Have you been a victim of predatory lending?
It is impossible to read the newspaper or watch the evening newscast without seeing more bad numbers on the housing market. By the spring of 2010, 2.8 million homeowners had received a notice of foreclosure, with a million more properties far along the potential foreclosure path. Some experts point to another 5 million properties that are seriously delinquent and facing possible action in the near future. This is clearly a monumental problem for the American consumer and economy as a whole. In fact, simple statistics bear that you might very well be one of those underwater on a mortgage. If this is the case, you do not need to worry because immediate assistance is available from a Houston bankruptcy lawyer.
What exactly is a foreclosure? It is defined as a legal process whereby the rights to a property are taken away from an owner so that can it be sold to secure unpaid mortgage debt and liens against the property. Every situation is different and every bank or mortgage servicer can handle the process on a different timeline, but generally the foreclosure process is begun when payments become delinquent. Within your mortgage paperwork there exists information about how many payments can be missed before your creditor will file a "notice of default." Depending on the loan provider, it could take several months or more - sometimes up to a year or beyond - for the end result of a foreclosure to be felt.
If you are behind on your house payments and have received any sort of correspondence from your mortgage company, it is imperative that you seek legal assistance. Your time will be limited, and the attorneys at Stockton Law Offices are well-equipped to act swiftly and effectively on your behalf. Laws, regulations and procedures are organic and constantly evolving and our firm can make sure that proper steps are taken to protect your financial interests.