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Foreclosure Assistance

ATTORNEYS FOR HOMEOWNERS FACING FORECLOSURE

Are you at risk of losing your home because you are unable to pay your mortgage? Is the bank threatening you with foreclosure? Has a sale date already been set?

At John T. Turco & Associates in Omaha, we can help you avoid foreclosure by filing for bankruptcy protection. We can also help you understand your non-bankruptcy options for avoiding foreclosure. Contact us to schedule a free initial consultation with an experienced bankruptcy lawyer.

Stopping the Foreclosure Sale by Filing Bankruptcy

If you are behind on your mortgage payments, your lender can have your property sold to repay the debt. In Nebraska, this is done through a non-judicial foreclosure sale. In Iowa, it is done through a sheriff’s sale. If your bank is moving forward with foreclosure, you will get notice of a sale date.

Foreclosure can be stopped by filing for bankruptcy as late as the day before your sale date. Once bankruptcy has been filed, the sale cannot move forward.

Both main types of bankruptcy have benefits when it comes to keeping your home.  Chapter 13 bankruptcy allows you to catch up with late payments over the course of three to five years. Chapter 7 bankruptcy can eliminate other debts so you can focus on making your mortgage payments.

Understanding the Risks of Non-Bankruptcy Options

Bankruptcy is not the only way of avoiding foreclosure, but it may be the only option that gives you legal protection. You should be very careful when considering alternatives to bankruptcy.

Your mortgage company may be holding you off with promises that they will be willing to work out a deal with you, but until you have a workout deal in writing, nothing is binding. We get many clients who thought they had a deal and then learned that a foreclosure sale was scheduled. All of your efforts to work out a deal should be communicated by certified mail.

There are also companies, many of them out of state, that advertise that they will negotiate with your bank for you. Unfortunately, some of these companies are disreputable and take your money without delivering. None of these companies have the legal protections of bankruptcy on their side.

Our attorneys will be happy to advise you on all of your options to avoid foreclosure.  Contact us today to discuss what you can do if you are unable to pay your mortgage.

 

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

This site is not intended to constitute legal advice, nor does it create an attorney-client relationship. The materials on this site are not guaranteed to be complete or current, and they should not be relied on as a substitute for legal advice. This site conveys general information related to bankruptcy law in Omaha, Papillion, Bellevue, Gretna, Council Bluffs and surrounding communities. If you are contemplating or involved in any matter in which legal advice or other expert assistance is required, the services of a competent professional should be sought. The determination of the need for legal services and the choice of a lawyer are extremely important decisions and should not be based solely upon advertisements or self-proclaimed expertise. This disclosure is required by rule of the Supreme Court of Iowa. Memberships and offices in legal fraternities and legal societies, technical and professional licenses, and memberships in scientific, technical and professional associations and societies of law or field of practice does not mean that a lawyer is a specialist or expert in a field of law, nor does it mean that such lawyer is necessarily any more expert or competent than any other lawyer. All potential clients are urged to make their own independent investigation and evaluation of any lawyer being considered. This notice is required by rule of the Supreme Court of Iowa.