Foreclosure Lawyer In Cincinnati, OH

Stopping Foreclosure with Bankruptcy

What You Need to Know

Facing foreclosure can be one of the most frightening experiences a homeowner can endure. If you’re behind on mortgage payments and have received notices from your lender, you’re likely feeling anxious about losing your home. The good news is that bankruptcy can provide powerful tools to help you stop or delay foreclosure — and in many cases, give you the time and legal framework needed to save your home.

When a lender begins foreclosure proceedings, they’re attempting to take legal possession of your property due to missed payments. This process can move quickly, depending on your state’s laws, and once it’s complete, you could lose not only your home but also any equity you’ve built.

By filing for bankruptcy, you trigger an automatic stay, a court order that immediately halts most collection actions — including foreclosure. This stay prevents the lender from moving forward with the sale of your home while the bankruptcy is active. It gives you valuable breathing room to assess your options and create a strategy to catch up on payments.

There are two main types of bankruptcy individuals typically file:

• Chapter 7 Bankruptcy may delay foreclosure temporarily, but it does not provide a long-term solution for saving your home unless you can quickly catch up on missed payments. However, it can eliminate other debts, freeing up resources to address your mortgage.

• Chapter 13 Bankruptcy is often the better choice for homeowners who want to keep their home. This type of bankruptcy allows you to restructure your debt into a manageable 3–5-year repayment plan. You can catch up on mortgage arrears over time while continuing to make your regular monthly payments moving forward.

At Herzner Law, we help clients understand their rights and develop a personalized plan to avoid foreclosure whenever possible. With experienced legal guidance, many homeowners are able to stop foreclosure, protect their equity, and stay in their homes.

Contact A Cincinnati Foreclosure Attorney For Help

If you’re facing the threat of foreclosure, don’t wait — time is critical. Contact us today for a confidential consultation and take the first step toward financial stability and peace of mind. Let us help to secure your legacy and protect your peace of mind – contact our office today to begin planning for your future.