Lakelaw: Stop Foreclosure
The current subprime mortgage crisis is a financial plague afflicting much of our nation's economy. Ignited by unscrupulous lenders offering adjustable rate mortgages to borrowers who do not understand the mortgages, foreclosures recently flared to an all-time high. At the same time, many other homeowners fall behind on mortgage payments for a wide variety of other reasons, like a lost job, medical bills or a divorce.
Contact Lakelaw online or call 262.694.7300
No one ever wants to lose their home. If you are facing foreclosure, you do not have to do it alone. At Lakelaw in Southeastern Wisconsin, our attorneys are recognized experts in bankruptcy and mortgage law — attaining board certifications, delivering lectures to Illinois, Wisconsin, and national gatherings of legal practitioners, and developing cutting-edge strategies to stop foreclosure and fight predatory lending as well as mortgage rescue scams.
Steps We Take to STOP Mortgage Foreclosure
The first thing to remember is that even if your home is currently in foreclosure that does not mean that the proceedings have to continue to completion. If you were a victim of predatory lending or a mortgage rescue scam, there are many avenues available for your defense, and we may be able to help you turn the tables on the lenders. We know the Truth in Lending Act (TILA), the Home Ownership Equity Protection Act (HOEPA), the Real Estate Settlement Procedures Act (RESPA), the Equal Credit Opportunity Act (ECOA), as well as an array or state laws designed to protect you.
If you have simply been unable to keep up with your mortgage payments, we may be able to help you stop the foreclosure proceedings by first filing for Chapter 13 bankruptcy. Then, after evaluating your current financial situation, we help you come up with a payment plan — a plan the courts find agreeable — that reorganizes your debt and allows you to continue paying your mortgage while making up for missed back payments. If you have a valid claim against the lender, we might be able to pursue it for you as a part of your Chapter 13 case. This could result in a vast improvement in your financial situation.
There are certain situations where individuals are ineligible for Chapter 13 bankruptcy — for example, if you owe over $1,010,000 in secured debts and predatory lending is not an issue, Chapter 13 is not for you. However, we still may be able to help you in Chapter 11 bankruptcy, in Chapter 128 restructuring cases under Wisconsin Statues, and under a wide array of mortgage defenses.
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If you are about to lose your home to foreclosure contact a consumer protection attorney at Lakelaw Wisconsin online or by phone at 262.694.7300.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.