If you depend on your car and home for your life and survival, then facing a foreclosure – repossession can be a nightmare.
Let the Remboldt Law Firm, LLC help.
If you feel like you may be starting to miss payments, don’t wait – please contact us now! It is much easier to save your home from foreclosure and car from repossession now than it is to get it back later.
What is Foreclosure?
Foreclosure is the legal process by which a lender gets a court ordered termination of a home owner’s right to pay off the mortgage. Usually when a person buys a home, the lender obtains a security interest from a borrower in the home. The borrower pledges the home to secure the loan from the lender. If the borrower does not pay the loan, the lender tries to repossess the property. The court may grant the borrower the equitable right of redemption if the borrower repays the debt. While this equitable right exists, the lender cannot be sure that it can successfully repossess the property, thus the lender seeks to foreclose the equitable right of redemption.
Other lien holders can also foreclose the owner’s right of redemption for other debts, such as for overdue taxes, unpaid contractors’ bills or overdue homeowner association dues or assessments.
If you have filed multiple bankruptcies – you need to discuss how this may impact your rights to stop creditors actions. You should seek the consultation of an experienced bankruptcy attorney.