Foreclosure Prevention Laws Maryland
The premise of having your home foreclosed on is terrifying for anyone. Your home is where you raise your family and create memories that last a lifetime. Foreclosure exerts an emotional toll on someone just as it does a financial one. What can make this entire situation worse is the constant and unrelenting calls and letters from your mortgage company. Please understand that there are laws in place to help you keep your home and, more importantly, you have options
If you are a Towson, Bel Air or Elkton, MD area resident and are in need of help with foreclosure prevention it is a wise decision to contact a bankruptcy attorney at The Law Office of John P. Downs.
Bankruptcy And Preventing Foreclosure
The FDIC, along with fellow regulators and the banking industry, is currently working to help consumers and the banking and financial industry avoid unnecessary foreclosures. They are also working to stop illegal foreclosure “rescue” scams that promise false hope to consumers at risk of losing their homes. Lenders, such as Bank or America, that originate and service mortgage loans are encouraged to make prudent attempts to find solutions for homeowners having trouble making their mortgage payments. Exploring options that can keep homeowners in their homes may be one of the best ways for lenders to mitigate losses, preserve customer relationships, and maintain safe and stable neighborhoods.
Maryland homeowners who are currently behind on their mortgage payments should contact their loan servicer or reputable counseling agency as soon as possible to discuss options. Troubled borrowers should be careful in dealing with organizations that encourage borrowers to cease making payments or walk away from their home while also promising to repair their credit. If a pitch like this sounds too good to be true, it probably is. Scams such as this can ultimately damage the borrower’s credit and cost more in the long run. Working directly with an experienced bankruptcy attorney is the best approach for troubled borrowers. The Towson MD Bankruptcy Lawyers at The Law Office of John P. Downs routinely help Baltimore, Harford and Cecil County residents keep their homes by exploring all foreclosure prevention options including filing bankruptcy.
One of the biggest concerns regarding foreclosure prevention is what will happen to your credit rating after you are caught up. That should not be such a concern as, if you are already behind on mortgage payments, your credit is already blemished. The goal now should be on getting caught up on payments so that you do not relinquish your home. The attorneys at The Law Office of John P. Downs will help you achieve that goal.
How A Towson Foreclosure Prevention Attorney Can Help You
Rather than suffer another sleepless night and wonder how you are going to get caught up on payments, call the bankruptcy lawyers at The Law Office of John P. Downs to discuss your options for debt relief.
They possess many years experience helping Maryland residents maintain their property, homes, rental homes and vacation homes. They will use their wealth of experience and unparalleled negotiation skills to help you keep possession of your home.
The bankruptcy attorneys at The Law Office of John P. Downs, routinely help distraught borrowers and deals directly with large mortgage banks such as:
Bank of America
These are just some of the financial institutions they have experience with. Call the Towson Maryland Bankruptcy Lawyers at The Law Office of John P. Downs for a free consultation. They will explain all debt relief options to you so that you can choose the right one for you. Do not wait. Call today and get the debt relief you need now.