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When a mortgage holder wants to foreclose on a home, they must go through a judicial process involving the courts. The first step that will occur is a homeowner will receive warning letters and calls regarding their missed payments. It is imperative a homeowner does not avoid these communications so they do not miss out on the opportunity to make alternative arrangements that could satisfactorily catch up their payments in arrears. Those facing foreclosure in Fairfield, OH need to make sure they understand their rights and what happens in the process.
Before a foreclosure can become official, the mortgage holder must file a lawsuit and the homeowner is sent a summons and complaint. The homeowner will then be given twenty-eight days to respond to the complaint. Once the foreclosure has been granted, the process of sale can begin. When a property has been sold, the mortgage holder will file a notice to leave and the sheriff can make the occupants vacate the home. Thankfully, there are steps a homeowner can take to avoid foreclosure in Fairfield, OH.
When a homeowner is facing mounting debt and finds themselves unable to catch up their mortgage payments, it . This type of bankruptcy allows a homeowner time to catch up on their payments in arrears while keeping their current payments paid. Most homeowners are given up to five years and must present a structured payment plan to the court.
Filing for chapter 13 immediately halts any collection activity as long as the foreclosure process has not begun. This is why it is imperative that homeowners do not delay in the process so an attorney can help them. Once the bankruptcy is in effect, the homeowner must catch up on their payments and stay current. If the homeowner is current on their payments at the end of the bankruptcy, they will be able to avoid foreclosure.
If you are facing losing your home, there are many ways an attorney can help. Contact Dean Snyder, Attorney at Law and ask to schedule an appointment so you can learn more about the process and what can be done to help you avoid foreclosure.