Foreclosure can be a complicated process that can take many twists and turns. In other cases, particularly since most Arizona homeowners have a trust deed, it can easy for a lender to seize property and the foreclosure process can happen very quickly, leaving you little time to act. In either case, if you have received notice of any foreclosure proceedings, you need immediate and dependable legal guidance.
What You Can Do to Stop Foreclosure
At the Law Offices of Farnsworth Mortensen, PLLC, our Tucson and Phoenix foreclosure attorneys may be able to help you stop foreclosure actions against you and even help you get back on financial track to keep your home. However, you need to know that there is a point of no return in foreclosures, and if you do nothing to protect your home before reaching that point, then even a bankruptcy cannot stop the loss of your home.
Time is of the essence in foreclosure cases.
Dealing With Your Crushing Mortgage Debt
Particularly in a market such as this one, it is rarely in the financial interest of a lender to have to go through the expensive process of foreclosing on a property. However, don't let that fact fool you into thinking that banks won't act. There are things you need to know:
- Lenders can legally initiate foreclosure proceedings on property from the moment a payment is late.
- Lenders do not have to offer loan modifications.
- Trust deeds can make it easy for lenders to take back property.
- Lenders do not have to make accommodations for special needs, job loss or other financially challenging factors.
The other thing you need to know is that you are not helpless in this situation if you act soon enough.
Both Chapter 7 and Chapter 13 bankruptcy provides many homeowners with a pathway to protect their home from foreclosure. By taking action with an experienced bankruptcy lawyer who will put all options on the table for you, you can stop this process before it goes too far and you lose your home.
Contact our Tucson Foreclosure Attorneys
Our team has been helping clients dig out of debt and get back on track for more than 20 years. Find out how we can help you take action to stay in your home and get the debt relief you need to get back on track.
Call 480-820-3600 or 520-298-3300 or contact our attorneys online to set up a free consultation and case review.
