Owning a home takes years of hard work, savings, planning, and dedication to both your family and professional career. A home is one of the most priceless possessions that you can have to your name. To be faced with the possibility of losing it can be overwhelming.
It can leave you and your family without a roof over your heads. Provided that the current economic climate has been on a dip for a few years now and this part time working trend for America will not change until we have more choices for health insurance and lower taxes, it is not uncommon to see hardworking Americans struggle just to be able to find a job and make ends meet on a day to day basis.
To add to this, the mortgage meltdown in Kansas has made things even more difficult. When people miss out on their debt or mortgage payments, their creditors can initiate the process of foreclosure against them.
This has happened more than once to say the least. You are not the first to be facing the financial grim reaper. But there is hope and USAttorneys.com is symbol of that hope. With this virtual tool, you can find the legal help you need to help you escape this worrisome situation.
What is bank foreclosure?
Foreclosure is the legal process where a creditor files a lawsuit against a borrower who has defaulted on payments. Courtesy of this legal suit, the creditor can then repossess the borrower’s home and sell it.
This sale is generally a public auction which follows after a week of advertisement in a state recognized newspaper. The house is sold to the highest bidder and the money or proceeds collected from the sale are taken by the creditor as compensation for the outstanding debts owed by the borrower to the creditor.
What you can do to avoid foreclosure?
A lot of people seem to feel that they have no options when faced with foreclosure. However, filing for bankruptcy is one of the most effective ways to potentially stop the process of foreclosure dead in its tracks. There are several different chapters of bankruptcy recognized in Kansas. Two of the most popular ones are as follows:
- Chapter 7 bankruptcy – Chapter 7 bankruptcy is also known as a fresh start bankruptcy and it basically wipes clean all your loans and mortgages and hence gives you a fresh start. However, not everyone will qualify for a Chapter 7 bankruptcy. It is meant mostly for people who are low wage earners or those who have no steady income and thus no way or resource to repay their loans.
- Chapter 13 bankruptcy – Chapter 13 bankruptcy is meant for people who do have a steady income, but they are overburdened by loans and mortgages that they cannot afford to pay on a regular basis. Chapter 13 allows them to negotiate with creditors and restructure their repayment scheme to something lighter and bearable.
If you seek financial freedom and relief then you are at the right place. Right here at USAttorneys.com, we’ve designed an interactive map of Kansas to help you find a hardworking and formidable foreclosure lawyer in Kansas.
Alternatively, you can also check out the local lawyers’ directory which has contact information for a plethora of foreclosure legal counselors near you. Once you have some information on some legal pros you can call them directly and get started on saving your home. You only need one legal representative.
If you still have questions, feel free to utilize the live chat forum or complete the contact form and we will call back promptly (in the day time of course!). We want to help you secure the help you need. This may not be your fault you are in this position but if you do not secure legal help and ask for assistance when you need it and this situation turns even direr, the repercussions will be your fault.
You are a few keystrokes away from having that contact information to a legal professional. Get it done!