You must know all about the Philadelphia foreclosure legal process if the bank comes along and threatens to take your home. Never assume anything and always be sure that you work with foreclosure attorneys in Philadelphia PA to understand your legal rights in this situation. There are things that the creditors must do, such as:
- Informing you of the foreclosure.
- Sticking to the schedule for legal action.
- Contacting you multiple times.
- Providing you with all necessary information.
- Responding to you when needed.
Foreclosure is not something that you’ll hear about right before you lose the house, and it’s not something that rolls along without any chance to put a stop to it. The bank may be large and powerful, but you also have options that Philadelphia foreclosure attorneys can help you investigate.
Bankruptcy and the Philadelphia Foreclosure Legal Process
For example, some foreclosure attorneys in Philadelphia PA can tell you how bankruptcy may help, both in the short term and in the long term. When you declare bankruptcy, according to the Philadelphia foreclosure laws, a stay is put on your case. The entire bankruptcy process, which could take months in a Chapter 7 case or years in a Chapter 13 case, has to conclude before the foreclosure case can continue in most cases. If nothing else, this buys you time.
On top of that, bankruptcy may allow you to keep your home. If you use Chapter 13 bankruptcy, for example, and get an affordable plan to pay off your debt, you may be able to afford your home again. Though the foreclosure laws in Philadelphia do give the banks the power to take your house, you can use tactics like this to stop them. Every case is different, which is why it’s so crucial that you know the foreclosure legal process in Philadelphia PA inside and out. You don’t want to miss any little details that could help your case.
Do you want to hire a lawyer or learn more about the Philadelphia foreclosure legal process? If so, we would love to hear from you, so please call now to set up a free consultation.