Dealing With Foreclosure and Mortgage Problems
Resolving home mortgage problems and avoiding foreclosure can be difficult — not only is the lender fully protected up to the value of the property securing the debt, but many borrowers find it very hard to think of solutions that do not involve saving the house.
At the Law Offices of Brian J. Tyler, we help people find new ways of looking at their house as an asset and a liability, which opens up new doors toward the resolution of mortgage foreclosure dilemmas. To discuss your situation with an experienced lawyer, contact our office in Harrisburg for a free consultation.
Call 866-435-9451 for an Attorney's Advice in Central Pennsylvania
We help people understand the full range of their alternatives to foreclosure if their mortgage has gone into arrears. Which option is best for you is going to depend on several factors:
- Equity in the house
- Your income and practical ability to bring payments current over a period of time
- Whether your property is increasing or declining in value
- The terms of your mortgage — subprime? adjustable rate? early balloon?
- Your housing needs and stage of life
- Whether foreclosure is ongoing, about to start, or is scheduled to take place within days
Our first goal is to help you understand your real estate investment and your mortgage in practical financial terms. If you conclude that your current arrangement does not make economic sense for your family, we can go to work on the best ways to walk away from it. This sometimes may involve a short sale of the property on terms acceptable to your lender.
If continuing in your home makes sense, we can work toward a modification of your mortgage terms with your lender.
For people committed to keeping their homes, bankruptcy will often represent the best way to spread out past-due payments over time while keeping your house out of foreclosure. To get the maximum benefit out of Chapter 13, you will need a reliable income stream to fund your monthly repayment plan.
Many of our clients are seniors who do not need to own a house, but who have trouble with the decision to let the property go. Once they learn about senior housing options and with the support of their family, however, many become comfortable with the idea of getting out from under the mortgage burden through a negotiated surrender of the property, also know as "deed in lieu" of foreclosure.
At the Law Offices of Brian J. Tyler, we make sure that our mortgage solutions for you are crafted to meet the specific characteristics of your situation. For additional information and a free consultation, contact us in Harrisburg.
