White Plains Foreclosure Defense Lawyers
Fighting Foreclosure for Homeowners & Businesses in New York
Have you been served a notice that your home or business will be subject to foreclosure proceedings in or around White Plains? For most people, their biggest investment is their home and/or business. Losing it can be a devastating blow that can take years to overcome, especially because of the impact foreclosure can have on your credit score.
At the first sign of a potential foreclosure, we urge you to contact the Law Office of Charles A. Higgs to learn how we can help you fight back. Our firm has provided legal assistance to debtors in the White Plains area for over a decade, helping thousands of people implement legal solutions to their overwhelming debt. We can offer you fully personalized, one-on-one attention, creating a legal strategy tailored to your individual needs and goals.
Foreclosure Defense Strategies
If you cannot make your mortgage payments, you are not alone. You may be able to either avoid foreclosure or fight it on legitimate grounds of mistakes, predatory lending, issues within your contract, or errors in the legal procedure brought against you. Our reputable and trusted foreclosure lawyers can determine whether the foreclosure notice will stand up in court, whether you can litigate against it, or whether you should seek other options.
Because the Law Office of Charles A. Higgs has extensive experience helping homeowners and business owners facing foreclosure, we are familiar with the common mistakes lenders make in foreclosure actions. We then use those mistakes to try and get the foreclosure dismissed or as leverage to obtain a loan modification.
Other options in foreclosures cases can include:
- Loan modifications, in which you and your lender work out new terms of the loan that would lower your monthly payments. This can be done through lower interest rates, extending the term length of the loan, or adding any arrears to the loan balance.
- Reinstatement of your loan, in which you make up the arrears. This may be your right as part of your contract, and lenders may be more amenable to this option rather than going through the legal expense of a foreclosure.
- Repayment plans, where you make up your arrears over a finite period, such as six months, while still staying current with your ongoing payments.
- Forbearance agreement, where your lender allows you to miss payments for a set period of time with the agreement that you will make them up at a later date.
- Filing for Chapter 13 bankruptcy, which often allows debtors to save their homes from foreclosure.
- Selling your property in a short sale, which means selling it for less than what you owe on your mortgage. This avoids foreclosure, but it means giving up your property and facing both credit damage and potential tax consequences.
- Deed in lieu of foreclosure, in which you return your property to your lender without going through the foreclosure process. You will want to ensure you are not obligated for any deficiency when the house is later sold.
All the above options have their own advantages and disadvantages. Our firm can review your unique situation and provide sound legal counsel so you can make the decision that works best for you. Most importantly, you must meet all initial deadlines and respond to notices in a timely manner. As such, getting in touch with our team right away is critical.
How Can Bankruptcy Help Foreclosure?
Bankruptcy can be an effective option for homeowners who are facing closure. If you are behind on your mortgage payments and are facing the possibility of losing your home, bankruptcy may be a way to help you avoid foreclosure, or at least delay it.
When you file for bankruptcy, the following happens:
- Automatic stay goes into effect which stops all creditor collection activities, including foreclosure, repossession, evictions, etc.
- If you are filing for Chapter 7 bankruptcy, you can discharge unsecured debts, and can only avoid foreclosure if you are able to continue making mortgage payments.
- If you are filing for Chapter 13 bankruptcy, you can keep your home by negotiating a repayment plan over a period of a few years.
Bankruptcy may not be the right choice for everyone, so it is important to discuss your situation with an attorney. If you have any questions about your foreclosure defense options, or would like to learn more about bankruptcy, contact our team for more information.
“Mr. Higgs followed my case from start to finish and did an excellent job.”- Beth
“He was able to walk me through this process so I could put my debt issues behind me.”- Former Client
“Mr. Higgs took the time and energy to understand every nuance, proposed alternative strategies, and in a single day.”- John