Why You Should Contact a Foreclosure Defense Lawyer If you are in the middle of foreclosure or being threatened with one, it may be in your best interest to enlist the help of a reputable stop foreclosure lawyer in Memphis, Tennessee. The sooner you do this the sooner they may be able to start protecting your rights and provide you with options that may be better than the ones you are currently facing. If a lender is attempting to recover the balance of a loan that you have stopped making payments on, there is hope that a stop foreclosure lawyer can help to keep your home or other beloved asset that is at stake. A Memphis, TN stop foreclosure lawyer that is experienced with successfully defending people from foreclosures may be able to help you. The dedicated team at Darrell Castle & Associates is available to discuss your situation. If you decide that you would like our help, we can also schedule an initial consultation for you to find out more about the process of fighting a foreclosure. Possible Options Although your situation may feel hopeless, a stop foreclosure lawyer’s view of this may be hopeful rather than hopeless. An experienced stop foreclosure lawyer’s judgment and guidance may help you to save time, avoid common pitfalls, and ultimately save your home or other treasured asset from being taken away from you. Possible options a stop foreclosure lawyer may recommend and be able to help you with include but are not limited to: - File for Chapter 13 bankruptcy - Modify your loan - Avoid foreclosure through loss mitigation - Fight the foreclosure in court It is important for someone who is dealing with the threat of foreclosure to know what their options are. A reputable stop foreclosure lawyer in Memphis, TN should be able to identify and explain the pros and cons of each option you may have. It is important that you understand the pros and cons of all your options before you decide how to proceed. To understand how the foreclosure laws in your state affect your options, talk to a stop foreclosure lawyer who is licensed to practice in the state where your home or other asset is being threatened. Settlement Conference Some states require a settlement conference. This is an opportunity for the lending agency and the debtor to settle on an alternative resolution to foreclosure. A stop foreclosure lawyer can attend this in your place and contend with the oftentimes difficult, opposing counsel. Loan Modification While it can be difficult for a homeowner to get a bank or other lending institution to do on their own, a Memphis, TN stop foreclosure lawyer may be able to present your financial information in a way that the bank will allow for a loan modification. Chapter 13 Bankruptcy Chapter 13 bankruptcy is usually an option to turn to if all other options have been attempted and have failed. Chapter 13 bankruptcy gives an owner in default of their loan, three to five years to get up to date on their payments while staying in their home. For help in determining and deciding which options are better for you than foreclosure, contact a reliable stop foreclosure lawyer Memphis, TN clients recommend from Darrell Castle & Associates.Many folks who come into my office know that debt has made their life unmanageable, but still they are reluctant to make a change. Often, it comes back to the kids. Bankruptcy, they assume, will disrupt a child’s life, leaving permanent damage. Whenever this comes up, as a bankruptcy lawyer Memphis TN trusts, I remind concerned parents that unresolved debt can do much greater harm. Take foreclosure, for example.

When journalists discuss foreclosure, they tend to focus on numbers. We fixate on property values and even the abandoned houses themselves. We don’t talk about the children left without homes. They are the most vulnerable, often invisible victims of the crisis. And bankruptcy, which I’ll explain in more detail below, can help these young lives heal.

How many children are affected by foreclosure?

It is difficult to know exactly how many children are in owner-occupied homes, and harder still to know the number of those in rental properties. But it’s safe to assume that millions of children have been affected by foreclosure through the years.

How does foreclosure affect a child?

Foreclosure cannot tarnish a child’s credit history, but it can cause even greater suffering. Losing a home often means switching neighborhoods and schools. That means leaving behind friends, and lacking the structure to stay on top of studies.

Recent research has found a correlation between frequent moves and adverse educational outcomes. Here are some important statistics to consider:

  • Children may experience a reduction in their math and reading scores for each move in the middle of a school year.
  • Children who move mid-year are at risk for higher dropout rates.
  • The effects of moving are similar to spending a month out of school.

Bankruptcy can help you keep your home.

There are different ways to deal with foreclosure, but only bankruptcy can stop it dead in its tracks. Debt collectors, including mortgage lenders, cannot continue collection activities, including foreclosure, after you file for bankruptcy.

As a father and a husband, I understand the importance of a childhood home. I know the joy it brings to watch your child grow up in a familiar place filled with lifelong memories. As a bankruptcy lawyer Memphis TN trusts, I also understand how heartbreaking it is when that home is taken away from you — often because of unavoidable financial hardships that aren’t your fault.

There is a way out. Over the past 30 years, I have helped thousands of people facing foreclosure keep their homes through bankruptcy.

There are different types of bankruptcy. A Chapter 13 is best suited to financial situations that involve foreclosure. Here are a few reasons that this is your best bet to keep your home:

  • Filing a Chapter 13 bankruptcy will immediately stop foreclosure.
  • It allows you to take your loan out of default through affordable payments spread out over time.
  • It brings instant certainty. As long as you keeping making those payments, you can rest easy each night, knowing that your home is yours.

Explore your options with a bankruptcy lawyer Memphis TN trusts.

If you have questions or want to know more about filing for bankruptcy, I’m happy to help. Our Memphis bankruptcy attorneys are known for our compassion — and results — and we’re here for you. Call 901-327-2100 or contact me online to start the conversation.