Helping You Keep Your Home — or Navigate Foreclosure
Is your home in foreclosure? Do you have questions about how the foreclosure process works?
Whether you want to keep your home or you simply want to get through the foreclosure process as securely as possible, you should contact an experienced attorney to help. The sooner you take action, the sooner you can start to improve your circumstances.
The Golden Law Group is one of the leading consumer debt law firms serving the Tampa, Florida, area. Focused exclusively on consumer debt issues, they are a full-service consumer law firm providing experienced, efficient and personalized service.
For a free consultation to discuss the foreclosure process with a lawyer at The Golden Law Group, call 888-325-7602 | 800-438-9121 or contact the firm online.
Stopping Foreclosure Through Bankruptcy
Most people do not realize that they can actually save their homes from foreclosure by filing for bankruptcy. If you have fallen behind on mortgage payments, a Chapter 13 bankruptcy will allow you to catch up on back payments while restructuring any other debts you may have.
When You Can't Stay in Your House
If you don't have enough income to be able to make mortgage payments in the future, then you likely won't be approved for a Chapter 13 bankruptcy to catch up on debt and keep your house. In that case, The Golden Law Group can help you stay in your house while you find a new place to stay. In addition, they can help you file for Chapter 7 bankruptcy, which has two significant advantages:
- First, your mortgage lender will resell your house. If the house sells for less than you owe on your mortgage, you will be responsible for paying the balance. A Chapter 7 bankruptcy can clear you of that debt.
- Second, if the mortgage company sells your house for less than you owe on the mortgage, but decides to forgive your debt, the IRS will treat that "forgiven debt" as income for the year. This could lead to a significant tax charge. Chapter 7 bankruptcy shows the IRS you are "insolvent" for tax purposes, and so they won't pursue tax on the forgiven debt.
The foreclosure process is highly complicated, and you should speak to an attorney before making any major decisions. For a free consultation (with no risk and no obligations) with a lawyer at The Golden Law Group, call 888-325-7602 | 800-438-9121 today or contact the firm online.