West Palm Beach Foreclosure Alternatives Attorney
If you’re drowning in debt and unable to pay your mortgage, your lender may send you a notice of foreclosure. Regardless of the reason that you’re unable to make payments, the idea of losing your home is nothing short of heartbreaking, not to mention terrifying – where will you live, and how will you support yourself, in the future? At the law offices of Bruce S. Rosenwater & Associates, P.A., our experienced West Palm Beach foreclosure defense attorneys can help you to explore alternatives to foreclosure. If you’re worried that you’re at risk of losing your home, call our law firm today to learn more about how we can support you.
Alternatives to Foreclosure
For most people who are facing large amounts of debt, retaining the right to live within their homes is a top priority, and they are willing to do nearly anything to avoid foreclosure. If this sounds like you, we urge you to meet with our lawyers at your earliest convenience. Some alternatives to foreclosure that may be viable for you include:
- Filing for Chapter 13 bankruptcy. During a Chapter 13 bankruptcy, you will work with your creditors to reach an agreement about a repayment plan. Via the repayment plan, you will repay all or a portion of your debts over a three-to-five-year time period. In exchange, you’ll likely be able to retain ownership over many of your assets, including your home.
- Modifying your loan. Another option when you are facing foreclosure is to work with your lender to modify the terms of your loan. This is often advantageous for both parties, as pursuing a foreclosure isn’t cheap for your lender.
- Debt consolidation. Another option if you’re facing foreclosure is to consolidate your debt. This can help you to afford payments on your mortgage.
If losing your home is inevitable, there are still some other alternatives to foreclosure. These include:
- Deed in lieu of foreclosure, where you voluntarily transfer the deed on your home to your lender; and
- Short sale, where you sell your home for less than you owe your lender.
Filing for Chapter 7 bankruptcy is another option – talk to our lawyers about how filing for a Chapter 7 bankruptcy may affect foreclosure proceedings.
Our Foreclosure Defense Attorneys Are Here to Help
At the law offices of Bruce S. Rosenwater & Associates, P.A., our experienced foreclosure defense lawyers understand how scary receiving a notice of foreclosure in the mail can be, especially if you don’t have a good understanding of your options. If you are unable to pay your mortgage and are worried about the future, our lawyers can help. To get started with our team, please call our law office directly, send us a message telling us more about your situation, or visit our law office in person. Our job is to advise you and protect your best interests.