Foreclosure Avoidance Attorneys
Your home is much more than a piece of real estate. Your home is a place of great emotional attachment. Your home is the site of some of your fondest memories. If you have fallen behind on your mortgage and are facing foreclosure, it is time to look at all of your options. One option may be bankruptcy. The lawyers and staff of Minnillo & Jenkins CO. LPA have helped homeowners in Ohio and Kentucky save their homes through the bankruptcy process.
Our law firm has represented thousands of people since 1996. As a result, we understand the potential advantages and disadvantages of each potential strategy. We know exactly how important your home is to you, and we will take every step within the law to help you keep it. For a free, no-obligation consultation to learn more about the potential foreclosure defense options available to you, call +1-513-723-1600.
Bankruptcy Offers Long-Term and Short-Term Debt Relief to Homeowners
In the short term, when you file bankruptcy, the automatic stay commences. The automatic stay prevents all of your creditors from taking any collection actions, including foreclosure. Therefore, filing bankruptcy stops a foreclosure in its tracks. This relief may only be temporary, however. If you file Chapter 7 bankruptcy, your mortgage lender can ask the bankruptcy trustee to lift the automatic stay and reinitiate foreclosure proceedings. Therefore, the main advantage of a Chapter 7 bankruptcy is to buy time to work out an arrangement with your mortgage lender.
Generally speaking, Chapter 13 offers homeowners a more permanent solution. Under Chapter 13, you will pay your past-due mortgage balance over a three- to five-year period. While you are paying your arrearages, you will be expected to stay current on your payments. Chapter 13 may offer another advantage, depending on your situation. If you have a second or subsequent mortgage, you may be able to remove the value of this mortgage in bankruptcy. This is known as lien stripping and can represent significant savings.
Contact the Foreclosure Avoidance Attorneys of Minnillo & Jenkins
We offer a free initial consultation to discuss your situation. Call +1-513-723-1600 or contact us online to arrange your confidential meeting with our trusted lawyers. We serve clients in Ohio and Kentucky. We have four offices, conveniently located throughout the Fairfield, Cincinnati, Eastgate, and Covington areas.
We are a law firm and a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.