- Mutual Agreement
- Beneficiary’s Request
- Operation of Law (Court Order)
The news is full of stories of banks wrongfully foreclosing on homeowners. Mortgage Lenders and Trustees have laws and procedures they must follow to validly foreclose and take someone’s home. Yet everyday homes are improperly and illegally foreclosed upon. That is where we come in. WE STOP FORECLOSURE SALES!
Lenders use “trustees” to assist them in a foreclosure. Called a Trustee Sale, trustees, acting for the lender, sends out a Notice of Default and later a Notice of Trustee Sale and eventually sells the home at auction. Either the bank takes the home back in their inventory or the home is sold to the highest bidder at the auction. The homeowner just lost their home.
However, trustees can be held liable for improperly foreclosing upon a home. Our law firm, using Federal Law, contacts the trustee and DEMANDS the trustee to verify a comprehensive list of issues related to the legal nature of the foreclosure proceedings enacted by the lender and the trustee. Trustees do not want to be held liable for wrongful foreclosure. Trustees will not foreclose on the property if there is a potential violation pointed out to them prior to the Foreclosure Auction Sale Date. Trustees are incredibly busy and generating huge profits so they will continually postpone the sale date with adequate time to research and respond to the issues raised by your law firm on law firm letterhead to protect themselves.
Our demands postpone your Trustee Sale date, stop the auction and keep you in your home.
You do not pay our fees until after we postpone the Sale.
Our clients are those denied a loan modification, denied a short sale or are simply those who have a Trustee Sale tomorrow and would rather stay in their home longer.
Often our clients go on to negotiate a loan modification or a short sale with the extra time we provide.
You do not have to occupy the home
You do not have to file bankruptcy.
We stop sales. Call us at 301.364.3101 and we will Stop Your Sale.
In Maryland and DC, foreclosure sales (auctions) can be postponed for up to one year per MD Civil Code 2924 g (c)(2) and DC Civil Code 2924 g (c)(2). The postponement reasons are outlined in 2924 g (c) (1), but the following names are commonly used at the Trustee Sale.
We can help you reestablish credit after your bankruptcy is over. You can have a 700 credit score within 1 to 2 years.
The Law Office of William Dave Jackson has been representing personal injury and bankruptcy clients for over two decades. We have the experience and resources to obtain the compensation you deserve and the reputation and experience in debt collection matters, regardless of whether the amount owed is great or small.
You must receive credit counseling during the six-month period prior to filing for Chapter 7 bankruptcy. This requirement was added when the bankruptcy laws were overhauled in 2005. You must get the counseling from an agency that has been approved by the United States Trustee’s Office; you can find a list of approved counselors on their website. If you don’t get credit counseling and file a certificate of completion with the court, your case will be dismissed. (To learn more about this requirement, see What Happens During Prebankruptcy Credit Counseling.)
To start your bankruptcy case, you must file a packet of forms in court. This includes the bankruptcy petition, a number of schedules listing financial information, and a form on which you list your income and expenses, to show that you can pass the Chapter 7 means test (a prerequisite for using Chapter 7). On your forms, you will also claim your property exemptions, under state and federal laws that allow you to keep certain property in bankruptcy. Once you have completed this part of the process, an automatic staygoes into place and stops most creditor collection actions against you for the duration of your case.
After you file your paperwork, the court will appoint a trustee to handle your bankruptcy case. The trustee’s job is to review your paperwork and take your nonexempt property (if you have any) to distribute to your creditors. You have to submit a copy of your most recent tax return to the trustee.
You’ll receive a notice from the court, telling you when your meeting of creditors (also called a “341 meeting,” after its place in the bankruptcy code) will be held. At the meeting, you will have to answer questions about your finances and bankruptcy forms, under oath, from the trustee and any creditors who show up (often, none attends the meeting). This meeting is typically very short.
At this point, the trustee has gathered and reviewed all of your information and the court makes a decision on whether or not you are eligible for Chapter 7 protection. You might not be eligible if you can’t pass the means test (a comparison of your income to expenses to determine whether you could afford a Chapter 13 repayment plan). If the court denies eligibility, you still may have the option to file for Chapter 13 bankruptcy.
If you have any nonexempt property, the trustee will decide whether it’s worth seizing and selling, to distribute to your creditors. You may be able to negotiate with the trustee to keep certain nonexempt property if you can come up with enough cash or are willing to give up exempt property instead.
If you have secured debts — debts that are backed by collateral, which the creditor has the right to take if you default — you must give the property back, redeem it (by paying the creditor what it’s worth), or reaffirm the debt (agree that you will still owe it after your bankruptcy case is over). If you reaffirm any debts and are not represented by a lawyer, you will have to attend a reaffirmation hearing before the judge. (To learn more, see the articles on secured debts in Your Debts in Chapter 7 Bankruptcy.)
After you file and before you get your discharge, you have to complete a debtor’s education course, another requirement added in the 2005 amendments to the bankruptcy law. When you complete the class, you must file Form 423 Certification About a Financial Management Course, with the court.
From three to six months after you file, you’ll receive your bankruptcy discharge in the mail. At this point, the automatic stay is lifted.
A few days or weeks after your discharge is granted, your bankruptcy case will be officially closed, you will no longer be liable to most or all of your creditors, and you can move on with your life.
GET ANSWERS ON HOW TO DECLARE BANKRUPTCY AND GET RID OF YOUR DEBT.
DURING YOUR FREE CONFIDENTIAL BANKRUPTCY ANALYSIS, YOU WILL LEARN: