How To Avoid Foreclosures In Jacksonville FL

When a homeowner cannot pay their mortgage payments or falls behind, foreclosure is the process. Foreclosure can be used by the lender to evict the homeowner, sell the house and collect the loan payment. This process is not likely to begin until the homeowner has failed several months of their mortgage payments. You may feel helpless against foreclosures in Jacksonville FL. Surprisingly bankruptcy can help in such a situation. Bankruptcy and forclosure defense actually work hand and hand. Chapter 7 bankruptcy is often able to delay foreclosure, while Chapter 13 bankruptcy may even save your house. 

The Automatic Stay

An automatic stay is an order of relief issued by the court when you are filing for Chapter 13 bankruptcy or Chapter 7 bankruptcy. This order requires creditors to stop all collection activities immediately. This means that your home will automatically be put up for sale if it is already scheduled. The lender may ask the court to allow the sale to go ahead. If the foreclosure notice has been filed, the automatic stay will not apply. These issues aside, bankruptcy can delay the sale for at most a few months.

Chapter 13 Bankruptcy & Foreclosure

Chapter 13 bankruptcy allows debtors the option to repay their “arrearage” or late unpaid payment through a repayment program. This plan can last up to five years. You will need to have enough income to pay your mortgage and the arrearage. This will prevent foreclosures in Jacksonville FL and allow you to keep your home.

Chapter 7 Bankruptcy & Foreclosure

Filing for Chapter 7 bankruptcy may help to halt the foreclosure sale of the home. It also gives you the opportunity to negotiate with the lender for two or three additional months. You can still live in your home while you file for Chapter 7 bankruptcy. You can sometimes stay in your home for several months after you file bankruptcy. The money saved can be used to buy new housing. Chapter 7 bankruptcy is a popular option because it eliminates all mortgage debt attached to the home following foreclosure. This includes mortgages and home equity loans. Chapter 7 bankruptcy will not erase your personal liability. However, it will eliminate the lien. The mortgage lien will remain on the property, which means you’ll likely have to sell the house that was used as collateral. There are ways to use your equity and exemptions, as well as state laws concerning homesteads, to help you keep your home. These issues can be addressed by your bankruptcy lawyer in Jacksonville FL.

It is easy to feel like you are out of options when faced with foreclosures in Jacksonville FL. You still have options. One option is to strategize for success and transition. We can help you plan for the future and provide guidance, support, and legal representation.

Navigation Can Be Easier With A Guide

We can help you work with your lender, negotiate a smooth exit, or force the lender to prove their case.

Legal Protections  

There are protections available to homeowners just like you. You may be able to remain in your home during the proceedings. It is possible to reach a settlement without going to court. We can help you with the following:

  • How to work with your lender
  • Alternatives to Foreclosures
  • The foreclosure process
  • You may have legal defenses.

Working From Home

Bankruptcy can be a very effective way to stop foreclosures in Jacksonville FL. However, certain circumstances may make bankruptcy impossible. There are options for bankruptcy that can help individuals and families avoid foreclosure or make the transition through it. These are just a few options for bankruptcy:

  • Apply for mortgage modification
  • Application for a Forbearance Agreement
  • Secure time for a smooth transition

It is possible to manage foreclosure when it is inevitable. The terms of your foreclosure transition are not set by lenders. We represent your interests and work to get the time that you need to help your family move forward.

Protecting Your Rights In A Forclosure

You may engage in court-ordered mediation to resolve any issues that might arise during the foreclosure process. We can file foreclosure defenses on your behalf if the process is stalled. This will allow the lender to investigate potential problems and give you extra time to resolve them. Depending on your circumstances, some defenses may include:

  • Lender’s failure provide 30 days right of cure
  • Bank misapplication of payments
  • Truth in lending violations
  • Mortgage fraud
  • RESPA violations

Contact us for a complete review of your foreclosure situation and to discuss your options. To discuss your individual situation, we offer a complimentary consultation.

Contact Bruner Wright P.A.

Bruner Wright P.A. is a top-rated experienced law firm servicing the North Florida and the South Georgia area. Our practice has been very successful in helping people discharge their debts and handle both bankruptcy and foreclosure. We offer a personal service that is comprehensive and thorough in all aspects of our industry. We are responsive to the needs of our clients.

Our Service Areas

Contact us today to schedule a consultation to speak to a bankruptcy attorney about bankruptcy and foreclosure. A member of our team will review your case to help you make the right choice. We are focused on personal chapter 7 bankruptcy, chapter 13 bankruptcy foreclosure, and business bankruptcy chapter 11. We want you to achieve financial stability.