You held out for this long but your lender has finally sent you the” letter.” However, the letter talks about consumer debt counseling and mediation. This is part of the Washington Foreclosure fairness act. Lenders must inform you of your rights before a Foreclosure can be processed. Bankruptcy is a valuable option to consider. Understanding and knowing your options will help you to come out ahead.
Bankruptcies are on the decline? You might think so as the economy recovers but bankruptcies are actually on the rise in many areas. If you have recently been sent a letter from your bank or lending institution, it is time to contact an Attorney or consumer debt counselor that is recognized by the court system.
It will become much clearer through the Washington foreclosure fairness act and with the aid of an attorney to be knowledgeable about your rights and responsibilities, and how to save your home. First being in the mediation process actually stops the foreclosure.
Advantage Legal Group offers free seminars in Seattle and around the Puget Sound area. These free seminars cover many options for distressed homeowners. Knowing what options are available to you and what makes sense for your family will give you the confidence to go through the foreclosure process, mortgage mediation process, or short sales process. These are only a few of the strategies that the seminar covers. Understanding your financial situation and the types of strategies that are out there for you will help you to figure out your defense. Is mortgage modification the option for you? What is your best option, deed in lieu of foreclosure, mortgage modification, short sales, mortgage mediation, and what will your Foreclosure defense strategy be.
If after the seminar, you need more information Jonathan Smith a Seattle Bankruptcy Attorney will schedule a free consultation with you to go over even more specific situations.
Additional Financial Resources:
- Better options than a huge down payment
- How long will a bankruptcy keep me from buying a home?
- 8 Smart Money Moves to Make Now
- Are All Debts forgiven in bankruptcy?
- How do I Start a Bankruptcy?
- Is Bankruptcy Embarrassing?