Bowie, Maryland Foreclosure Defense Attorney

Lawyer Helping You Explore Options to Avoid Foreclosure and Keep Your Home in Bowie

For many, owning a home is fulfilling the "American Dream." If your financial situation has led to missed mortgage payments or delinquent property taxes, that dream can turn into a nightmare when you are threatened with foreclosure. Sometimes, filing for bankruptcy is your best option if you want to keep your home. While there are many lawyers who may tell you they want to help you, there is only one who can truly give you Hope for rebuilding your future.

Hope Blocton is known as "the people's attorney" for a reason. She truly cares about what you are going through, and she offers exceptional legal services without charging exorbitant fees. If there is a way for you to keep your home, she will help you do it. Bloc One Services, LLC serves communities in and around Charles, Prince George's, and Montgomery Counties in Maryland, as well as Washington D.C.

Stopping Foreclosure Actions in Bowie, Maryland Through the Bankruptcy Automatic Stay

One of the most helpful aspects of filing for bankruptcy is the automatic stay. As soon as you file, your creditors, including mortgage lenders and property tax collectors, have to cease any actions against you. This stay will remain in effect for the duration of the bankruptcy process, and the amount of time needed to resolve your case will differ depending on the type of bankruptcy you file.

Before a lender can begin a foreclosure action in Maryland, they have to give you a Notice of Intent to Foreclose. This notice must be provided at least 45 days in advance. The entire foreclosure process usually takes around six to nine months.

Some people wait until foreclosure proceedings are initiated to contact a bankruptcy attorney. However, it is better to call us before that happens. Depending on your situation, we may advise you on different approaches that could help you avoid foreclosure. Beginning before the threat is made a reality gives us a better bargaining position. If you have already received a foreclosure notice, we can still help.

Chapter 7 Bankruptcy and Maryland Foreclosures

For secured debts, such as your home mortgage, filing for Chapter 7 bankruptcy will not provide long-term debt relief. The Chapter 7 process typically takes only a few months to complete, but while debts may be discharged, creditors will still be able to take action to seize the collateral used to secure debts. The automatic stay will prevent an immediate foreclosure, but as soon as your case is discharged, your lender can re-initiate the foreclosure process, and you will not be able to prevent the loss of your home. Attorney Hope will provide a more detailed explanation and help you explore alternatives during your free consultation.

The Benefits of Chapter 13 in Preventing a Maryland Foreclosure

Chapter 13 bankruptcy offers a structured debt repayment plan that enables you to consolidate your debts and make a single monthly payment, usually for a term of three to five years. The Chapter 13 trustee will distribute the payments to your creditors in accordance with your plan. You can include both unsecured and secured debts in Chapter 13, and your repayment plan may allow you to catch up on mortgage payments you have missed. Once you complete your Chapter 13 case, unsecured debts will be discharged, providing you with more money to address your ongoing needs.

Along with the automatic stay, Chapter 13 could allow you to eliminate liens placed on your property through a second mortgage or home equity line of credit. Attorney Hope will work with you and your lender to address past-due payments and tax liens. We may also be able to renegotiate the terms of your mortgage to make your payments more manageable.

Call Our Bowie, MD Bankruptcy and Foreclosure Lawyer

If foreclosure is looming, do not delay in contacting Bloc One Services, LLC. The more time we have to review your case, the more effective we can be in helping you keep your home. Call 240-200-0076 now to book an appointment for your complimentary consultation.