has violated any terms or conditions. If that is the case, then your lawyer can provide you with alternatives to stop the repossession.
Sell Your Home
By selling the home, you can get the funds you need to pay off your loan. If selling the home seems to be the most viable option, then talk to your lawyer about how the process will go, what you will need to do, and what you can expect.
Consider Bankruptcy
One of the many ways you can stop repossession of your home is to declare bankruptcy. Make sure it applies in your case, though. Find a local lawyer with experience in handling cases that involve chapter 7 bankruptcy in Phoenix, AZ. That way, you know what filing for bankruptcy will entail, what it will mean for your finances or business prospects in the future, and how it can effectively stop the repossession of your property. With your lawyer’s help, you will gain a better understanding of the process, prepare for it, and decide if filing for bankruptcy or selling your home offers you better prospects and value.
Find out how you can stop repossession of your property. Ask a repossession lawyer in Phoenix, AZ for advice and help. For a sound financial decision, make an appointment by calling The Law Office of Larry P. Karandreas, PLLC today.