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The process of foreclosure allows a lender to repossess property to which they hold title, and sell it to make up for missed mortgage payments.
While property owners also risk foreclosure for delinquent tax payments, it’s important to note that lenders have the legal right to assume ownership of homes which have delinquent loans.
However, foreclosure is an expensive and lengthy process and many lenders prefer to work out payment plans with a homeowner if possible. Banks and other lenders would rather avoid accumulating real estate which they must then sell.
If you are facing a housing foreclosure, contact the legal professionals at O’Connor, Acciani and Levy today. Our Cincinnati foreclosure claims lawyers have the experience necessary to assist you.
Fear of foreclosure can make a homeowner vulnerable. These owners may be afraid of losing their homes, and become desperate.
For example, these property owners often become easy targets for foreclosure rescue operators who offer some illusory assistance. These operators actually intend to assume ownership of homes illegally, or at bargain prices only to sell them at profit. The victims of these scams are often elderly.
The Cincinnati bankruptcy lawyers at O’Connor, Acciani & Levy Co., LPA can help you if your house is in foreclosure.
We can advise you during your financial difficulties and show you how you can save your home. Speak with a bankruptcy attorney today about your foreclosure by calling our office today.
Our attorneys offer free consultations to discuss your legal options for eliminating debt and stopping foreclosure.