Practical effect of Bankruptcy on Foreclosure

If you are facing foreclosure and or other debilitatingLas Vegas Nevada
and caustic financial challenges it is a time for carefulPortland Oregon
reflection because the decisions you are in theLouisville  Kentucky
process of making are going to have lasting effectsOklahoma City Oklahoma
on your credit FICO score, your ability to borrowTucson Arizona
money and the cost of money to you for years toAtlanta Georgia
come.  There are many attorneys who will stronglyAlbuquerque New Mexico
suggest bankruptcy to you as an alternative toKansas City  Missouri
foreclosure.   As a practical matter bankruptcy is notFresno California
an alternative to foreclosure, it ONLY buys you a littleSacramento California
time while having a fairly significant impact on yourLong Beach California
credit.  Trust me, just as soon as your bankruptcy isMesa Arizona
discharged your mortgage lender will be waiting with aOmaha Nebraska
motion to lift the stay on their ability to foreclose on yurCleveland Ohio
property.    Further, bankruptcy can prevent youVirginia Beach Virginia
from obtaining the employment you would otherwiseMiami Florida
enjoy.    It can also prevent you from having certainOakland California
security clearances which is  very  important here inRaleigh North Carolina
Washington DC, Virginia and Maryland area where theTulsa Oklahoma
Federal payroll is the largest supplier of employment.Minneapolis Minnesota
So how does one decide.    This is not legal adviceColorado Springs Colorado
but rather a practical look at choices one has facingHonolulu  Hawaii
foreclosure.   In my opinion, if foreclosure is the onlyArlington Texas
significant  issue you face and you have little or noWichita Kansas
unsecured debt such as credit cards,medical bills, nonSt. Louis  Missouri
secured credit lines or department store credit cards,Tampa Florida
don't get talked into bankruptcy and don't allowSanta Ana California
foreclosure.   You can  Short sell the property andNew Orleans  Louisiana
regroup.  You'll be able to borrow again in 2 yearsAnaheim California
within the new federal underwriting guidelines.    Cincinnati Ohio
Or alternatively, if you are not terribly upside down inBakersfield California
the property you must consider obtaining a REALAurora Colorado
forensic mortgage audit.    More so if you are in anPittsburgh Pennsylvania
adjustable rate mortgage.      99 out of 100 ofRiverside California
these ARM's are loaded with underwriting violationsToledo Ohio
some of which allow you to rescind your mortgageStockton California
altogether.     (go to the rescission page for moreCorpus Christi Texas
on rescission)     A complete forensic analysis ofLexington Kentucky
your mortgage gives you leverage on yourSt. Paul Minnesota
lender.     Here's the deal.     If your lenderAnchorage Alaska
understated the finance charge on your final truth inNewark New Jersey
lending disclosure by more than $35.00  yourBuffalo New York
mortgage is legally non-foreclosable.    Finding thisPlano Texas
violation gives you excellent protection under regulationHenderson Nevada
Z of the Truth in Lending Act.    Banks do not wantLincoln Nebraska
you to know this.    They want to be able toFort Wayne Indiana
obfuscate, procrastinate and humiliate you into givingGlendale Arizona
your last few dollars to them.     In my opinion it isGreensboro North Carolina
so much better to not pay your lender but give theChandler Arizona
money to a good RESPA / TILA attorney to fight forSt. Petersburg Florida
your rights if you find significant violations within yourJersey City New Jersey
mortgage.   It just makes sense.     The lenderScottsdale Arizona
will have a high probability of making you an offer toNorfolk Virginia
lower your rate, fix the rate and potentially give you aMadison Wisconsin
principal reduction if your mortgage has aOrlando Florida
rescissionable  violation of TILA.      A goodBirmingham Alabama
attorney can file an injunction or TRO- TemporaryBaton Rouge Louisiana
Restraining Order to stop foreclosure based on theDurham North Carolina
results of a  forensic loan audit and put you in anLaredo Texas
excellent negotiating posture with your lender.     Lubbock Texas
It works, we know because we do it.Chesapeake  Virginia
Now on the other hand, if you have massiveChula Vista California
unsecured debt and no ability to repay or if it will takeGarland Texas
you 10-15 years to pay off your unsecured debt andWinston-Salem North Carolina
your home purchase was much more home than youNorth Las Vegas Nevada
need and you are significantly underwater, bankruptcyReno Nevada
is a good option.   You can short sell it while inGilbert Arizona
bankruptcy in most cases.   Bankruptcy doesn'tHialeah Florida
carry with it the meaning or social consequences thatArlington  Virginia
it once did in the wake of this credit crisis.    TheAkron Ohio
lenders know that their own policies created theIrvine California
sub-prime buying frenzy that resulted in the economyRochester New York
we now face.   It was in all probability their fault notBoise Idaho
yours.   Further, bankruptcy will cause your cost ofModesto California
money to be higher in the foreseeable future but it willFremont California
not prevent you from borrowing.   Many of ourMontgomery Alabama
clients report getting credit card offers and mortgageSpokane Washington
fliers just months after their bankruptcies areRichmond  Virginia
discharged.  Legal Forensic Auditors shares officeYonkers New York
space with a RESPA TILA attorney and we will beIrving Texas
happy to take a free look at your mortgageShreveport Louisiana
documents to help you determine if a full forensic auditSan Bernardino California
is your best next move.    Fill out the form below ifTacoma Washington
you are in mortgage trouble or facing foreclosure.Glendale California
If you are behind on your mortgage, in jeopardy ofDes Moines Iowa
losing your home, cannot afford your current paymentAugusta  Georgia
because you expected to refi but cannot, Read theGrand Rapids Michigan
step by step QWR page after filling out this form. WeHuntington Beach California
will contact you within 48 hours.Mobile Alabama
We dont spam and your information is completelyMoreno Valley California
private here. We are located in Virginia.Little Rock Arkansas
We are actively looking for TILA and RESPA familiarAmarillo Texas
attorneys in the following cities:    Please contact usColumbus Georgia
if you are a bankruptcy or litigation attorney in one ofOxnard California
these areas who  files rescission actions againstFontana California
mortgage lenders and wish to partner with a realKnoxville Tennessee
forensic mortgage auditing shop.Fort Lauderdale Florida
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