Even though the economy has significantly recovered from the housing crash, there’s still a fair amount of fallout to deal with. There are people in the St. Louis area that are facing foreclosure. While most of the situations are regrettable, there are times where nothing can be done. However, there are those instances where hiring an attorney can help a person Stop Foreclosure St. Louis.
There many ways in which an attorney can help a person to halt foreclosure proceedings. One of the most effective methods is by filing for bankruptcy. If a person’s finances are in such a state where they can’t afford the debt that they have incurred, filing for bankruptcy is a way to deal this issue while preventing the bank from foreclosing on the home.
Another option that people have been through applying for the loan modification. In the past, any filing for loan modification could be helpful, but some mortgage companies proceeded with a process known as dual-tracking. Dual tracking is where a bank or another lending institution continued with the foreclosure procedure while simultaneously engaging in the loan modification process. In these cases, it was up to the various states to disallow lending institutions from this practice. Fortunately, as of 2014, Federal law mandated as long as loan modification applications are submitted 37 days before a foreclosure sale, the bank must halt foreclosure procedures during the loan modification process.
Another option that an attorney may have in order to Stop Foreclosure In St. Louis is to file a lawsuit against a lending institution. There are several reasons that would constitute stopping a foreclosure via a lawsuit. A lender may have violated the Houseowners Bill of Rights that each state establishes. The lender that is foreclosing on the home may not actually hold the promissory note on the mortgage. In addition, the lender may have neglected mediation requirements or did not follow proper foreclosure proceedings pursuant to the state of Missouri.
While foreclosure may not always be avoided, there are situations where it can be delayed indefinitely. With the services of an attorney from the Law Offices of Steven K. Brown, a person may be able to determine if there is anything they can do to halt the foreclosure proceedings. To learn more about these and other issues, you may want to visit.
