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Massachusetts Foreclosure Help

Boston Massachusetts Personal Bankruptcy and Foreclosure Lawyers; Chapter 7 Bankruptcy Attorney, Chapter 13 Bankruptcy Law Firm, Massachusetts Foreclosure help

The attorneys at Grantham & Associates have years of experience assisting Massachusetts property owners with avoiding foreclosure. Review this website and call us to schedule an appointment.

If you have received a notice of foreclosure, you should contact one of our attorneys immediately; the longer you wait, the greater the chance you will loose your home!! Call: (617) 497-5291.

What is Foreclosure?

Foreclosure is a lender's legal action to end a borrower's property interest. If you default on your mortgage, foreclosure is the legal means by which a bank or other secured creditor can repossess your home or other secured real estate.

Chapter 13 Bankruptcy

A major option to stop foreclosure is to file a Chapter 13 bankruptcy petition, which will stop any foreclosure proceedings against you.  As long as the petition is filed prior to the completion of the foreclosure sale, you may prevent the bank from auctioning the property.  The Bankruptcy attorneys at Grantham & Associates, are experienced in using Chapter 13 Bankruptcy to stop foreclosure and allow borrowers to get their payments current. For more information on Chapter 13 Bankruptcy, contact one of our Boston attorneys; or visit our Foreclosure Question and Answer Page by clicking here. 

Non-Bankruptcy Foreclosure Assistance

There are few options to avoid and stop the foreclosure process. A lender is unlikely to stop any foreclosure proceedings against you once they have hired a law firm to begin the process.  However, the following options are possible alternatives.

Redemption

The surest method to stop a foreclosure is to ask for a payoff statement and “redeem” the mortgage.  In other words, you have a right to pay the outstanding arrearage (overdue payments) and bring your mortgage to current status up through the final auction. 

Short Sale

In some instances, a lender will allow you to sell your home for less than is owed on the mortgage. This is known as a "short sale." This generally occurs when the house is worth less than the outstanding mortgage.

Deed-in-Lieu of Foreclosure

In some circumstances a lender will allow the borrower to "sell" the secured property to the lender for the amount owed on the mortgage, this is known as a "deed-in-lieu of foreclosure." This option is only available where there is only one mortgage securing the property.

Debt Renegotiation

In rare circumstances, a lender will allow a borrower to modify their promissory note, resulting in a reduction in the mortgage payments, or allowing arrears to be paid at the end of the loan period.

Free Foreclosure Consultation
Call (617) 497-5291

At Grantham & Associates, P.C., we believe that you are entitled to know what you are paying for. Therefore, we offer a free one hour consultation with all of our potential new bankruptcy clients. This gives you an opportunity to meet, or speak with a licensed Massachusetts Bankruptcy attorney that will be working with you on your matter.

The Boston bankruptcy lawyers at Grantham & Associates operate as a debt relief agency located in Cambridge, Massachusetts and serving clients in Boston and eastern Massachusetts, including Cambridge, Braintree, Somerville, Revere, Brockton, Chelsea, Peabody, Quincy, Saugus, Winthrop, and the following counties: Essex, Middlesex, Norfolk, Plymouth, and Suffolk.

Disclaimer: The material contained herein may be considered advertising by the Massachusetts Supreme Judicial Court