Many hard-working people fall behind on their mortgage payments through no fault of their own. Maybe they’ve lost a job, or been confronted with an unexpected medical emergency. No matter the reason, the fear of losing your home is downright horrifying, and no family should have to face it.
Thankfully, our Tennessee foreclosure lawyers can offer you a way out: bankruptcy.
What is foreclosure?
When you fall behind on your payments, you have two options. One is surrendering your home. If you fall far enough behind, the bank can come knocking to try to take your house. It is a terrible thing, but they are legally empowered to seize it from you. I’ve seen far too many people choose this option, often because they don’t realize there’s another way out.
Foreclosure negatively impacts your credit.
A foreclosure will appear on your credit report, and it will more than likely adversely impact your score. But really, since one of the main factors in a credit score is on-time payments, you’re probably already dealing with the impact.
Many people worry about bankruptcy’s impact on their credit score, but the truth is that bankruptcy will improve your score in the long run. It gives you a chance to rebuild. We offer clients free access to our online course, 7 Steps to a 720.
And foreclosures are public record in Tennessee.
When you’re facing financial hardships, privacy matters. In Tennessee, foreclosures are public record, so other people can easily find out about them. Though people may have to look up that information, aspects of the foreclosure process are visible over time: eviction notices, real estate listings, and more. Every day, our Tennessee foreclosure lawyers help families avoid the embarrassment.
Don’t let your home be foreclosed. Fight back with bankruptcy.
By filing for a Chapter 13 bankruptcy, you can stop foreclosure in its tracks. A Chapter 13 is essentially a way to restructure your debt. Our experienced lawyers can set up a Chapter 13 plan that will allow you to make small, affordable payments for 3-5 years. After that, you will be current on your mortgage. You will have the peace of mind of knowing the house your family calls home is still in your hands.
Our Tennessee foreclosure lawyers are here to help.
If you are even remotely behind on your mortgage, our Tennessee foreclosure lawyers are here to discuss your options. The best bankruptcy attorneys understand that no two cases are the same. That’s why we’ll work with you to identify a path forward based on what’s best for your family.
Contact us today online or at (901) 327-2100 for a free consultation.