Knowledgeable Attorney Assisting Ohio And Kentucky Homeowners
In the midst of the current economic crisis, record numbers of homeowners are facing foreclosure. Income levels for many people are staying the same. Real estate values have declined. In addition, many interest-only mortgages are now coming due, which means monthly payments will increase dramatically. Although the situation is serious, there are steps homeowners can take to avoid foreclosure.
My name is Patrick J. Conway. As a lawyer in Cincinnati, I work with distressed homeowners like you who file bankruptcy to help save their homes. With 29 years of bankruptcy law experience, I have an in-depth knowledge of the processes that can keep you in your family home and rebuild your financial standing.
Mortgage Companies Will Not Help You
When you are facing foreclosure, you might instinctively contact your mortgage lender for help. But it is important to know that:
- Mortgage companies require you to complete large amounts of paperwork
- Loan modifications can take months to approve
- You may never speak to the same mortgage representative twice
- Although the government offered incentives to mortgage companies for finding alternate loss mitigation techniques, lenders are filing more foreclosures than ever before
Bankruptcy Can Save Your Home
Filing bankruptcy can save your home. If you file for Chapter 7 bankruptcy, your unsecured debt, such as credit card bills, medical expenses and personal loans, is discharged. This can free up some of your money for mortgage payments.
If you file Chapter 13 bankruptcy, foreclosure proceedings instantly stop. Your debts are combined into one monthly payment, which you pay back over a 3-5 year period, allowing you time to catch up on mortgage payments in arrears. In some cases, Chapter 13 allows you to remove your second mortgage. To learn more, contact my office.
No Time to Waste
If you are facing foreclosure, time is not on your side. To schedule your free initial consultation regarding your foreclosure issue, contact me online or call my office at 513-924-4517.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
