Foreclosure Attorneys in Bowie, MD
Helping You Keep Your Home in Prince George & Anne Arundel Counties
Are you behind on your mortgage payments? You may be at risk of losing your home—and all accumulated equity—through foreclosure. Your home is most likely your biggest investment, and losing it after making payments for years can be devastating. Through the right bankruptcy filing, however, you may be able to save your home from foreclosure.
At Adams Law Office, LLC, we have decades of combined experience handling all types of bankruptcy filings for homeowners such as yourself. Whether you are struggling to pay your mortgage because of job loss, an unexpected illness, divorce, or any other difficult circumstances, our firm is here to determine the best possible way to overcome your unsustainable financial burden. Through a careful review of your unique situation, we may be able to help you delay or prevent a foreclosure on your home.
Bankruptcy and Foreclosure
Once you fall behind on your mortgage payments, you may be assessed late fees by your lender. After missing several payments, you will probably be issued a “demand” letter seeking full payment of your arrears. After this, if you still cannot make your payment, your mortgage will generally be considered “in default,” which will lead to foreclosure proceedings.
When you cannot make your mortgage payments, you should contact our firm as soon as possible to explore all of your options. We can do everything possible to help you delay or stop the foreclosure process. Filing for bankruptcy before the foreclosure process will put into motion an “automatic stay” by the court, which prohibits all of your creditors from proceeding with collection attempts—including foreclosure—until the bankruptcy process has been completed.
Chapter 13 bankruptcy is one of the most effective methods of rescuing a home from foreclosure. It involves creating a repayment plan to pay back creditors over a 3-5-year period, during which your unpaid mortgage payments can be spread over the course of the plan. If you have enough disposable income after your expenses to adhere to the plan, you will likely be able to keep your home.
You may also be able to save your home by renegotiating the payment terms of your mortgage with your lender (e.g., lowering the interest rate, extending the terms, etc.). The negotiation process, however, requires immediate action. The sooner you contact your lender about your financial struggles, the more likely they are to work with you. If you wait until they have initiated foreclosure proceedings, negotiation is most likely no longer possible.
To discuss all your options, we highly recommend that you turn to our experienced attorneys, who can evaluate where you stand and provide strategic guidance and advice.
Over a Decade of Experience
Over the last 10 years, we have developed a relationship with the trustees and judges in the area, helping to get the top-quality representation you deserve.
We have streamlined our legal processes so preparation and processing are as efficient as possible and the result is what you are looking for.
Premier Client Care
From start to finish, our aim is to provide excellent service to our clients. You are never just another case.
Whether in-person, over the phone, or virtual, your first initial consultation with us is 100% complimentary.