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Foreclosure Relief

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There are additional options you can explore with our firm to help with your current foreclosure.

SHORT SALE

A Short Sale, also known as a “negotiated settlement” or “short pay”, occurs when the Lender agrees to accept less than the amount owed to satisfy a loan as an alternative to foreclosure.

All mortgage lenders have several layers of bureaucracy, insurers and investors that will have to be negotiated with in order to get a Short Sale Approved. At the Law Offices Anthony Rumore, P.A., we are experienced at negotiating with Lenders to get them to accept a short sale rather than pursuing a foreclosure. We can assist you in the short sale process by:

  • Helping you to identify an experienced listing real estate broker and directing the activities of that broker. Our office will negotiate with potential buyers on your behalf, prepare all agreements, contracts and addendums and submit requisite preliminary settlement closing statements to the lender.
  • We will also issue title insurance for the purchase and close the transaction if agreeable to the parties.
  • Our staff will communicate with all the parties each step of the way to make sure that the closing occurs smoothly and within both the buyer's and seller's timelines.

BANKRUPTCY

Millions of people are faced with escalating financial difficulties. Unfortunately, no one is immune from the possibility of bankruptcy. While taking such action is not ideal, it is important to know that bankruptcy’s primary purpose is to protect the individual from creditors, provide an opportunity to eliminate debt and to provide a fresh start. The following questions may help you determine if you should consider bankruptcy:

  • Have you fallen behind on house payments?
  • Has your car been seized or is it about to be seized?
  • Has your paycheck been garnished?
  • Are your bank notes overdue?
  • Is your credit card debt out of control?
  • Are business expenses out of control?
  • Are bill collectors threatening to take you to court?
  • Have you lost your job?
  • Are you being sued?
  • Do you owe income taxes for more than three years that you cannot pay?

CHAPTER 7

If you have no conceivable way to pay off your debts within the next few years, you may be eligible to file a Chapter 7 bankruptcy. This type of bankruptcy is the most common type of bankruptcy filed by individuals. Chapter 7 bankruptcy may afford you the opportunity to discharge debts, bills and financial obligations, while allowing you to keep your exempt personal property. A Chapter 7 bankruptcy is designed to give families or individuals a fresh financial start without being burdened by old credit cards, bills and judgments.

Filing for bankruptcy is meant to brighten your horizon, not darken it and you can reestablish your credit even after bankruptcy.