This article is for those of you in the Albuquerque and Santa Fe, New Mexico area who are facing a mortgage foreclosure. If you experienced a temporary setback that caused you to get behind on your mortgage, and you are now able to make payments except you are unable to catch up in time to avoid a foreclosure sale, then Chapter 13 may be the answer. If you are unable to pay your mortgage at all, but you need to surrender the home and free yourself of all of your debt, then Chapter 7 might be the answer.
CHAPTER
13 CAN STOP A MORTGAGE FORECLOSURE SALE
A Chapter 13 bankruptcy immediately
stops the sale. It gives you the time (up to 5 years) to catch up on the
mortgage payments. You must resume making
your regular mortgage payment plus a catch-up payment (your Chapter 13
"plan payment") and the mortgage company must allow the payment plan
if it meets the requirements of Chapter 13.
You also may be able to include a good portion of my attorney's fees through the plan payment. I do my best to make my services affordable in the first place. I have some of the lowest rates available because I work out of my home and I don't employ any assistants. I also try to reduce the amount of the required down payment for my fee so that as much of the fee as possible is included in the catch-up payment. This gives you time to pay it.
I am available for a respectful and confidential, completely free, 30-minute telephone consultation without obligation, in order to discuss your personal situation and to see whether I can help you. You have nothing to lose to simply talk it over with me. I will let you know whether I can help and how, exactly what needs to be done, how much it will cost, and how much you have to pay down. I also will estimate your monthly plan payment, if you should decide to proceed. I don't give you sales pressure.
I urge you to schedule the consultation as soon as possible. Bankruptcy takes a great deal of preparation work and there are requirements that may take time to meet. Therefore, the sooner you find out what your options and rights are the better.
WARNING ABOUT SCAM ARTISTS!
There are people reading the newspaper looking for people in trouble, "investors" who want to take ownership of your home for a good price, and they come up with all kinds of schemes to help you live in your home or pay off the mortgage. Most of these deals are scams. You don't need help from an investor. You need help from an attorney. At the very least, you should consult one before going ahead with these deals.
THE PROBLEM WITH BANKRUPTCY PETITION PREPARERS
It is always going to be cheaper to use a petition preparer. These are not attorneys and they owe few duties to you or to the Court. You are still on your own in the case. This is possible to get away with in a Chapter 7 case, but it is extremely rare for anyone to succeed in Chapter 13 without an attorney. There are serious consequences for dismissing a case once it has been filed, so you want to do it right the first time.
NEGOTIATE WITH YOUR MORTGAGE COMPANY
BUT YOU STILL NEED TO PREPARE FOR FILING A CHAPTER 13!
I am in favor of entering into "forbearance" agreements and payment plans with your mortgage company. The problem I see all too often is that they negotiate with you and give you the hope that they will make a deal. In the meantime, they are proceeding full steam ahead with the foreclosure! By the time you realize it, it may be too late to get a Chapter 13 together.
It is heartbreaking to have people come to me at the last minute, just before the date of the foreclosure sale. It is often too late for them to save their house because there is no time to gather up the documents, down payment and Court filing fee, mandatory pre-filing credit counseling, and other requirements that must be met before filing the case. Therefore, do not let the mortgage company or anyone else trick you into waiting until it is too late. Once there is a foreclosure sale, it is too late to help you. You must act now!
HOW TO MAKE APPOINTMENT
FOR FREE TELEPHONE CONSULTATION
Please make an appointment immediately so I can advise you while there is still time to act. It won’t cost you anything to talk to me on the telephone for the initial consultation.
1) Go to my web site and print out the document at:
http://www.jeffrey-goldberg.com/free-initial-consultation.html
2) Read the disclosures and sign the agreement on the first 2 pages. Then send me the two signed pages only! You can mail it, fax it, or scan it in and email it. This is required by the Bankruptcy Code before I can give you any assistance at all. Be sure to write on there the best times for me to call. If you know the date of your foreclosure sale, write it on there too!
3) I will then call you at a convenient time to discuss your case. When I talk to you, I will let you know whether I can stop the foreclosure, and what it is going to cost you, including your estimated monthly plan payment.
IF YOU DON'T WANT TO SAVE YOUR HOUSE
Even if you don't want to stay in your home, and you will just let it go to the mortgage company, you might still need to file a bankruptcy case, such as a Chapter 7. Therefore, you may still wish to take advantage of my initial consultation. I will always make a recommendation of whether to file a bankruptcy, which Chapter to file, and how much it is going to cost if I take your case.
