Need to Stop Foreclosure? Attorney Oberhauser is Here to Help
Providing legal assistance to stop home foreclosure across Middlesex County.
- Are you behind in your mortgage payments?
- Are you facing foreclosure proceedings?
- Would you like to save your home?
If you are facing potential home foreclosure in Massachusetts, you need Attorney Oberhauser who will do everything possible to help prevent the bank from repossessing your home allowing you to save your property.
Attorney Oberhauser will begin by pursuing negotiations with your lender and/or mortgage company. If your lender refuses to negotiate, he doesn’t just stop there. He will also protect your home and your interests in court if necessary.
Time is not on your side! Call Today 978-452-1116, for a free consultation to move forward in stopping your foreclosure quickly.
You deserve a chance to save your home. Our firm helps you do just that by taking immediate action on your case.
Stop Foreclosure With Bankruptcy
Filing bankruptcy is usually a sure way to stop foreclosure sale and may allow us time to conduct a short sale of your house. During the bankruptcy process, all pending action against your home must stop. The Automatic Stay entered in by the Federal Bankruptcy Court stops all pending actions against you property and against you.
We will then use this time to negotiate with banks and lenders to work out a payment agreement that satisfies the lending agency and meets clients’ needs.
This may include a Short Sale which is basically finding a buyer who will qualify and will make an offer that is lower than what is owed on the property, sometimes ten (10%) off of your mortgage or could be even greater up to fifty (50%) off of your mortgage, then the bank will need to approve this offer and allow the Short Sale to continue.
Prevent Foreclosure With a Loan Modification
Modification of your existing mortgage and note is also explored before or during your bankruptcy case. Dropping an interest rate from 6 or 8 percent down to 2- 3 percent is all that is necessary to allow the household to manage their money in a more budgeted manner.
Some common results:
- Reduce the interest rates
- Place arrearages (that which was owed but not paid for numerous reasons) to be placed back into your loan.
- Debt forgiveness of a portion of the debt owed to the bank.
- Extend out the years of your mortgage and note to drop down the payments.
- Stripping of the second mortgage if it is not secured by any equity in your home.
Massachusetts Foreclosure Law
Over the last several years, the state of Massachusetts has enacted legislation for foreclosure help to assist homeowners in protecting their homes.
In 2008, an Act to preserve and protect home ownership was passed to help financially distressed homeowners. It provided a period of time to pay a mortgage delinquency and gave homeowners a chance to keep their homes.
Further legislation was passed in 2010 which established a framework for negotiations between lenders and homeowners. Under this law, lenders must give homeowners 150 days to cure their mortgage arrearage before starting the foreclosure process.
In 2012, an Act to prevent unlawful and unnecessary foreclosures was passed. This required mortgage holders to offer a loan modification for certain mortgage loans and outlined the obligations and processes that must be followed.
As you can see, Massachusetts foreclosure laws are constantly changing. Oberhauser Law can help you understand these changing laws and how they apply to your financial situation. Through quality legal representation, you can keep your home and safeguard your future.
Gregory Oberhauser is an Experienced Foreclosure Defense Lawyer
Prevent foreclosure, lower you monthly payments and keep your home by contacting us today. We will work with banks, mortgage lenders and bankruptcy judges to save your home and make your payments more affordable.
At Oberhauser Law, we provide our clients the legal advice they need to overcome debt and keep their family home.