Home Foreclosure Lawyers in Surprise, AZ — Fighting to Keep Our Clients in Their Homes
Everyone remembers the difficulties that followed the Great Recession that began in 2008. Unfortunately, economic troubles have sprung up again across much of the country. In fact, Arizona was hit particularly hard. If you suffered due to the financial downturn and are at risk of losing your property, a home foreclosure lawyer in Surprise, AZ may be able to help.
At The Dodds Law Firm, our team of legal professionals understands the long-term ramifications of having your home stolen by the bank. Living through this does more than just take your home away. It takes away your peace of mind and security. Unfortunately, foreclosure rates in Arizona were twice the national average even before the pandemic wreaked havoc on the economy.
However, you do have options available. Contact our Surprise home foreclosure attorneys today.
Is It Possible to Stop the Foreclosure Process in Arizona?
When someone receives a foreclosure notice, they may think they’re out of options. After all, it often takes many missed payments and financial difficulties to get to this point. However, it’s important to know that there are several approaches that may be able to prevent foreclosure and even stop it in its tracks. These strategies include:
- Loan modification
- Repayment plan
- Short sale
- Deed in lieu of foreclosure
Which of these options works best in your situation will depend upon your unique circumstances. It’s also worth noting that these strategies are not always mutually exclusive. For instance, a court may order a repayment plan or loan modification as a condition of bankruptcy filings. It’s important that you understand your situation in order to make the best decisions.
The Dodds Law Firm can assist in this endeavor. Contact our home foreclosure attorneys in Surprise today to learn more.
How Can Chapter 13 Bankruptcy Help With Foreclosure?
Filing for a Chapter 13 bankruptcy can provide foreclosure relief. Simply submitting paperwork will result in an automatic stay being issued. This alone will stop the foreclosure process in its tracks. However, this is only a temporary stay. The reason Chapter 13 is beneficial in this situation is that it allows homeowners to catch up on payments and keep their homes.
Unlike Chapter 7 bankruptcy, Chapter 13 does not eliminate debts. So, why wouldn’t someone opt for Chapter 7 instead? The fact is that Chapter 7 bankruptcy is not likely to stop foreclosure other than the temporary reprieve provided by the automatic stay. This means you’re still likely to lose your home.
With Chapter 13, the courts offer several options for catching up on payments and keeping your property. Contact our home foreclosure lawyers in Surprise, AZ today to see if bankruptcy is right for you.
What Are the Disadvantages of Bankruptcy for Home Foreclosure?
While bankruptcy is a promising option for stopping home foreclosure in Surprise, AZ, it’s important that you know what you’re getting into. For instance, a repayment plan created to protect your home could take three to five years to repay. A person will also need a regular income to be eligible, and if they fail to make the court ordered payments, the stay on the foreclosure process may be lifted.
Clearly, using bankruptcy to stop home foreclosure can be a complex process. This is why you should seek an experienced legal practice to assist you. At The Dodds Law Firm, our attorneys will help you review all your options and make a more informed decision. Bankruptcy may be the best option for you, but let our legal professionals review your case to see if there are any alternatives available. Contact us today.
Contact Our Home Foreclosure Lawyers in Surprise Today
Everyone deserves the peace and security of having a roof over their head. Unfortunately, this can be threatened if you fall behind on mortgage payments due to financial troubles. However, receiving a foreclosure notice does not mean losing your home is a foregone conclusion. With the right legal team, you may be able to stop the process before losing your property.
At The Dodd Law Firm, we’re committed to keeping our clients in their homes. We understand that what you’re going through is scary, and you may be unsure of how to proceed. The important thing is to not let the banks control the situation. Let our law firm review your case and identify your best options.
Contact us today by calling (623) 267-0026 to schedule your confidential consultation. Our home foreclosure lawyers in Surprise, AZ are ready to assist.