Should I consider bankruptcy or foreclosure defense?
This is a question I get many times from my clients. The answer depends on each client's uniques set of circumstances. If all a client is facing is a foreclosure suit and no other debts, we need to find out what type of noneconomic values the client has on keeping the home.
Most homeowners are underwater, and at the end of the day, if the loan is reinstated through a bankruptcy, is the client satisifed on paying for an investment that may never have equity again? If a client has no real attachment to the home, foreclosure defense may alllow someone to stay in the home longer without making a mortgage payment than ad they not tried to fight it.
The HAMP (Obama plan) has not really worked well and borrowers are being left in limbo on whether or not they will be approved for loan modification. If the debtor has other debts that need to be controlled through a bankruptcy setting, than maybe bankruptcy is something the debtor should consider.
If you have questions about Florida Divorces or Bankruptcy Law contact a Florida Attorney
Greg Gilbert
Keith Maynard
