What is foreclosure?
Foreclosure is a process that occurs when a homeowner falls behind on his or her mortgage payments to lenders or financial institutions. Once homeowners fail behind on their monthly payments, lenders initiate legal proceedings to regain possession of the homeowners' properties.
Are there alternatives to foreclosure?
Yes, there are several alternatives to foreclosure. Some of these alternatives include loan modification, debt settlement and in some cases, filing for consumer bankruptcy.
Can bankruptcy stop foreclosure?
In some cases, filing for bankruptcy may put a stop to the foreclosure process. However, the answer to this question will vary person-to-person. For this reason, it is advised that people facing foreclosure in San Antonio consult with a San Antonio bankruptcy lawyer that can review their individual financial situations.
Are you facing foreclosure? If so, contact the Malaise Law Firm and arrange a consultation with an attorney from our team. We would welcome the opportunity to speak with you and will provide you with reliable advice.