Foreclosure Alternatives

Bankruptcy Lawyer Helps Prevent Foreclosure

Options for Preventing Foreclosure in Alabama:

For people who have fallen seriously behind in their mortgage payments, Chapter 7 or Chapter 13 bankruptcy may be the debt relief option most likely to help them stop foreclosure and save their homes.

Other methods of preventing foreclosure exist, however, and you should consider all your options for preventing foreclosure before deciding on a course of action. Located in Birmingham, the law office of Brent W. Davis & Associates, LLC, focuses on providing legal services relating to debt relief. We advise individuals, families and businesses on the advantages and disadvantages of filing bankruptcy. If your home is threatened by foreclosure, we analyze all possible options for preventing foreclosure. The most important thing for you to know is that you do have options if you are facing foreclosure. Contact our law office to learn more from a knowledgeable bankruptcy attorney.

Preventing Foreclosure With Short Sales or Deeds in Lieu of Foreclosure

A short sale is a real estate transaction in which the mortgage lender agrees to accept a pre-agreed sale price as full repayment of the mortgage, even though the sale price is less than the outstanding balance of the mortgage. Short sales are valuable for homeowners whose mortgages are higher than their home values.

A deed in lieu of foreclosure is another type of real estate transaction that may be useful in preventing foreclosure. Your mortgage lender may not want to spend the time and money to file a foreclosure and may agree to take the deed to the house back from you and consider the mortgage closed.

We can help you negotiate either of these transactions with your bank.

Preventing Foreclosure With Loan Modifications

You may be able to talk to your bank about a home loan modification. Several federal loan modification programs exist, including the Home Affordable Modification Program (also known as the Obama Plan). We may be able to negotiate on your behalf with your bank for a mortgage modification to reduce your interest rate, reduce the principal, or extend the term of the loan.

Learn More About Preventing Foreclosure in Alabama

Talk to an experienced lawyer if you are worried about losing your home to foreclosure. Contact the Birmingham law office of Brent W. Davis & Associates, to make an appointment.

We are a debt relief agency.
We help people file for relief under the Bankruptcy Code.