Many of Mr. Steven Taieb’s clients have tried for years to obtain a loan modification. While one hand on the mortgage company is allegedly helping them get a loan modification, the other hand is beginning foreclosure. Before you know it, a Sheriff Sale is scheduled.
Attorney, Mr. Steven Taieb, has one client who was trying to get a loan modification for seven years and then a Sheriff Sale was scheduled for early February.
Please note THERE IS NEVER ANY GUARANTEE that filing bankruptcy will help you get a loan modification; however, people in bankruptcy may have a better chance of being solicited for loan modifications than people who are trying to save their homes outside of bankruptcy.
However, the major difference is that once a bankruptcy is filed a Stay goes into effect. This means that the foreclosure process is STOPPED.
When one is not in bankruptcy, behind on their mortgage and trying to work with the mortgage company without bankruptcy protections, the mortgage company may continue to proceed with the foreclosure under 1 department and allegedly try to help one get a loan modification through another department.
Even though the bankruptcy never guarantees that a loan modification will succeed, it gives Mr. Taieb’s clients a reprieve from the foreclosure. Not all of Mr. Taieb’s clients have obtained a loan modification, but many have.
If you are behind on your mortgage, your credit is already affected. Chapter 13 will create a Stay to give breathing space to try to obtain a loan modification.
Steven N. Taieb, Esq. is here to help you and is a South Jersey Bankruptcy Attorney who has helped over 7000 people with their financial problems for the past 32 years and is board certified in consumer bankruptcy law by The American Board of Certification which is accredited by The American Bar Association.
We are more than happy to discuss all your options and to see if bankruptcy is the best option for you.