Florence Foreclosure Lawyer

Using the Bankruptcy Courts to Save Your Home

There are many reasons why a large number of homeowners have become unable to keep up with their mortgages in recent years, including job loss, layoffs, reduction of pay, health problems and unfair loan terms. Unfortunately, many individuals and families face the threat of foreclosure and losing their homes.

The law firm of L. Craig Kendrick is dedicated to helping clients stop foreclosure and find long-term solutions to their financial problems. The founder and sole attorney, Florence foreclosure lawyer L. Craig Kendrick, has been fighting foreclosure through the bankruptcy courts since 1990.

Taking Immediate Steps to Stop Foreclosure

If your lender is pursuing a judgment against you, or if the court has already issued a judgment and your home has been scheduled for a foreclosure sale, filing bankruptcy under any chapter will get you a court-ordered automatic stay that will stop the foreclosure from going forward until the bankruptcy court approves otherwise.

The automatic stay is only temporary. However, bankruptcy may offer you a solution that will enable you to keep your home or at least avoid having a foreclosure on your credit report.

  • In Chapter 13 bankruptcy, you can place your arrears (missed payments) on a three- to five-year repayment plan without paying any additional interest or late payments. If you can make these payments and your regular monthly payments going forward, you can keep your home.
  • In Chapter 7 bankruptcy, the automatic stay buys you time to pull together the funds you need to keep your home or try to negotiate a loan modification. If these options are not successful, you may be able to arrange to sell the property through a short sale.

If you are ultimately unable to avoid foreclosure or have already been foreclosed on, the bankruptcy court can also permanently eliminate any deficiency (remaining) balance on your mortgage or mortgages.

Experienced Kentucky Loan Modification Lawyer

While bankruptcy offers stronger solutions than supposed quick fixes like non-bankruptcy debt consolidation and reverse mortgages, it is not right for everyone. Attorney L. Craig Kendrick can help you explore alternatives, such as a loan modification under federal incentive programs.

Mr. Kendrick will provide careful, individualized attention to your case in order to help you arrive at the approach that is best for you, whether or not it involves bankruptcy. Don't hesitate to contact him to schedule a free initial consultation.

We are a Debt Relief Agency. We help people file for Bankruptcy relief under the Bankruptcy Code