Due to the state of the current economic and real estate markets, many individuals and families are facing extreme financial challenges. This can result in them facing the foreclosure of their home. Though foreclosure may seem like an overwhelming and scary situation, there are options for putting a stop to foreclosure proceedings.
At Volman Law, we are committed to helping individuals and families address the possibility of foreclosure. Our attorneys and staff understand the emotions that are tied to the thought of losing one’s home. Our firm works hard to protect what you have worked so hard to earn. We can help you explore your options for stopping foreclosure, including utilizing the foreclosure mediation process. Contact a foreclosure lawyer at Volman Law at (203) 929-7771 to schedule a free initial consultation.
The Foreclosure Mediation Process
The Connecticut Foreclosure Mediation Program is a process through which a homeowner and a lender sit down with a third-party, impartial mediator to facilitate give and take in order to reach a resolution that is acceptable to both sides. The discussions center on overdue mortgage payments, mortgage modifications and how payment can be made on what is due.
The Foreclosure Mediation Program is available to owners/occupants of a residential property that is being foreclosed upon after July 1.
Foreclosure May Not Occur
It is important to know that while in mediation, a lender may not foreclose on your home, mediation does not guarantee that a resolution will be reached. Unfortunately it is possible for the process to fail and the home may go into foreclosure. However, If mediation is not attempted, you will not know if there could have been an avenue through which your home could have been saved.
You do not have to face Chapter 7 or Chapter 13 bankruptcy alone. A skilled and understanding lawyer at Volman Law can take the time to get to know you, your needs and how we may be able to help you. Contact the Connecticut Chapter 7 bankruptcy lawyers at Volman Law to schedule a free initial consultation.
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