Foreclosure Lawyer Dallas, TX
One of the scariest notices a person can get is one of foreclosure on their home. The thought of losing your home can send anyone in a panic. Security is one of the most basic human needs and you need somewhere safe to live with a roof over your head. When you have worked so hard to become a homeowner, finding out that you could possibly lose your home is devastating. This is why you need to contact a foreclosure lawyer in Dallas, Texas from Leinart Law Firm as soon as you get a foreclosure notice. Your lawyer will have your best interest at heart as you move forward and will be able to help you and your family navigate through this difficult time. They will work tirelessly to see what can be done to prevent the foreclosure from moving forward. There are often several different options for dealing with a foreclosure. Continue reading to learn about some of the options that you may want to choose. Always remember that just because you got this notice does not mean you and your loved ones are going to be out on the street tomorrow. These things take time and you will be able to figure out a plan to protect yourselves and ensure you have somewhere safe to live.
How Foreclosure Happens
Foreclosure is the repossession of a property from a homeowner by the lender. This happens when a homeowner does not make their mortgage payments in time. Some of the most common reasons that a homeowner triggers the foreclosure process is due to a job loss like a sudden layoff, a reduction in steady income, and consecutive missed mortgage payments.
Foreclosure consists of several phases such as default of payment, notice of foreclosure, sale of the property, and the eviction of anyone living in the home. It is a long process, so if you are in the middle of foreclosure it is still possible to halt the process. While borrowers are given opportunities to make up for their missed payments, some circumstances are more complex. If you need assistance stopping foreclosure, it is best to speak with a foreclosure lawyer as soon as possible so that they can determine the best ways to halt the foreclosure.
Three Ways a Foreclosure Can Impact Your Life
If you’re looking for a qualified foreclosure lawyer in Dallas, Texas, you can count on the professionals at the Leinart Law Firm to help you navigate your challenges. A foreclosure happens when a debtor fails to pay back their loan, or violates the terms of their mortgage. But while most people assume a foreclosure can put them out of their home, the consequences can affect more than just your housing.
The threat of foreclosure is very real to homeowners. If you’re facing foreclosure, or you’re getting dangerously close, it’s important to take the time to prepare accordingly. This means weighing the risks, and contacting a foreclosure lawyer in Dallas, TX who can help you hold on to your house. Read on to see how foreclosure can affect your life, and see how the Leinart Law Firm can help.
- Damage to credit. Your credit score is determined by whether or not you make timely payments. And of course, if you fail to make payments on your house, your credit score will suffer. Granted, if you’re dealing with a foreclosure your credit score might be the last of your worries, but having a severely affected credit score will make it harder for you to pick yourself up and start rebuilding. It’ll be more difficult to apply for loans, housing, and even jobs.
- Emotional impact. Of course your foreclosure will cause plenty of stress, but it may also cause embarrassment or shame. Nobody wants to admit to their family and friends that they are in severe financial trouble, and nobody wants to admit that they’re on the verge of losing their house. Stress and shame can weigh on you during an already difficult period in your life, making the foreclosure process that much more challenging.
- Uncertainty. Foreclosures are stressful and painful, but one of the greatest impacts of a foreclosure (aside from losing your house) is the complete uncertainty. If you’re facing a foreclosure, you’ll be struggling to make plans for your future – all because you have no idea if (or when) you’ll be evicted. It’s important to get in touch with a foreclosure lawyer who can keep you updated about what steps you should take, and when.
Your Credit Isn’t Ruined Forever
When you meet with the dedicated Dallas, TX HOA foreclosure lawyer team at Leinart Law Firm, we’ll discuss any and all concerns that you may have related to debt, foreclosure, and credit. We understand that when a homeowner falls significantly behind on a financial obligation, they’re likely navigating some broader struggles that could benefit from guidance and assistance.
One of the most common questions that prospective clients ask our team when meeting with us to discuss foreclosure is, “Is my credit ruined forever?”. While every individual navigates a set of financial challenges that is truly unique, the short answer to this question is almost certainly “no.”
Your credit score, like your credit history, isn’t a fixed reality. There is nothing you can do to ruin your credit forever. There is always the potential to rebuild and rehabilitate your credit and we can help you to take advantage of every opportunity to achieve this end. With that said, it’s important to understand that taking certain actions – and failing to take others – will impact your credit negatively in significant ways. Therefore, while rebuilding your credit is an opportunity that is always available to you, you won’t want to hurt your credit score intentionally unless you have to. Similarly, you’ll want to keep unintentional credit score knocks to a minimum.
Our Dallas HOA foreclosure lawyer team can advise you as to how to keep your credit score and history in increasingly solid shape, regardless of whether your house is ultimately foreclosed upon or not.
Is Filing for Bankruptcy a Good Solution?
If your house is about to be foreclosed upon, we may suggest that you consider filing for bankruptcy. How can bankruptcy help you save your home? As soon as your bankruptcy paperwork is received by the court, the protections of the automatic stay go into effect. The automatic stay prohibits lenders and debt collectors from engaging in most collection actions until after a filer’s bankruptcy case has been fully resolved. As a result, your lender could be prohibited from going after your house until your bankruptcy case is closed.
The protections of the automatic stay are often particularly helpful for homeowners who simply need more time to negotiate with their lenders and/or get caught up on overdue financial obligations. Chapter 13 bankruptcy has a 3-5 year repayment period, which generally grants struggling homeowners plenty of time to find solutions to their temporary financial woes and save their homes in the process.
With that said, bankruptcy is certainly not a “one size fits all” solution for every homeowner whose HOA dues and fees are in need of repayment. If your home and finances are otherwise secure, it may make far more sense for the team at Leinart Law Firm to broker a solution with your HOA instead of filing for bankruptcy. Once you meet with our capable Dallas HOA foreclosure lawyer team, we’ll scrutinize your financial situation and tailor our guidance to meet your unique needs and priorities.
Have You Contacted a Foreclosure Lawyer Yet?
A foreclosure can severely impact your life. It can cause your credit score to hit rock bottom, and it can put a strain on your relationship with your family and friends. And of course, there’s always the looming threat of eviction – you just don’t know when it’ll happen. Fortunately, when you get in touch with a foreclosure lawyer, you get a valuable friend when you’re at your most friendless.
At the Leinart Law Firm, we understand the pressure that a foreclosure can put on you and your family. But we also know how you should fight back against your foreclosure, and how you can do everything you can to hold on to your house. Reach out to a foreclosure lawyer in Dallas, TX today, and see how the Leinart Law Firm can help.
You Can File for Bankruptcy
Filing for bankruptcy often does help eliminate debt for foreclosure. It stops harassment from creditors so that you can get relief. Filing for bankruptcy makes letters from creditors immediately cease, which includes real estate collections. Depending on the chapter of bankruptcy you choose to file for, you may be able to keep your home and restructure your debts. One of the benefits of filing for Chapter 13 bankruptcy is that it stops the foreclosure process from moving forward. Filing for bankruptcy is a great option so that you do not need to worry so much about your debt from your home. There will definitely be a recovery period for this, but it can be the best choice for many people. If you want to explore bankruptcy and other options as a way to deal with foreclosure, reach out to a skilled foreclosure lawyer for a case assessment. One of our experienced foreclosure lawyers will be able to look over all of your debts and determine whether this would be a good option for you.
You May Need to Get a Forbearance Agreement or Loan Modification
If you are struggling to pay for your home every month, you may need to consider getting a forbearance agreement or modifying your loan. A forbearance agreement is a pause on your mortgage payments. Instead of a pause, in other scenarios it can involve reducing your mortgage payment so that they are more affordable. The mortgage servicer authorizes a forbearance for borrowers who are struggling to keep up with their payments. This will involve your lender working with you to come up with a more manageable payment plan. You will hopefully be able to budget your finances more easily to make this debt feel much easier to pay.
Contact a Lawyer Today
If you are facing financial hardships and you are at risk of losing your home, do not wait to contact an experienced foreclosure lawyer. There is still time to take action to prevent foreclosure from occurring. There are legal options available, but you need to act quickly. You should never hesitate to reach out to a foreclosure lawyer in Dallas, TX from Leinart Law Firm with any financial concerns. They will evaluate your case and determine what options you have. When you have a lawyer at your side who wants to achieve the best possible results for you, your chances of having a good case outcome are much higher than if you decided not to get a lawyer. If you get a notice of foreclosure, you need to reach out to us right away so we can help you figure out a good plan to manage your debt and keep your home. Do not wait. The sooner we can do this for you, the better chance you will have at a favorable outcome.
Why is a Foreclosure Lawyer needed?
When a homeowner is behind in payments, the bank will often initiate foreclosure proceedings. Foreclosure is the process of repossessing a home because the owner has stopped making payments. If you are facing foreclosure, you may be able to stay in your home longer by filing for bankruptcy and stopping the foreclosure process. A foreclosure lawyer Dallas TX from the Leinart Law Firm can help you explore your options for keeping your home.
Hiring a foreclosure lawyer can help with many types of scenarios. If you have fallen behind on your mortgage payments due to a job loss, accident injury, or other cause, a lawyer can examine your options and find a way to bring you relief. It is possible to defer foreclosure. When you have a skilled lawyer at your side, they are fully committed to providing you legal assistance so that you can find the best solution for your situation. Do not wait to take action. Learn more about how you can benefit from meeting with a foreclosure lawyer now.
Leinart Law Firm specializes in helping people who are facing foreclosure. To prevent foreclosure and protect your home, you need to retain a lawyer who will fight for your rights. After all, your home is at stake!
Leinart Law Firm is an experienced foreclosure defense team of foreclosure lawyers in Dallas, TX that can help you by:
Filing a Bankruptcy Petition
There are times when the only way to save your home from foreclosure is to file a bankruptcy petition. While bankruptcy will impact your credit score, it could also buy you time to get caught up on your mortgage payments and avoid foreclosure. If you have not been able to catch up on your payments, Chapter 13 bankruptcy may allow you to do so over time through a repayment plan approved by the court.
In a foreclosure proceeding, the bank or lender seeks to take ownership of the property from the borrower. It does not seek to collect on the mortgage. That is handled separately in a foreclosure proceeding — and it is possible that no deficiency judgment will be entered at all.
Challenging the Foreclosure Proceeding
If your bank or lender has initiated foreclosure proceedings against you, we can help you challenge those proceedings and fight for the opportunity to keep your home. We will review all of the documents related to the foreclosure proceeding and identify any mistakes or errors made by the bank or lender. We will then use this information as part of our defense strategy.
The Leinart Law Firm is dedicated to achieving the best possible resolution for you. We know that no two cases are alike, and we will take the time to understand your unique financial situation, goals, and legal needs.
As a bankruptcy law firm with extensive experience in all areas of bankruptcy, foreclosure defense, and loan modification, we represent individuals throughout Texas who are struggling with debt and seeking relief through the bankruptcy process.
Our firm is staffed with experienced foreclosure lawyers in Dallas TX who are experts in the field and will work hard to help you save your home or investment property. Whether you simply need a plan to get caught up on your past due to payments or you need to fight for a principal reduction or loan modification, our foreclosure attorneys are here for you when times get tough.
We take pride in delivering outstanding customer service and results for every client we represent. If you have questions about your foreclosure or mortgage options, contact us today for a free consultation with one of our expert foreclosure lawyers in Dallas, TX. We can review your situation and answer all of your questions at no cost to you.