Law Offices of Charles A. Maglieri
Free Consultations
Bloomfield
860-242-0574
Marlborough
860-952-3674

Posts tagged "Foreclosure Alternatives"

What is a deed-in-lieu of foreclosure?

As a Connecticut homeowner in financial distress, you want to avoid foreclosure on your property and the negative consequences it can have on your credit score. To accomplish this, sometimes you need to make some sacrifices. A deed-in-lieu of foreclosure is an arrangement in which your mortgage lender agrees not to foreclose on you in exchange for you turning over ownership of your property. 

What do you do if you cannot make mortgage payments?

There are many advantages to purchasing and owning a home in Connecticut, from both a financial and personal point of view. However, owning a home can become burdensome if you have a change in financial circumstances and can no longer afford mortgage payments. 

The story behind Fannie Mae and Freddie Mac

People who have obtained a mortgage in Connecticut, or are actively seeking one, have likely heard the names Fannie Mae and Freddie Mac. They might sound like the names of friendly new neighbors, but in reality, they are government-sponsored agencies who guarantee most of the mortgages in the United States.

What are some foreclosure scams to watch out for?

Missing mortgage payments and facing foreclosure in Connecticut is a serious financial situation, and you may not know where to turn for help. Unfortunately, there are unscrupulous people out there who view your misfortune as an opportunity to profit from your pain. They may offer you ways out of your financial difficulty that may seem too good to be true, and according to FindLaw, that is because they are usually scams designed to cheat you out of your home by taking advantage of your desperation. 

How can you recognize a foreclosure rescue scam?

When you are having severe financial difficulties, possibly including the threat of foreclosure, in Connecticut, it can feel like you are drowning. An offer of help paying off your debts and preventing foreclosure may seem like a lifeline. Unfortunately, foreclosure rescue scams are prevalent, and those who run them are attempting to take advantage of your panic and desperation in order to make money off you. If you fall for one of these scams, you may end up in even worse financial trouble than you were in to begin with. 

How are zombies real in the bankruptcy world?

You might think that zombies are merely a product of Hollywood and books. While this is true when it pertains to the undead coming for your brains, a different type of zombie can threaten Connecticut homeowners who are facing a foreclosure. The term for a home that is languishing in the foreclosure process is a zombie foreclosure.

What can I do to avoid foreclosure?

The prospect of foreclosure is daunting for Connecticut homeowners. However, if you’re unable to make mortgage payments that will be exactly what you’re faced with. Some homeowners are able to pursue alternatives, which can prevent a lengthy and often costly foreclosure process. Realtor.com explains 3 different ways to avoid foreclosure that might be available to you.

What is the HAFA program?

If your debt situation has gotten out of hand and you fear losing your Connecticut home to foreclosure, you may wish to consider the Home Affordable Foreclosure Alternatives program. As HomeOwnership.org explains, HAFA is a federal governmental program that gives you a foreclosure alternative if you wish to short sell your home or give a deed in lieu of foreclosure to your mortgage lender.

What is the HARP refinance program?

If you are a Connecticut homeowner facing financial difficulties, you may fear that you will be unable to stay current with your mortgage payments and therefore lose your home through foreclosure. Another problem you may face is that your home has lost value since you purchased it and is now worth less than your mortgage balance. If this is your situation, you may wish to check out the Home Affordable Refinance Program, popularly known as HARP.

Discuss Your Case With A
Respected Bankruptcy Attorney

Contact my office to discuss your debt relief needs directly with me as your lawyer. I offer a free initial consultation to all new clients where you can learn more about your legal options and what I can do to help you. I am available during regular business hours and by appointment at other times. You can reach me by phone at 860-242-0574 and 860-952-3674 or via email.

My law firm is a debt relief agency as so designated by Congress in the year 2005. I help people file for bankruptcy relief under Title 11 of the United States Code, known as the Bankruptcy Code.

Schedule A Free Consultation

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Email Us For A Response

Bloomfield Office
34 Jerome Avenue
Suite 316
Bloomfield, CT 06002

Phone: 860-242-0574
Fax: 860-243-0106
Map & Directions

Marlborough Office
9 Austin Road
Suite 201
Marlborough, Connecticut 06447

Phone: 860-952-3674
Fax: 860-243-0106
Map & Directions