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Non-Bankruptcy Foreclosure Defense and Loan Modifications

Photo of John Bymaster at Bymaster Bankruptcy Law Offices

Chapter 7 can postpone a foreclosure or sheriff sale to give you more time.  Chapter 13 can entirely fix your foreclosure or sheriff sale situation by forcing the mortgage company to resume taking payments.   However, many times our clients need non-bankruptcy options to stop foreclosure or to attempt a lower-payment loan modification.

We recommend attorneys we work with that are happy to assist you in negotiating loan modifications and representing you in mortgage foreclosure defense.   If you receive a foreclosure lawsuit, it is imperative that you speak to an attorney in a free consultation to discuss your options whether you desire to keep the home or eventually let the home go back to the mortgage company. Call us and we will do a free consultation quickly to address what you need to do.

If you have a mortgage foreclosure, it is very important to have an attorney answer the lawsuit and begin negotiation. If you wait too long, you or your attorney will be at a disadvantage later in the process. You do not want your mortgage company to get a judgment in the matter or set a sheriff sale date if it is avoidable Mortgage companies stop listening sometimes if they get too far into the mortgage foreclosure process.

The settlement conference required in Indiana is NOT the same as the actual mortgage complaint itself: you or your attorney must address both! Remember, even if you ask for a settlement conference, it is not the same as answering the mortgage foreclosure lawsuit. If you do not answer the mortgage foreclosure lawsuit appropriately, the bank will likely quickly receive a foreclosure judgment. This allows the bank to ask the court for a sheriff sale on your house!

You can likely hire an attorney for $800-$1200 to represent you in the mortgage foreclosure: do not make the mistake of going at it alone. An attorney may be able to slow down the process dramatically. The attorney may also be able to negotiate a loan modification in order to get you out of foreclosure.