Foreclosure Lawyer in Waterbury, CT
If you’re worried about being able to make your next monthly mortgage payment and don’t know where to turn, try a simple call to a foreclosure lawyer Waterbury, CT residents trust at the Law Offices of Neil Crane. You need the best advice from the most experienced and committed foreclosure defense attorneys in the Waterbury area. We’ve saved hundreds of Waterbury homes through prompt action and focused defense of your family’s home. Never has there been more options from government protections, state foreclosure mediation and an overall system for saving homes under Chapter 13 bankruptcy options.
Don’t experiment with your own mortgage problems and don’t ever go into the Waterbury foreclosure court without a specialized foreclosure defense attorney. Don’t rely on anyone but your own attorney. Your family’s home deserves experienced and affordable legal representation from the most experienced foreclosure defense attorneys in Waterbury, CT. Whether you’re in foreclosure or just falling behind on your monthly payments, your problems are fixable through proven options.
From Moratorium and Forbearance to Mortgage Modification
As the effects of recent health and financial upheaval impact Waterbury residents, the foreclosure courts have reopened to continue pending Waterbury foreclosures and allow for new foreclosures to start. With Banks and servicers no longer restrained by the pandemic moratorium, homeowners need to respond with answers and options to solve serious mortgage delinquencies, in the many mortgages that were protected by forbearance agreements and foreclosure moratoriums that have now ended.
New options exist under the recent regulations brought forward and put into effect by the Consumer Financial Protection Bureau (“CFPB”) to get help to homeowners seeking to fix mortgage problems by seeking mortgage modifications before and even during a Waterbury foreclosure action.
Don’t go it alone. Serious and powerful new protections are in place, but you need to know how to properly access these programs and force Banks and servicers to approve your properly documented application for a solid, low-interest mortgage modification. It’s a great chance to save homes but you need help and experience to make it happen for you.
Foreclosure Solutions for Saving Homes in Waterbury, CT
Mortgage Modification – These are rewritten mortgage agreements that replace your original mortgage agreement by changing the terms. Modifications that lower interest rates without extending your mortgage’s length are rare, but they are the best possible option. To assure the best possible modification, whether you’re behind, current, or in forbearance, you need to:
- Press your application forward with good documentation and numbers that will work. This is especially true if you’re self-employed or have seasonal changes in your pay.
- Trial modifications are temporary agreements with your bank which usually last three months and sometimes six months. During this period, you make a set monthly payment that is only a trial agreement. It has no final terms. It’s a temporary fix when you want a permanent solution. To get a trial modification to become permanent, seek help from an experienced Bridgeport foreclosure defense attorney.
Predatory modifications are a very common result for many homeowners trying on their own to fix mortgage problems, forbearances or foreclosures. These are mortgages that have very bad terms for the homeowner and actually better serve the bank than you or other better options. Know what you’re signing.
Many modifications are 40-year mortgages that reset completely, potentially wasting years of mortgage payments and in any event, leaving you until the 2060s before your house is paid off. Learn what you’re signing by having your mortgage modification read by an experienced specialized modification and foreclosure lawyer Waterbury, CT homeowners count on at the Law Offices of Neil Crane. We understand all the terms of any modification, good or bad, and we can advise you in advance, potentially saving you thousands of dollars.
Foreclosure Mediation for Homeowners in Waterbury, CT
All foreclosures of residential properties in Waterbury, CT are required to give you an option for foreclosure mediation. Make sure you get an attorney and file for mediation. If you don’t request it, time will expire and you will be out of mediation and moved to the next stages of foreclosure. Mediation is a great opportunity to get dedicated legal assistance and utilize all the avenues for great modifications and long-term homeownership.
Mediation is a court-run process that allows you to submit specialized court pleadings and application packets to seek a foreclosure resolution from your Bank or servicer. The process is entirely controlled by the court foreclosure system and your Bank. All hearings and approvals are the consent of your Bank only. The mediators are not your lawyers, they are neutral parties with no powers to force Banks or services to help you.
Beware: Mediators and Banks encourage self-representation. They wrongly comfort homeowners who don’t have a lawyer or any experience, because the mediator doesn’t have any power over your Bank and doesn’t work for you. You’ll never see a judge to really hear your case. Mediation without representation is the largest cause of home loss in the Waterbury foreclosure system by far. Dozens of unknown and inexperienced homeowners fail in Waterbury mediations every month. The same homeowners could have saved their homes just by getting help from an affordable Waterbury foreclosure defense lawyer at the Law Offices of Neil Crane.
Chapter 13 Bankruptcy Saves Homes from Waterbury Foreclosure
As a Chapter 13 bankruptcy and foreclosure lawyer Waterbury, CT knows and trusts, Attorney Crane has been defending foreclosures in Waterbury, CT since 1983. We understand all the home saving and debt relief powers granted to each individual by the Federal Court to save homes and achieve a true financial fresh start. Chapter 13 stops all foreclosures and allows homeowners to make their next monthly mortgage payment as current and on time. All other payments are fixed through a five-year repayment program created to cure mortgage arrearages and adjust any other type of debt. Chapter 13 is the most comprehensive form of debt relief and it’s written for individuals only, hardworking consumers, and homeowners just like you. It stops all foreclosures at any point in the Waterbury foreclosure system and its federal provisions override all state court procedures and are mandatory on all Banks, servicers, and creditors.
Chapter 13 was written and created for the little or middle man or woman who works hard, struggles daily, and just needs some very well-deserved help in a financial world that always seems stacked against them.
To learn about all the great provisions in Chapter 13, call the most experienced, successful Chapter 13 attorney at the Waterbury Law Offices of Neil Crane at (203) 591-8899. Your initial consultation is a free and comprehensive outline of all your options and how the system works. It’s been our area of expertise since 1983.