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Can Homeowners Avoid Foreclosure in Hamilton OH


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Most homeowners take a concerted approach to working to pay off their mortgage as soon as they can. Unfortunately, unforeseen life issues can arise and cause a person to get behind on their mortgage. While individual mortgage companies have different operating methods, the vast majority of mortgage holders will begin the foreclosure process as soon as a homeowner is behind on three payments. Though foreclosure can be difficult to face, there is a way out for some homeowners. Through bankruptcy, one can avoid losing their home to Foreclosure in Hamilton OH.

When a homeowner is behind on their mortgage, it is crucial they do not ignore the collection attempts that will soon begin. It is advisable a homeowner contacts their mortgage holder to attempt to work out satisfactory payment arrangements. In the event arrangements cannot be made, homeowners in danger of losing their home should contact a bankruptcy attorney to determine their options for avoiding Foreclosure in Hamilton OH.

There is one type of bankruptcy that allows a person to save their home from foreclosure. Chapter 13 bankruptcy causes all collection activity to be ceased by law. This bankruptcy type allows a homeowner plenty of time to catch up on their mortgage payments that are in arrears and keep their monthly payments current. The time period given for repayment is generally two to five years, depending on the amount of debt a homeowner owes and how much income they make each month.

The bankruptcy lawyer will meet with the homeowner to determine whether or not they are a good candidate for chapter 13 bankruptcy. There are restrictions that can prevent some people from pursuing this option. Meeting with a lawyer for a consultation appointment will allow a person to find out if they can overcome foreclosure through this method.

If you are facing foreclosure on your home, contact Dean Snyder Attorney At Law. He will be happy to meet with you to determine your financial needs and whether or not bankruptcy is a viable option. Call the office today and ask them to schedule you a consultation appointment so you can get started.

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