Despite paying their mortgage faithfully for years, a person is hospitalized to battle an illness. During this time, they get behind on all of their bills and, even though they have successfully beaten the illness, they are having trouble catching up on everything. Their mortgage is a pressing concern, but because of how long they were ill and unable to work, they’re finding it more and more difficult to catch up. Eventually, they start to receive notices of foreclosure because of how far behind they are.
This is a reality for many people, and it’s easy to feel hopeless in this situation. The home they worked so hard for may be gone and it’s due to something that was out of their control. Some mortgage companies may be willing to accept extra money each month to help the person catch up, but if the person cannot make even one of those extra payments, the foreclosure process may start. There is, however, help for a person going through this situation. They do have the option of talking with an attorney about their foreclosure in Hamilton OH.
If a person is struggling to catch back up on their bills, especially their mortgage, they may be able to file for bankruptcy. This gives them the chance to fix their finances in a relatively short amount of time, so they are back to being able to make the payments. Depending on their income, the person might file Chapter 7, which means selling non-essential assets to cover bills, or Chapter 13, which means restructured payments for a certain period of time. The lawyer can help them determine which one is better for their situation, but either one can work to stop a Foreclosure in Hamilton OH, as the person is allowed to keep essential assets.
If you’ve fallen behind on your finances and you’re facing foreclosure, there may be help available. Take the time to contact an attorney as quickly as possible to see what could help for your situation. The lawyer will make sure they help you find the right solution so you can keep your home and get your finances back on track again. Visit Domain today for more information.
