Facing Foreclosure? Green & Kapsos Law Offices, L.L.C. Can Help!

If you have fallen behind on your mortgage payments or are facing foreclosure, there is still hope for saving your home. The attorneys at Green & Kapsos Law Offices, L.L.C. have been helping clients avoid foreclosure and stay in their homes for over twenty years. We can help you to modify your current mortgage, negotiate a short sale, arrange a deed in lieu of foreclosure with the bank, or use the bankruptcy laws to help eliminate debts and protect your assets. If you are interested in learning more about all of your legal options, please call our office at (414)-543-5369, for a free, no obligation consultation.

Mortgage Modification

A mortgage modification is a new agreement made between you and your mortgage company to change the terms of your loan.

You might be eligible for a mortgage modification if you:

• Have fallen behind on your monthly payments
• Cannot make upcoming payments due to an unexpected, documented financial hardship
• Can no longer make payments due to a change in interest rate or escrow

Benefits to applying for a mortgage modification:

• You may be able to negotiate lower, more affordable payments. This is most commonly done by lowering the interest rate or adjusting the time table for repayment to make it fit your current budget.
• You may be able to avoid foreclosure, which is a timely, expensive process for banks. Many banks stand to lose a substantial portion of their investment, so negotiating a new deal may benefit both parties.
• You can keep your home and the equity you have in it for future investments.
• You can avoid damaging your credit. A foreclosure can lower your credit score up to 150 points and can stay on your credit report for up to seven years after the date of filing.

How can Green & Kapsos Help?

Making changes to your mortgage is best done with the guidance of an attorney who will ensure that all modifications are documented properly and are in your best financial interest. The attorneys at Green & Kapsos, L.L.C. offer a comprehensive mortgage modification program that walks you through all of the paperwork, and breaks down the complex legal language to make certain that you understand all of the new terms and conditions for you loan. To learn more about our mortgage modification program, contact our office today at (414)-543-5369 and set up a free, no obligation consultation.

Short Sale

A short sale allows you to sell your home for less than what you owe the bank, but it requires you to get approval from your loan company and any other lien holders.

When is a short sale a good option?
A short sale is often the best choice if you owe your mortgage company more than what your home is worth and can no longer afford the monthly payments.

What are the pitfalls of a short sale?
Short sales do appear on your credit report for a period of seven years, but they are not nearly as damaging as a foreclosure. Short sales may also leave clients responsible for paying a large sum of money if the bank requires them to pay the difference between the amount owed and the selling price. A bank may choose to forgive that balance, but that must be written specifically in the agreement, or borrowers could be held responsible.

How can Green & Kapsos Law Offices Help?
It is best to have the guidance of an experienced attorney when arranging a short sale, as it can often be complex and confusing. It also prevents you from being taken advantage of by the big mortgage companies, who are ultimately concerned with their bottom line. To learn more about negotiation a short sale, please call our office at (414)-543-5369 and set up a free, no obligation consultation.

Deed in lieu of foreclosure

A deed in lieu of foreclosure agreement requires borrowers to surrender the deed to their home to the bank or lender.

What are the benefits of a deed in lieu of foreclosure?
By transferring the ownership of your home to the bank or mortgage company, you avoid the foreclosure process and its damage to your credit report. Healthy credit will help you to qualify for additional loans at better rates for future investments.

How can Green & Kapsos Law Offices Help?
Banks are often hesitant to agree to a deed in lieu of foreclosure because they do not benefit from acquiring real estate. The attorneys at Green & Kapsos Law Offices, L.L.C. can help negotiate an amicable agreement with the banks and other lenders and help you to understand the complex processes involved with such an agreement. To learn more about arranging a deed in lieu of foreclosure, call our office today at (414)-543-5369 and set up a free, no obligation consultation.

Bankruptcy Law Protection

How can bankruptcy save my home?
Chapter 7 and Chapter 13 Bankruptcy can help eliminate much of your unsecured debts, such as credit cards and medical bills, so you can use your income to become current on your home mortgage payments and other secured debts. Bankruptcy also allows you to put a freeze on penalties and interest, which often prevent debtors from catching up on arrearages.

Chapter 128.28 voluntary amortization of debt is an additional solution, which allows you to set up a five year payment plan with specific creditors without penalties and interest. Much like bankruptcy, this can help restructure your budget to allocate the funds needed to make your mortgage payments and stay in your home.

How can Green & Kapsos Help?
Senior partner, William Green and Managing Partner, Christine Kapsos, are regarded as local experts on bankruptcy, earning them an A+ rating with the Better Business Bureau. Together, Green & Kapsos have filed thousands of successful bankruptcy cases in the last two decades, and can use the bankruptcy code to help you too. To learn more about how bankruptcy can help you, contact our offices today at (414)-543-5369.