Foreclosure Defense Lawyer Serving Raleigh, NC
Facing the loss of your home through foreclosure is one of the most stressful and frightening situations you can face. Knowing that you could lose your home creates anxiety and puts intense pressure on you and your family. If you don’t get the help you need, you and your family could end up without a place to stay, impacting your future in countless negative ways.
At Sasser Law Firm, we know the toll that going through financial trouble can take. This is a painful, stressful time in your life. We want to help you however we can.
When you employ our firm, you will work directly with one of our four experienced, highly knowledgeable bankruptcy and foreclosure attorneys. Your case won’t be given to a paralegal or an assistant. The lawyer you meet with during your first visit will be the attorney who will work with you for the duration of your case.
Sasser Law Firm is well known in North Carolina for our dependability and results. We’ve been helping families in Raleigh and throughout North Carolina for more than 20 years. In that time, we’ve helped more than 8,500 people and businesses get the financial relief they need.
The earlier you hire a Raleigh foreclosure defense lawyer, the better chance you may have of keeping your home. Get your free and confidential consultation with us today by calling us or visiting our contact page.
What Is the Foreclosure Process in North Carolina?
There are two ways in which a bank or other lender can file for foreclosure if you’ve missed payments on your home. The first is by filing a foreclosure lawsuit, and the second is by conducting a foreclosure sale under the terms of a deed of trust. We’ll discuss both methods here.
If the bank or other lender decides to file a foreclosure lawsuit, they will need to obtain a judgment of default from a judge before they can remove you from your home. Once the judgment has been obtained, the lender can go to the courts and have them appoint a commissioner to oversee a foreclosure sale. The lender can also ask the courts to send an eviction notice to the home’s occupants, provided the occupants have 10 days’ advance notice to leave the premises.
If the lender decides to file for foreclosure under the terms of a deed of trust, the process works slightly differently. First, there’s a preliminary hearing to determine whether the foreclosure should take place. This hearing is held before the clerk of the county court. The notice must be given to the home’s occupants ahead of time, so they have a chance to make their case at the hearing. Notices must be sent to the borrower and other occupants of the home, anyone who owes money or could potentially owe money on the mortgage, and anyone who has a recorded claim or lien on the home that would be affected by the foreclosure.
During the hearing itself, the lender and other parties present evidence showing whether the foreclosure should be allowed to proceed. Once all parties have presented their evidence to the clerk, they will determine whether a default has occurred, if the lender has provided sufficient evidence that they own the debt in question, and whether the foreclosure process should be allowed to continue.
If the clerk rules in favor of the lender, the foreclosure will continue. Either side is allowed to appeal the clerk’s ruling within 10 days. If the clerk has ruled in favor of the lender, they can post a notice of foreclosure sale and proceed accordingly, as well as have the home’s occupants removed.
What Are My Options If I Am Facing Foreclosure in North Carolina?
Despite how dire your situation may seem if you’re facing foreclosure, you still have options. The foreclosure process takes time, and you can use that time to come up with a plan to help you save your home.
Your best bet if you’re facing foreclosure is to speak to a Raleigh bankruptcy and foreclosure attorney. When you speak to an attorney, they can give you more information about your options and what your best path forward might be.
In some cases, the best chance you have to save your home is to file for Chapter 13 bankruptcy. Under the terms of Chapter 13 bankruptcy, you can have some of your debts discharged and restructure your remaining debts, allowing you to resume making your mortgage payments and avoid foreclosure.
Filing for Chapter 13 bankruptcy also puts an automatic stay on your foreclosure proceedings and prevents creditors from repossessing your vehicle and other secured assets. Together, these steps give you invaluable time to come up with a plan and a budget that can allow you to keep your home and as many of your other assets as possible.
There are certain situations where Chapter 13 bankruptcy may not be your best option. For example, if you owe more money than your home is worth and you have other debts as well, then you might be better off filing for Chapter 7 bankruptcy.
Chapter 7 bankruptcy works differently from Chapter 13 bankruptcy. Although Chapter 7 bankruptcy puts a stay on foreclosure proceedings, all of your assets are sold off, and your remaining debts are discharged. This means losing your home. But it also means you are able to emerge from the bankruptcy process debt-free. This could make it easier for you to find a new home without that debt weighing on you.
Finally, there is a process for reversing a foreclosure sale, provided you do so within 10 days of the sale. Our foreclosure lawyers can walk you through this process and help you file an emergency petition if doing so is best for you.
Could Bankruptcy Stop Foreclosure?
There are several ways in which filing for bankruptcy can delay or stop the foreclosure process. Filing for Chapter 7 or Chapter 13 bankruptcy puts an automatic stay on all foreclosure proceedings, though this delay is only temporary. However, you can use this time to come up with a payment plan and submit it to the courts. If the courts approve the plan, the foreclosure process will be stopped, and you’ll keep your home.
The bankruptcy process also allows for other ways to stop foreclosure proceedings. During the process, borrowers have a chance to present evidence to the courts demonstrating why the foreclosure should not be allowed to continue. If you can show that the bank does not own your mortgage or has not followed the proper legal procedures to foreclose on your home, you can immediately halt the process.
How a Raleigh, NC Foreclosure Attorney Can Help
It’s crucial that you get help from an experienced foreclosure defense attorney if you’re in danger of losing your home.
Here’s what we can do for you when you hire our firm:
- Outline your options. Foreclosure proceedings can be very complicated, so you’ll want to find someone who can explain what your options are in easy-to-understand terms. Our attorneys have decades of experience helping homeowners in situations like yours. We’ll explain the different kinds of bankruptcy, the pros and cons of each one, which one best fits your situation, and help you with the process once you’ve decided on a course of action.
- Gather evidence. You have rights during the foreclosure process, and we’ll make sure those rights are fully upheld. If you contest a foreclosure, your lender will have to show that they own your mortgage and have followed the proper procedures. If they cannot show proof that they own your mortgage, or if you can demonstrate that they have not followed the proper procedures, you might be able to have the case against you dismissed.
- Create a bankruptcy plan. Whether you end up filing for Chapter 7 bankruptcy, Chapter 13 bankruptcy, or going with another option, we’ll make sure you’re putting your best foot forward. We’ll help you get as many of your debts discharged as possible, and we’ll help you create a budget that will allow you to keep making your mortgage payments and pay down your remaining debts.
- Keep your case moving smoothly. There are many tight deadlines to meet and forms to fill out in a foreclosure case. Missing those deadlines can make the difference between keeping your home and losing it. Our attorneys will work to ensure that your case proceeds smoothly while we focus on getting your finances in order.
Speaking to an attorney as soon as possible is crucial if you want the best chance of preventing your home from being sold in foreclosure. Schedule a free and completely confidential consultation with one of the Sasser Law Firm attorneys today by calling us or visiting our contact page.