Do You Need a Foreclosure Lawyer in Farmington Hills MI?

You just got a foreclosure notice in Farmington Hills. What does that mean?

Foreclosure is a legal process that can happen when the borrower fails to make payments on their mortgage. Foreclosure is a last resort for lenders who have tried unsuccessfully to contact borrowers and collect payments. It’s also an option for those who are in danger of losing their home or property due to unpaid debt. If you’re facing foreclosure, it’s important to know your rights and options before making any decisions about what you want to do next.

You own a house in Farmington Hills, but you have a big debt. Am you subject to foreclosure?

Foreclosures are happening more frequently than ever before, as banks try to clean up their act after the mortgage crisis over a decade ago. Foreclosure starts when a lender notifies homeowners they have fallen behind on payments. As a homeowner, it is possible for you to lose your home. Foreclosure can be devastating, whether it’s your first time or not; and when the stakes are high-your wallet, livelihoods of those who rely on you financially-the idea of this happening shouldn’t scare anyone.

What happens if your mortgage rises so much you cannot afford it anymore?

A rise in your mortgage payment is a huge problem. You may not be able to afford it and you will likely lose your home if you are unable to come up with the money. The solution is obvious, but how do you actually get rid of the extra payments? 

1. Try to negotiate with their lender, but that can be difficult if you have little or no equity in their house
2. Seek out a short sale, which can take months or even years before you find a buyer willing to accept less than what’s owed on the property
3. Face foreclosure, though this means giving up any equity that has been built up over time as well as paying for legal fees and other associated costs
4. Sell the home outright

However, this doesn’t solve all of the problems because it leaves you without a place to live while you wait for an acceptable offer from potential buyers. At Babi Legal Group we are ready to be at your side and find the best possible option for your family and you!

Is foreclosure an option to narrow your debt?

At Babi Legal Group we can tell you exactly what to expect if foreclosure becomes an option from which there isn’t any escape. We are experts at telling homeowners how they should fight back against losing their homes because foreclosures don’t discriminate based on age or location in neighborhoods in Farmington Hills MI. Foreclosure law can affect us all differently; what’s best for one homeowner might not work well for another so there are things to consider before going down this path if at all possible. Call us today so one of our attorneys explains all your options!

What do I do if the bank just notified me of foreclosure in Michigan?

The home you thought was yours is about to be seized, but there are ways in which we can help make sure that doesn’t happen. It all starts with a phone call and the understanding that a problem shared is better than one left unspoken-especially when it comes to your home and who should be able to legally keep it.

How much money does bankruptcy cost in Farmington Hills?

You may be wondering how much it costs to file bankruptcy. The answer is that there’s no set cost, as the type of bankruptcy you choose depends largely on your circumstances. If you schedule a consultation with us, we can get more information about what kind of personal financial situation you’re in and determine which option would work best for your case. Our fees are both affordable and reasonable, so whether this is an issue affecting one or all members of a family, we should have plenty to offer!

What happens if I am unemployed but file for bankruptcy?

If you have been unemployed for a while, there are some things to consider before making this decision. Filing can help protect assets from creditors and provide relief from overwhelming debt obligations so that an individual can focus on rebuilding their life without worrying about how they’ll make ends meet each month or whether they’ll lose their home or car if they don’t keep up with payments.

Will I be able to lead a normal life after bankruptcy?

The answer is yes. Filing for bankruptcy will help your credit soon. After a case, any debts you are discharged will be removed from your report. If you keep some of the same debts, then they will stay on after 2 years. But if you change the ratio of debt to income, then your credit score could go up quickly too. Most people find that they can get an FHA loan to finance a house 2 years after receiving a Chapter 7 discharge. Let us help you go through this difficult process. Together with us, you will see the end of these difficult times soon!

What makes Babi Legal Group’s approach to bankruptcy so successful?

Babi Legal Group takes a holistic approach when dealing with clients who are working through their financial issues. We work closely with our clients to create customized solutions so they can move forward after filing for bankruptcy protection without having any lingering debt hanging over them.