MORTGAGES AND FORECLOSURES

Facing the thought of potentially losing your home can be a very stressful and confusing experience.  Attorney Kim Lehrman has helped countless individuals pursue solutions to issues relating to mortgage issues and foreclosures through viable bankruptcy options.

When you speak to me on the phone and meet with me in person, I will provide optimal legal counsel for your situation.  I have 17 years of experience handling individual bankruptcies in South Florida.  I put a great deal of thought into the best solution to your financial issues.  I offer a personalized, not a cookie cutter solution, to each individual.  I work on my own, so you will only meet with me and I will be the only person preparing, filing, and handling your case.  Below is some general information about a mortgages and foreclosures as it relates to bankruptcy.

If you are facing a foreclosure action, and even if there is a sale date in the foreclosure action, the filing of a Bankruptcy will immediately stop that action and stop a sale of the property.

The Chapter 13 Bankruptcy provides a few options relating your mortgage.

First, through a Chapter 13 Bankruptcy re-payment plan, you can become current your mortgage.  You can make payments to a Chapter 13 Trustee on a monthly basis.  Those payments will include your regular mortgage payment and an amount to bring you current on your past due mortgage payments.  This is a powerful solution that is only available in a Chapter 13 Bankruptcy.  This is also a solution if you are behind on homeowner’s association dues.

Second, you can file a Chapter 13 Bankruptcy and then apply for a mortgage modification.  Your Chapter 13 Bankruptcy re-payment plan will include and estimated new mortgage payment amount.  The bank will be required to consider a mortgage modification.  However, the bank will make the final decision whether the mortgage modification will be granted.  If the mortgage modification is not granted, then you still have the choice to become current on your past due mortgage payments through the Chapter 13 Plan.

Finally, if you have a second-mortgage or line of credit on your property, it may be able to be discharged or wiped out as unsecured debt.  This is a possibility if the balance on your first mortgage is greater than the value of your home.  Please see further information on this issue under the Second Mortgage heading.

I would be happy to speak to you on the phone about your particular situation and meet with you in person as well.  If you would like to speak to me right away, please email me at [email protected] with your phone number.  You can also send me an email through the contact feature on the home page of my website.  I usually will be able to speak to you right away.