was so exciting when we all entered a new century not all that many years ago. There were fabulous fireworks, excitement and a lot of hope. For too many people, those feelings of hope turned into despair. Home ownership, one of the fundamental tenets of the American dream, became a nightmare for millions of people.
Fourteen years ago, at the beginning of this century, 400,000 families lost their homes to foreclosure. That’s a lot of people, to be sure, but pales before the number of foreclosures in 2012. There were 3,900,000 foreclosures, including 700,000 repossessions. That’s almost 10 times as many, a startling number. The good news is that the number of foreclosures dropped in 2013. However, some people feel that the drop is at least partially due to the fact that a large number of people had already given up in previous years and fewer homes remained at risk.
The statistics can be misleading. Many of those people who received foreclosure letters are still living in those homes today. Receiving a foreclosure notice from the mortgage lender does not mean having to move next week. As soon as someone files for Chapter 13 Bankruptcy, the foreclosure proceedings (and all other creditor phone calls and letters) will be automatically stopped. Homeowners who are able to make a regular mortgage payment will be able to catch up on back mortgage payments and other debts over a 3-5 year period. Of course, that is not the only option available; short sales or other debt restructuring may be a better choice.
R. Dean Snyder, Attorney at Law, has been focused for the more than 20 years on helping his clients make a clean start. He is very experienced with the in’s and out’s of bankruptcy law, the court system and negotiating with lenders. If someone is facing Foreclosure in Hamilton, OH they shouldn’t wait any longer. Browse his website at Domain or contact the office to schedule a free consultation to learn more about the options that are available.
Attorney Snyder was admitted to the Ohio Bar in 1988, after receiving his Juris Doctor from the University of Tulsa College of Law. In addition to his legal practice, he has been doing pro bono work for Lawyers for the Poor since 1993.
