Every three months, 250,000 new families enter into foreclosure.
One child in every classroom in America is at risk of losing their home because their parents are unable to pay their mortgage.
More than 6 in 10 homeowners delinquent in their mortgage payments are not aware of
services that mortgage lenders can offer to individuals having trouble with their mortgage.
As an experienced and knowledgeable bankruptcy attorney, Michelle Labayen has handled countless foreclosures, as well as loan modifications.
When you’re behind on your mortgage payments and the bank is threatening foreclosure, life is very stressful. Unfortunately, since 2008, millions of homeowners have faced this same crisis.
Debt relief through bankruptcy is often the best, option. Chapter 13 Bankruptcy gives you the option to make payments on your mortgage under the protection of Federal Bankruptcy Court.
Data from 60,000 homeowners was analyzed by the Homeownership Preservation Foundation. The study found some alarming facts. The following is a list of reasons people got behind on their mortgages.
Half of the population of these homeowners are already behind on a second payment. By law, one missed payment can be considered default. Typically, banks will wait three to six months before starting foreclosure actions.
Most homeowners aren’t aware of the options that are available by their lenders. Before taking any other actions, you should contact your bank and request information about your options.
In the event that the options made available by the bank aren’t financially manageable, Chapter 13 Bankruptcy is the next option. That’s where the Law Office of Michelle Labayen, LLC is ready to help.
If you’re facing foreclosure actions on your home, Michelle can help. She has more than 16 years of experience working with homeowners to guide them to their best course of action.
Anyone can qualify to file for bankruptcy. There isn’t an exact amount of debt or financial difficulty required. You don’t have to show insolvency or meet a certain standard.
You should always speak with a lawyer before beginning the bankruptcy process to ensure it’s the best option for you. Michelle Labayen is a knowledgeable and experienced bankruptcy attorney with offices in New York, NY, Miami, FL, and Newark, NJ.