Foreclosure can devastate anyone, but it brings especially difficult challenges for senior citizens. As a Memphis foreclosure attorney for seniors, I’ve helped thousands of people stop foreclosure at every stage of life.

Why the Rise in Foreclosure for Seniors?

Seniors citizens used to be the most financially stable group in America. But the recession changed everything:

Older Americans are losing their homes because of pension cuts, rising medical costs, shrinking stock portfolios and falling property values, according to Debra Whitman, AARP’s executive vice president for policy. They are also not saving enough money. Half of households whose head is between 65 and 74 have no money in retirement accounts, according to the Federal Reserve.

– The New York Times, “Facing Foreclosure After 50”

Seniors may have even more disadvantages than other people facing foreclosure. It can be harder to find new work in a strained market. And as retirement age approaches, the financial burden can force you to spend out of savings that should be reserved for older age.

For homeowners past retirement age – and particularly the group over 75 – foreclosure can mean increased health risks and even possible homelessness.

And eviction can bring with it a loss of independence and separation from cherished memories, both of which can comfort people later in life.

Memphis Foreclosure Attorney for Seniors

Our Memphis bankruptcy attorneys see this problem play out every day in Shelby County. Older residents, hindered by unemployment and high medical debt, face foreclosure all the time.

Fortunately, bankruptcy stops foreclosure.

You don’t need to lose your home. The bankruptcy process offers a simple and affordable solution that can change your life.

Contact us today to discuss your situation for free.