Feldman Law Center – News by Feldman Law Center – Feldman Law Center: If you are considering bankruptcy because of the debt you owe on your house, you probably know something about filing for bankruptcy, but are still checking out the options that you have.
Chapter 7 Bankruptcy, sometimes referred to as a “straight bankruptcy,” is where your non-exempt property is sold and the cash proceeds are given to your creditors. This method of filing for bankruptcy has become more difficult recently, due to new legislation on the issue.
Chapter 13 Bankruptcy allows you to reorganize your debts – consolidating your debts and paying them off, free of interest, over a time period of three to five years. This plan prevents creditors from collecting from you during the terms of the contract, as required by Federal Courts. However, you must have a consistent source of income for this type of bankruptcy to be approved, and you must continue to pay for your monthly living expenses as well as the debts you consolidate.
Although both Chapter 7 and Chapter 13 bankruptcy can help you to get rid of some of your debts, filing for bankruptcy does cost money, and the legal battle can take time. A bankruptcy also stays on your credit report for ten years, marring your credit score, which can affect your ability to rent property or get a job, among other things. It also affects your short-term ability to get credit. In the past, bankruptcy was a popular way of dealing with mounting debts, such as too-high mortgage payments.
Bankruptcy has become an increasingly difficult legal process to complete, it may not actually get you out of your mortgage agreement, and it is a major blemish on your credit history. The attorneys of The Feldman Law Center believe that you have other options, and that you should avoid foreclosure at all costs.
If you have been making late payments on your loan, have a climbing adjustable interest rate, or have not paid interest and fees on your mortgage, one option that you should consider is a loan modification. One of our California loan modification attorneys can help you negotiate your loan agreement with your mortgage company. The attorneys at the Feldman Law Center not only know the latest regulations regarding home loan modifications, but they are able to negotiate a more favorable contract with your lender than you would be able to do on your own. Some positive changes that can result from a loan modification include a lower interest rate on your mortgage, forgiveness of some of the amount you owe, stabilization of an adjustable rate mortgage, negotiation of lower monthly payments, and more.
Not only can the above things result from enlisting the help of a home loan modification attorney, but you can also avoid the expense and time that a bankruptcy would entail. A loan modification will not adversely affect your credit report like a bankruptcy will, and you can stay in your house and retain the money that you’ve already paid towards your mortgage. An attorney at the Feldman Law Center can help you get these results more quickly than you could do on your own, and can save you the hassle of filing for bankruptcy. Contact us today for your free consultation.
About Feldman Law Center
The Feldman Law Center was founded for the purpose of negotiating mortgage loan modifications on behalf of their clients. These negotiations have two major goals; to reduce monthly mortgage payments to a level of affordability for the homeowner and to either stop foreclosure proceedings. The mission at The Feldman Law Center is to provide the highest level of professional service while delivering the best possible result on each mortgage loan modification we negotiate on the behalf of the families we represent.
Having negotiated over 500 attorney driven loan modifications, we realize that each homeowner’s situation is unique and that each modification may require a different approach than the one before it. To that end, we can always call on our 25 years of negotiating, knowledge, and real estate experience to provide the most optimal solutions for each family’s situation. While we are negotiating your mortgage loan modification with your lenders our friendly and compassionate team will keep you updated all the way on how the process is advancing.
The people at The Feldman Law Center completely understand the stress of being behind in your monthly payments and the sleepless nights that can be brought on by an impending foreclosure. Rest assured that we will stand with you all the way through the loan modification process and that we are driven to get the best outcome possible for you and your family. If you are struggling with your monthly payments and worried about the threat of foreclosure, we can help. Call The Feldman Law Center today at 800-588-0425 or visit www.feldmanlawcenter.com.
Resources:
Feldman Law Center: Profile – Business Exchange
Press Release – The Feldman Law Center’s Code of Ethics and Practices
Loan Modification – Feldman Law Center
Feldman Law Center, Mission Viejo CA 92691
Feldman Law Center – The Cream Rises in Loan Modifications
Feldman Law Center – Ten Tips for a Successful Home Loan Modification
Feldman Law Center – Saving Thousands with a Loan Modification – Debt Settlement Combination
Feldman Law Center – Mission Viejo, CA, 92891 – Citysearch
Feldman Law Center – The New York Times gets it About Half Right
Feldmanlawcenter.com – Feldman Law Center Company News
Feldman Law Center
Feldman Law Center Trulia Profile
Chapter 7 Bankruptcy, sometimes referred to as a “straight bankruptcy,” is where your non-exempt property is sold and the cash proceeds are given to your creditors. This method of filing for bankruptcy has become more difficult recently, due to new legislation on the issue.
Chapter 13 Bankruptcy allows you to reorganize your debts – consolidating your debts and paying them off, free of interest, over a time period of three to five years. This plan prevents creditors from collecting from you during the terms of the contract, as required by Federal Courts. However, you must have a consistent source of income for this type of bankruptcy to be approved, and you must continue to pay for your monthly living expenses as well as the debts you consolidate.
Although both Chapter 7 and Chapter 13 bankruptcy can help you to get rid of some of your debts, filing for bankruptcy does cost money, and the legal battle can take time. A bankruptcy also stays on your credit report for ten years, marring your credit score, which can affect your ability to rent property or get a job, among other things. It also affects your short-term ability to get credit. In the past, bankruptcy was a popular way of dealing with mounting debts, such as too-high mortgage payments.
Bankruptcy has become an increasingly difficult legal process to complete, it may not actually get you out of your mortgage agreement, and it is a major blemish on your credit history. The attorneys of The Feldman Law Center believe that you have other options, and that you should avoid foreclosure at all costs.
If you have been making late payments on your loan, have a climbing adjustable interest rate, or have not paid interest and fees on your mortgage, one option that you should consider is a loan modification. One of our California loan modification attorneys can help you negotiate your loan agreement with your mortgage company. The attorneys at the Feldman Law Center not only know the latest regulations regarding home loan modifications, but they are able to negotiate a more favorable contract with your lender than you would be able to do on your own. Some positive changes that can result from a loan modification include a lower interest rate on your mortgage, forgiveness of some of the amount you owe, stabilization of an adjustable rate mortgage, negotiation of lower monthly payments, and more.
Not only can the above things result from enlisting the help of a home loan modification attorney, but you can also avoid the expense and time that a bankruptcy would entail. A loan modification will not adversely affect your credit report like a bankruptcy will, and you can stay in your house and retain the money that you’ve already paid towards your mortgage. An attorney at the Feldman Law Center can help you get these results more quickly than you could do on your own, and can save you the hassle of filing for bankruptcy. Contact us today for your free consultation.
About Feldman Law Center
The Feldman Law Center was founded for the purpose of negotiating mortgage loan modifications on behalf of their clients. These negotiations have two major goals; to reduce monthly mortgage payments to a level of affordability for the homeowner and to either stop foreclosure proceedings. The mission at The Feldman Law Center is to provide the highest level of professional service while delivering the best possible result on each mortgage loan modification we negotiate on the behalf of the families we represent.
Having negotiated over 500 attorney driven loan modifications, we realize that each homeowner’s situation is unique and that each modification may require a different approach than the one before it. To that end, we can always call on our 25 years of negotiating, knowledge, and real estate experience to provide the most optimal solutions for each family’s situation. While we are negotiating your mortgage loan modification with your lenders our friendly and compassionate team will keep you updated all the way on how the process is advancing.
The people at The Feldman Law Center completely understand the stress of being behind in your monthly payments and the sleepless nights that can be brought on by an impending foreclosure. Rest assured that we will stand with you all the way through the loan modification process and that we are driven to get the best outcome possible for you and your family. If you are struggling with your monthly payments and worried about the threat of foreclosure, we can help. Call The Feldman Law Center today at 800-588-0425 or visit www.feldmanlawcenter.com.
Resources:
Feldman Law Center: Profile – Business Exchange
Press Release – The Feldman Law Center’s Code of Ethics and Practices
Loan Modification – Feldman Law Center
Feldman Law Center, Mission Viejo CA 92691
Feldman Law Center – The Cream Rises in Loan Modifications
Feldman Law Center – Ten Tips for a Successful Home Loan Modification
Feldman Law Center – Saving Thousands with a Loan Modification – Debt Settlement Combination
Feldman Law Center – Mission Viejo, CA, 92891 – Citysearch
Feldman Law Center – The New York Times gets it About Half Right
Feldmanlawcenter.com – Feldman Law Center Company News
Feldman Law Center
Feldman Law Center Trulia Profile
RSS Feed