Attorney for Foreclosure
SERVING PORTLAND OR – BEAVERTON – BEND – GRESHAM OREGON
Financial constraints can make life stressful, especially when they involve your mortgage. No one wants to receive a foreclosure notice, and it can be an emotional and overwhelming process. The Law Offices of George Hoselton understand how complicated the foreclosure process can be, and we’ve briefly outlined important aspects of this difficult process below.
Judicial vs Non-Judicial Foreclosure
There are two types of foreclosures:
- Judicial: This type is created by a lawsuit, brought by the lender against the borrowed. This type of foreclosure must be declared lawful by a judge during a court case.
- Non-judicial: This type of foreclosure does not require a court of law or a judge for approval. A lender is allowed a non-judicial foreclosure if there is a “power of sale” clause within the original mortgage or deed, allowing the lender to sell off the property in the event that the borrower defaults on their loan.
Both judicial and non-judicial foreclosures are allowed under Oregon law, and the foreclosure process is different with both types.
Stop Home Foreclosure Quickly
If you are having trouble paying your mortgage, take action immediately and consult your lender regarding your financial situation. It is always best to be transparent with your financial institution, because they might be able to help you avoid a foreclosure. If you find your financial situation has worsened, you may be able to apply for loss mitigation, which could stop the foreclosure process from even starting. In the event that your loss mitigation application was denied, you can appeal the application as long as the sale of your house is not imminent.
Oregon law requires that homeowners be informed of foreclosure before the process officially begins. If you have received correspondence that your lender is repossessing your property, it is in your best interest to contact a foreclosure defense lawyer or bankruptcy attorney immediately. Once the foreclosure process has begun, it can move very quickly, giving you little time to save your home.
Can I Stop Home Foreclosure by Declaring Bankruptcy?
If you have been notified of home foreclosure or repossession, you can also choose to file for bankruptcy. If foreclosure of your home is imminent, and you’ve exhausted your other options, bankruptcy is the best option going forward. Bankruptcy comes with its own challenges, and you should always consult with a bankruptcy attorney before starting this process.
To better understand the foreclosure process and how to file for bankruptcy to keep your home, contact seasoned attorney George Hoselton today. The Law Offices of George Hoselton can help you get the debt relief you need, providing an affordable bankruptcy attorney and helping you to prevent foreclosure. Don’t delay and call today!
Home Foreclosure Attorney in Portland, Beaverton, and Bend OR
Serving Clients in Portland - Beaverton - Bend OR