Many people who once took out second mortgages to help pay down bills, handle home repair or other tasks, expecting that they were operating in a safe housing market and thriving economy, have since found themselves owing much more than what their property is worth or facing burdensome payments they can't maintain. When your debt burden becomes so great that you feel like you are losing more and more ground with every day, it's important to get dependable advice.
Helping Arizona Clients Solve Complex Debt Problems
At the Law Offices of Farnsworth Mortensen, PLLC, in Tucson, Phoenix, and Mesa, we understand the challenges you face. More importantly, we have strategies to help you resolve your problems and get back on track. Our bankruptcy law office has been there for Arizona families for more than 20 years, and our friendly, experienced attorneys can help you get answers to tough questions.
What Are Your Options for Discharging Second Mortgages
When you take out a second mortgage, it is unlike many other cash or credit loans, because if you fail to pay then you run the risk of losing your house. As a result, in an economy such as this where foreclosure rates are skyrocketing, there are families across the state and country making the difficult decision between keeping the lights on or entering foreclosure.
There are certain provisions in both Chapter 7 and Chapter 13 bankruptcy that directly address loan stripping options and discharge of a second mortgage. It is important to talk to an attorney about the specifics of your case if you have questions. But in general, it is worth knowing that if you act quickly and hire an experienced bankruptcy lawyer, you may be able to save your home.
The longer you delay in taking action or getting information about your rights and options, the harder your climb back to financial health may be.
Tucson Mortgage Discharge Attorneys — The Attitude to Help
At our office you are not a number to be moved through the system. We know that the best answer for each person is built specifically on their situation and needs. From our initial consultation, we are building a custom strategy to help you get back on track.
If a second mortgage or impending foreclosure has you on the brink of financial ruin, please call 480-820-3600 or 520-298-3300 or contact our office online to find out how our Tucson bankruptcy discharge lawyer can help.
