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Glendale Home Foreclosure Attorney
Home Foreclosure in Glendale, AZ
Home Foreclosure Attorney in Glendale, AZ
Facing foreclosure is never easy. It involves a complicated legal process, which is why you will likely have several foreclosure questions. Have these questions answered by contacting us at Glendale Bankruptcy Attorneys. A reliable home foreclosure attorney from our law office can help you fully understand the legal consequences of having your real property foreclosed and what you can do to stop it.
Many Arizona homeowners who are facing foreclosure worry about many things. One of the things they worry about is the threat of a lawsuit, which their lender will file to recover any deficiency in their payments. This can leave you without a home and with a lawsuit, which is the last thing you would want.
Consult with trusted Glendale AZ bankruptcy lawyers who can understand the impact of such a negative financial situation and give your case the attention it deserves. We have extensive experience in helping individuals who are struggling financially.
If you’re dealing with insurmountable debt, our Glendale home foreclosure attorneys can help you file for bankruptcy or debt relief. We will help you take action to avoid foreclosure and improve your financial situation.
The Foreclosure Process
Foreclosure law in Arizona can be pretty difficult to comprehend. Home mortgages are usually secured debts, which means that the borrower will pledge the property as collateral for the loan. When a homeowner fails to make payments (as required by the mortgage contract or promissory note), lenders may proceed to foreclose on the property.
In general, non-judicial trustees’ sales are the preferred method of foreclosure in Arizona. The majority of foreclosures proceed through a non-judicial process governed by a deed of trust executed and recorded at the time of purchase.
A non-judicial process allows a mortgage lender to proceed with a trustee’s sale without the need to file an action in court. However, since judicial foreclosure comes with certain legal rights on the lender’s part, it is still an open option. Call a Glendale home foreclosure attorney today at 623-471-1377 to know more about the difference between the two.
Statutory notice requirements strictly govern the foreclosure process in Arizona. This gives borrowers the chance to challenge the sale (particularly those proceeding in error) or to reinstate the loan before the sale takes place. Sending required written default notices starts the legal process. Then a formal notice of the trustee’s sale or service of a lawsuit follows. Following receipt of the notice, it is often possible to cure the default by paying off the lender (all back payments and costs that a homeowner could have incurred).
Preventing a Foreclosure Sale
If a resolution is not reached and the default is not cured, a lender will sell the home at auction to the highest bidder. If bids are insufficient to cover the amount owed on loan, the lender may buy the property itself at the foreclosure sale. The purchase is made by submitting a credit bid up to the amount owed on the mortgage, allowing the lender to sell the property through a private sale eventually.
Most of the time, a debtor can look into several possible foreclosure defense options. Foreclosure laws are pretty broad. Depending on your specific circumstance, there are defensive actions that you may take against a looming foreclosure. These include the following:
Establishing that the foreclosing party did not follow state law and procedures
Establishing that the foreclosing party cannot prove it owns the mortgage
Proving that the terms of the mortgage are unconscionable
Showing that you are a service member on active duty
If these do not apply to you, filing for bankruptcy may be the best way to avoid losing your home. If you cannot work out an agreement with your lender, you may opt to file bankruptcy Chapter 7 or Chapter 13. There are certain pros and cons for each filing chapter, but both could help you save your home and be allowed to stay in it. A dedicated Glendale AZ home foreclosure attorney can explain how a bankruptcy filing can prevent foreclosure and work to your advantage. Call us today at 623-471-1377 to schedule a consultation.
Stopping a Home Foreclosure Proceeding
Debtors may fall behind monthly mortgage payments for several reasons. One could temporarily struggle with debt due to job loss, a persisting medical situation, or other grave economic factors. Being unable to resume making monthly payments, or being unable to pay certain penalties, would increase your chances of facing a foreclosure. If you had to face foreclosure due to a temporary financial setback, a bankruptcy petition would help you have a fresh start and get back up to speed.
Many people try to look into all their options and find alternatives to avoid foreclosure. Some would agree to a deed in lieu or short sale, while others would refinance into a fixed-rate mortgage. Some would negotiate a modification, while others would create a repayment plan. To successfully proceed with refinancing or loan modification, however, a solid credit score and some financial backing will likely be necessary. This is why it is essential to assess your current financial situation and have a Glendale AZ foreclosure defense lawyer help you determine your best options.
If you’re stressed from managing your debts and home mortgage, our skilled Glendale home foreclosure attorney can negotiate with your creditors and help you settle your debts so you can regain your financial freedom in Arizona.
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At Glendale Bankruptcy Attorneys, we help individuals and businesses like you file for bankruptcy relief and provide debt assistance to help our clients deal with their debts and discover a fresh start in Arizona.
Dealing with A Foreclosure Through Bankruptcy
Given the current economic situation, foreclosures often constitute the lead story in local news. In Arizona, for instance, many homeowners find themselves facing the foreclosure of their homes. This legal mechanism by which a mortgage lender can enforce its security interest in real estate is tough for most people. However, one can take steps to possibly prevent the sale of the property that secures a mortgage loan.
An individual faced with foreclosure must look into the different possible ways of saving your house and improving your financial situation. Stalling a foreclosure is seldom easy since a lender may initiate the foreclosure process in or outside of court. It can be quite challenging to negotiate with lenders about making arrangements for mortgage payments. A bankruptcy case usually turns out to be the best possible option to help a family avoid foreclosure and move towards a brighter financial future. A Chapter 7 bankruptcy declaration, for example, can temporarily stop foreclosure and/or the sale of your home for 45 to 65 days after filing. This is often a sufficient period to catch up on missed payments.
Get the Help of a Glendale Home Foreclosure Attorney
If you are facing the possibility of having your home taken through the foreclosure process, contact us today at Glendale Bankruptcy Attorneys by dialing 623-471-1377. Mortgage companies generally start the foreclosure process around three to six months after the first missed mortgage payment. Do not delay taking steps to improve your financial situation.
Our bankruptcy law firm in Arizona can help you proceed with the best way to stop foreclosure or prevent a car repossession. Our legal team can also help you manage your finances through debt relief or bankruptcy. Call a competent Glendale AZ foreclosure attorney at 623-471-1377 today!
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