First and foremost DO NOT BE INTIMIDATED BY YOUR LENDER! We will protect your rights. The Law Firm of Henry N. Portner will represent you in either Foreclosure defense, Loan Restructuring, Bankruptcy or Short Sales. The most important element of what we attempt to do is avoiding the Foreclosure, which may be accomplished in a number of ways; Foreclosure Defense, Short Sale, Bankruptcy or Loan restricting. In the event you do not desire to keep your home we develop an exit strategy that minimizes or eliminates the credit, legal, and financial obligation that comes with foreclosure. We will do whatever possible to protect our clients.
| Foreclosure Defense |
If you are delinquent in mortgage payments to the lender, have been served with a notice of foreclosure letter or have received a mortgage foreclosure complaint, you have a very short time to respond. In many cases, a homeowner and borrower may begin to lose precious legal rights in as little as twenty (20) days.
Any delay may make the situation you are in worse, and if a borrower or homeowner fails to do anything at all, the situation may become the worst case scenario possible. The mortgage foreclosure process will absolutely have serious, long lasting ramifications that you may have to deal with in the future, so it is absolutely in your best interests to participate now while it is occurring.
Your decision to participate now may preserve, protect and safeguard valuable legal rights affecting your future income, credit worthiness and income tax consequences
| Bankruptcy |
A business or an individual can declare bankruptcy once they have ascertained that it has become impossible to pay off one's creditors. It can give you a chance to start over from a financial point of view, as most of debts are relieved after bankruptcy as been filed.
Chapter 7, or liquidation bankruptcy, means that your "estate" – i.e., your assets – is sold in order to pay off your creditors. A reorganization bankruptcy can also involve the selling of assets, but more often than not you can retain a majority of your assets while your creditors' needs are assessed. Reorganization bankruptcies can be filed under the following guidelines:
Chapter 11 – businesses and individuals with many assets
Chapter 13 – individuals with steady income
Contact us today to learn more about your options under the current bankruptcy laws. We're here to help.
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| Loan Modification |
A large number of clients will find themselves using a Loan Modification Plan to avoid foreclosure. If you can currently afford your regular monthly mortgage payment but you can't catch up with the past-due balance, we will negotiate with the lender on your behalf to forgive any past-due amounts including interest, penalty and escrow or to add back the delinquent total to the unpaid principal balance.
Consumer lawyers of America employs a H.U.D. certified loan modification specialist on staff to assist you! This individual is specifically licensed to perform Loan Modifications. It is important to understand the various lender and Federal programs and how they work.
If you've been struggling with mortgage payments, you are not alone. In today's economy many are having a hard time making ends meet, and paying a high monthly mortgage doesn't help. |
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| Short Sale |
Mortgage Forgiveness Debt Relief Act
December 20th 2007 President Bush signed the bill ensuring that any debt forgiven on a mortgage secured for a principal residence will not be taxed. This important legislation is one more step in helping homeowners through the fallout of the sub-prime lending boom. We have been advocating such a change to the IRS tax code for nearly 10 years and we are proud of this recent victory.
Short Sales
By: Alan Palange (Executive Director)
As short sale occurs when the property is sold for less than what is owed on the mortgage. Many times the lender will agree to a short sale rather then foreclosing on the property. The law Firm can offer you many varied types of loss mitigation, with or without Foreclosure defense. Many times clients will seek assistance with the Short sale from all the wrong places not realizing the crippling effects of an incomplete short sale that never occurs. We normally say the purchase of your home is the single biggest decision you will make in your life time, unfortunately in today’s environment your exit strategy will absolutely be an important decision that must be made with an understanding of your personal situation. A poorly executed Short Sale can have devastating effects for many years into the future. The Law Firm of Consumer lawyers of America has proven experience in this field.
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