Can You Stop Home Foreclosure and Keep Your House?
When you stop paying a mortgage, your lender can choose to take the house back from you via a legal action called foreclosure. If you have been threatened with foreclosure, or if a notice of foreclosure has already been filed, you may still be able to successfully defend against the foreclosure action and keep your house.
A Unique and Progressive Approach to Legal Services in Leawood, Kansas
At The Mathews Group, LC, home and asset protection is a major focus of our legal practice. If you are late in your mortgage payments — or if you worry that you will start to have trouble due to a mortgage increase associated with an adjustable rate mortgage (ARM), contact The Mathews Group for a free, no-obligation consultation to discuss your legal options.
We operate on a different model than most law firms. We charge a flat fee for almost all legal services, so our clients always know exactly what our services cost and what specific actions we will take on their behalf. We also emphasize constant communication with our clients — we update you regularly to minimize your worries and reassure you that we are hard at work on your behalf.
Negotiations to Obtain Home Loan Modifications
The two primary methods of home foreclosure defense are loan modifications and bankruptcy petitions. Negotiation of a loan modification requires an in-depth understanding of the financial structure of your mortgage, as well as experience negotiating with financial institutions. We will review the terms of your mortgage and your payment history, and advise you about the types of loan medications — both private and government programs — you may be eligible for.
Do It Yourself? If we believe you can successfully negotiate a loan modification on your own — we will tell you so. We do not believe in taking legal fees from people if a simple phone call to the bank will enable you to change your mortgage terms and keep your house.
Bankruptcy Petitions to Protect Your Home
In other cases, a bankruptcy petition may be the only way to defend against a foreclosure action. In both Missouri and Kansas, many people can protect their homes against foreclosure actions via state exemptions for primary residences.
A Chapter 7 bankruptcy discharges most debts and liquidates most assets. However, the home exemption often allows individuals to keep their homes and continue paying their current mortgage. A Chapter 13 bankruptcy reorganizes existing debt and prevents creditors and collectors from harassing you while you pay reduced monthly bills under a repayment plan supervised by the bankruptcy trustee's office.
Questions About Foreclosure Defense? Give Us a Try
Talk to one of our attorneys in a confidential setting, with no obligation to hire our law firm or engage our services. You will never be charged for the first meeting, at which you will receive substantive legal information and advice. Contact us to make an appointment.
