Are you facing foreclosure?
What is a foreclosure?
What are your options?
1. Short Sale
What is a Short Sale?
If you cannot afford your mortgage, you may not be able to stay in your house, but you can avoid losing a lot of money and facing a deficiency judgment. We can help you find a real estate professional who can find a buyer for your house. You may think that your house has lost value in this difficult market and is now worth less than the amount you owe on your mortgage. When you find yourself in this position, the Fournier Law Firm can negotiate with your bank to repay less than the full amount of the mortgage from the proceeds of the sale and to forgive the balance on the note. This is called a short sale. The bank agrees to take less than is owed in exchange for getting paid off at the time of the sale.
2. Bank Negotiation
3. Loan modification
As a last option, we can offer you advice concerning the possibility of you filing bankruptcy. There are two types of bankruptcy that may be available to you. The first allows you to stay in your house for a short period of time, while ensuring that you can walk away from the property without owing any additional money. The second allows you to retain your home, if you can demonstrate that you can pay your mortgage, plus enough to catch up on the arrearage over the next five years.
While there are similarities to all of the many foreclosures that the Fournier Law Firm handles, each client presents different and individual issues. Here, at the Fournier Law Firm we take pride in coming up with individualized and specific solutions for each client. Please contact us today to discuss your
options and to set up your free consultation
*Governmental and institutional solutions to the banking and mortgage crisis are currently evolving. FLF makes no representations concerning the existence, availability and/or eligibility for any particular program.