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Can Refinancing Stop Foreclosure?
If you default on your mortgage, the mortgage lender will foreclosure on your property. The bank will enforce its legal right, as a secured creditor, to repossess and sell the property. At foreclosure auction, the lender attempts to recover the money that is owed on the mortgage. Not only can you lose your home, but foreclosure…
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What is a Foreclosure in Virginia Like?
Mortgage lenders use the legal process of foreclosure to recover the unpaid balance of a mortgage by selling real property. Foreclosure can severely damage a homeowner’s credit. And foreclosure can be devastating to a family that loses their home. Foreclosures can be originated by mortgage lenders, homeowners associations, or judgment creditors when the homeowner is…
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Bankruptcy Could Save Your Home
If you are coping with foreclosure, bankruptcy could save your home. While bankruptcy might not just make your mortgage go away, if you want to keep your home, bankruptcy gives you options. Whether or not you’re facing foreclosure, bankruptcy could make your home both more affordable and more valuable. You have other options besides bankruptcy,…
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What are the Bankruptcy Chapters?
Most consumer debtors have two main bankruptcy chapters under the Bankruptcy Code: Chapter 13 and Chapter 7. There are, however, two other types of bankruptcy: Chapter 11 and Chapter 12. Here are the principal differences between the bankruptcy chapters. Chapter 7: Liquidation Chapter 7, also called straight bankruptcy, allows you to discharge most types of…
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When to Consider Filing Bankruptcy
In most cases, the very last thing any person wants to do is to consider filing bankruptcy. In many cases, an average person will wait two years longer than he or she should have to file bankruptcy. Don’t rearrange the deck furniture on the Titanic. Instead, realize it may be time to jump ship. You may…
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Beware of Temporary Mortgage Modifications
On December 1, 2010, Chris Dodd’s final Senate hearing featured testimony from senior Fannie Mae and Freddie Mac executives. These execs blame mortgage servicers for triggering the mortgage meltdown. As a bankruptcy lawyer practicing in Washington, D.C. and Virginia, I have had several clients report the following scenario to me about temporary mortgage modifications. The homeowner…
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Washington, D.C. Officials Combat Foreclosures
On October 27, 2010, Washington D.C. Attorney General Peter Nickles issued a homeowner-friendly Statement of Enforcement. The statement prohibits the commencement of any foreclosure against a D.C. homeowner unless the current mortgage note holder demonstrates the note’s recordation with the District’s Recorder of Deeds. The statement was intended to combat foreclosures initiated without proper documentation. Washington,…
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Anatomy of a Foreclosure: How Foreclosure Works
Foreclosure activity in the U.S. totaled 676,535 properties in 2017, down to a 12-year low. Foreclosure activity includes default notices, auction sale notices, and bank repossessions. Many of those seeking foreclosure assistance ask how foreclosure works. If you are seeking to avoid foreclosure in Washington DC, Maryland, or Virginia, you must educate yourself quickly and…
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Emergency Bankruptcy
A person may need to file an emergency bankruptcy to prevent some particular action by a creditor, like garnishment, repossession, or a foreclosure auction. In such cases, the bankruptcy court allows a bankruptcy case to commence with the filing only of the six-page voluntary petition, without the required accompanying forms and schedules. An emergency bankruptcy…
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Homeowners Association Fees in Bankruptcy
Even if you file bankruptcy and surrender your home, in some cases, your homeowners association can still pursue you for unpaid dues. In Washington, D.C., Maryland and Virginia, homeowners associations have a “superpriority” for unpaid dues. Up until title to the home is actually transferred, you will still owe HOA or condo fees. So what…
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Getting a foreclosure notice feels like the end. It isn’t — but the clock is ticking.
Your lender has no obligation to help you. In fact, they’re counting on you doing nothing. Every day you wait narrows your options and brings the auction closer.
Lee Legal stops foreclosures. Attorney Brian Lee has over 20 years of experience and has helped thousands of DC, Virginia, and Maryland homeowners protect their homes through loan modifications, refinancing, workout agreements, repayment plans, and bankruptcy protection.
We know every stage of the foreclosure process — and we know how to beat it. The moment you receive a notice of intent to foreclose, call us. We’ll assess your situation, explain your rights, and start fighting for your home immediately.
No judgment. No pressure. Just answers — and a plan.
Call Lee Legal today at (202) 448-5136. Your free consultation is waiting.
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