Several lawyers are starting to suggest to those victims that cannot make their payments that are still wanting to keep their homes to file bankruptcy instead of letting it get foreclosed on. However, the lawyer’s theory will allow them to file the bankruptcy petition which will place a stay on the case of the foreclosure. Once this takes place it allows your lawyer to be able to negotiate and communicate with your lender to try to work out a plan on your property. In thoughts, this is a good idea, but do the lawyers really negotiate? They simple request for a payment reduction.
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