Massachusetts Home Foreclosures Attorney
Is Your Property in the Greater Boston area in Foreclosure?
Foreclosure occurs when a homeowner has difficulty keeping up with his loan payments and the bank seeks to recoup its loan by taking the property. This often happens where a homeowner has been laid off work or has encountered heavy medical bills. If this has happened to you in the Greater Boston North Shore region, it is possible for you to secure relief from the foreclosure and improve your overall monthly payment by contacting our foreclosure real estate lawyers, located in Malden, Massachusetts.
What May be Done about Foreclosures?
When you fall behind in your payments and the bank begins foreclosure proceedings, you may file Bankruptcy Chapter 13. Upon filing, you receive a stay against the foreclosure. You then have time to work out a repayment plan of all your debts over a three to five year period. You may be able to spread your arrearages on the mortgage over the period of the payment plan. What’s more, if you have a second mortgage on the house and the value of the house has dropped to where there is no equity backing the second mortgage, you may seek to have that second mortgage canceled and turned into a simple unsecured debt. You are then no longer stuck with the fixed second mortgage payment. The debt would be lumped with your other bills to be paid in one manageable interest-free payment. This may considerably reduce the amount you pay monthly so you can now afford the payment on your first mortgage and keep your house.
Foreclosures Lawyer for Boston’s North Shore Communities
Our Massachusetts foreclosure attorneys are ready to help you with your foreclosure in the Greater Boston area. We are skilled in obtaining relief from foreclosure actions and helping debtors to formulate a workable plan to keep their homes. We invite you to call for a consultation with a foreclosure attorney at the firm. The attorney will review your case and advise how the firm may assist you.
The Boston North Shore foreclosure attorneys are located in Malden, Massachusetts and serve the entire Greater Boston North Shore region including the communities of Everett, Revere, Chelsea, Somerville, Cambridge, Medford, Arlington, Winchester, Woburn, Burlington, Stoneham, Melrose, Wakefield, Saugus, Lynn, Peabody, Salem, Marblehead, and Swampscott. Our foreclosure lawyers speak and provide legal services in Spanish and Italian.