Foreclosure is one of the scariest situations a homeowner can face. But unfortunately, it’s not uncommon. As a Memphis Foreclosure lawyer I’ve met many hard-working folks who fell behind on their mortgage payments through no fault of their own. Whether it’s a lost job, or an unexpected medical emergency, even the most responsible person can face losing their home.

Thankfully, there’s a simple solution to avoid foreclosure completely: bankruptcy.

What is foreclosure?

Typically, a foreclosure begins after a homeowner falls behind on mortgage payments. In Tennessee, the foreclosure process doesn’t require a court hearing. This means that, once you fail to make a payment, the creditor can serve a notice of foreclosure by mail or phone.

It is a terrible thing, but if you fall far enough behind on your payments, the bank is legally empowered to seize your house. I’ve seen far too many people surrender their home because they don’t realize there is another way out with bankruptcy.

Foreclosure can impact your credit score more than bankruptcy.

Many people avoid filing for bankruptcy because they assume it will impact their credit score. But the truth is, if you are facing foreclosure, you’re probably already dealing with a credit score that’s less than favorable.

A foreclosure will appear on your credit report, and it will more than likely negatively impact your score. Whereas bankruptcy will actually improve your score in the long run. This is because it gives you a chance to rebuild with a fresh slate.

Stop foreclosure in its tracks today.

Don’t let your home be foreclosed on. Fight back by filing for bankruptcy. One of our experienced Memphis foreclosure lawyers will help you set up a Chapter 13 plan that will allow you to make affordable payments for 3-5 years, and keep your house in the process. After that, you will be current on your mortgage.

Speak with a Memphis foreclosure lawyer today for FREE.

If you are even a month behind on your mortgage payments, give one of our compassionate Memphis foreclosure lawyers a call. We are here to discuss your options and create a path forward based on what’s best for you and your family.

Contact us today online or at (901) 327-2100 to hear how we can help. Consultations are absolutely FREE.

We’re here to give you the peace of mind that your family home will stay safely in your hands.