Articles Tagged with Foreclosure Defense

MPB Radio BoothI had the pleasure of being a guest again on the Mississippi Public Broadcasting (MPB) show – Money Talks – on April 02, 2013.  It was “Foreclosure Prevention Week” so we spent the hour discussing the process of foreclosure in Mississippi and the options available to consumers to save their home. If you didn’t get a chance to hear the conversation, you can go to their main site and take a look at all episodes – they have a lot of great information on all sorts of financial topics and a lot of great guest speakers.

Be sure to catch their show Tuesday’s at 9:00am on MPB Think Radio. And be sure to save this link to their home page as a favorite.   Thank you Kevin, Chris, and Nancy!  Hope to see you again soon!

Yes and No. In most cases as long as you are up to date on your house payments you can keep your home. If you are not current, the bankruptcy filing protects the home from foreclosure and this could give you the time you need to get caught up, if you were only a couple of months behind.

If you arehouse significantly behind on your house payments, then a chapter 13 is the only way to go if you want to save your home. The most important thing is to file the bankruptcy as soon as possible so they don’t foreclose on your home. Both a chapter 7 or 13 bankruptcy filing stops foreclosure.  The mortgage company would have to then get permission from the bankruptcy court to start the foreclosure process up again.  It’s important to meet with an experienced bankruptcy lawyer to lay out a proper strategy for dealing with your debts in a way that protects the property you wish to keep.

 

At least twice a month I receive calls from homeowners who are in the middle of the modification process with their mortgage company and they get notice of a foreclosure.  Over and over they had been told the modification was still being reviewed.  In some cases they were told they’d been approved.  But all of a sudden they find their home is being advertised in the newspaper and a sale date is set at the courthouse. Mortgage companies review loans for modification and try to foreclosure at the same time.  This is known as “dual tracking”.  They don’t stop the foreclosure process when a mortgage is considered for a modification.  If you are in the modification process with your mortgage company you can never assume that it will be approved or they won’t foreclose.  The foreclosure process in Mississippi is quick, so you can’t trust anything they tell you over the phone.  If you become aware your home is in foreclosure, contact our office immediately.  We can stop the foreclosure sale through filing a Chapter 13 bankruptcy and you can still follow-up with a modification, if needed.  You never want to be in a position of trying to get your home back after the foreclosure.  Better to be safe than sorry and stop the foreclosure before it happens.

I will be teaching in the Millsaps College Community Enrichment program – 2012 Fall Series that is open to the public.  I will be hosting 2 sessions under the section “Money & Business”. Click here to register.

“Who Owns your Home? Mortgage Securitization in Mississippi” will be a 2 class session

Oct 4 & Oct 11 from 6:00pm – 8:00pm.  Millsaps Tuition Cost: $40.00 per person.

This year I have the priviledge of participating in Millsaps College Continued Education program – 2012 Spring Enrichment Series that is open to the public.  I will be hosting two sessions under the section “Money & Business”.  Click here to register

“Who Owns your Home? Mortgage Securitization in Mississippi” will be a 2 class session

April 5 & April 12 from 6:00pm – 8:00pm. Millsaps Tuition Cost: $40.00 per person.