Mortgage Foreclosure Lawyers in Lancaster PA
Foreclosure Defense Attorneys in Lancaster County, PA
Many financial and personal difficulties can cause people to fall behind on a mortgage, resulting in the prospect of foreclosure. Generally speaking, the sooner you take action the better your chances are for working out the situation and stopping the foreclosure process. Facing these problems with a seasoned and trusted foreclosure defense attorney is key. At Lazarus Law, we understand the emotional toll of foreclosure. Our client-centric approach ensures that you will receive personalized attention and support throughout the foreclosure defense process.
Of course, if your goal is stopping mortgage foreclosure and leaving your home, Lazarus Law can also discuss strategies with you, such as Short Sale, Pre-Foreclosure Sale, Selling the Property, and Granting a Deed in Lieu of Foreclosure.
Contact us to explore these options and determine which may make sense in your unique situation. Call Lazarus Law today and begin to map out and take control of your financial future.
Stop Sheriff Sales: Safeguarding Your Home
Lazarus Law will act swiftly and decisively to prevent a sheriff sale and secure your home. We understand that time is of the essence in foreclosure cases, and our proactive approach can make all the difference in preserving your property rights.
Stop Utility Shutoffs: Maintaining Essential Services
Utility shutoffs can compound your difficulties and disrupt your daily life. Lazarus Law recognizes the importance of essential utilities and can take steps to prevent shutoffs. Our goal is to alleviate additional stress and hardship and finding a solution to address your utility issues.
Stopping Mortgage Foreclosure: Keeping Your Home and Other Options
Repayment Plan. Sometimes a simple approach can work. If you have only missed a few payments, a call can be made to your lender to tell them what has happened, with the object of allowing you time to get caught up. There’s nothing to be lost by calling the lender and asking.
Loan Modification; Refinance. With a refinance, you must apply for a new loan with your current lender or with a new lender. If you are approved for the loan, the proceeds of the new loan pay off your current mortgage lender to stop the foreclosure. However, you owe the same amount if not more on the new mortgage. With a loan modification, the lender agrees to change the terms of the loan permanently. It’s possible to negotiate a lower interest rate, longer terms, and a lower monthly payment.
Forbearance Plan. The mortgage company or loan servicer may allow a temporary reduction or a suspension of your monthly mortgage payments. These missed payments will have to be made up through an increase in your future payment amount. If your financial hardship is temporary, a forbearance could be an option. However, as with a refinance and a modification, if you cannot afford to make the payments, skipping a few mortgage payments probably will not resolve your problem.
Filing Chapter 7 Bankruptcy. If it makes sense to remain in your home for a period of time while getting rid of any debts owed on the property, this is an option. Declaring Bankruptcy under Chapter 7 can accomplish this by stopping the foreclosure of the home for several months and clearing other debts.
Filing Chapter 13 Bankruptcy. Another possible solution is by filing a Chapter 13 petition, immediately stopping a foreclosure/sheriff’s sale. This would allow you to catch up your past due mortgage payments in a repayment plan over 60 months. At the same time, you could get rid of most, and perhaps all, of your unsecured debts, while allowing you to keep your home and avoid foreclosure.
Short Sale. If you want to sell your property to get out from under the mortgage, you may also apply for a short sale if you have an interested buyer. The lender agrees to accept a payoff that is less than is owed on the loan to release the mortgage. There are several factors the bank must consider before approving a short sale. In addition, the process can take months.
Whatever path is right for you when facing foreclosure, it's essential to have reputable and trusted foreclosure defense attorneys on your side who can help you to stop foreclosure, prevent sheriff sales, safeguard essential utilities, facilitate short sales, and negotiate loan modifications. Lazarus Law Office is here to be your lifeline in times of crisis, offering expertise, dedication, and the personalized attention you need to protect your home and financial well-being. Don't face foreclosure alone - let Lazarus Law Office be your trusted partner in foreclosure defense.