Home-ownership represents security and social stability as well as the single biggest investment of most individuals’ entire lives. Endemic economic recession has recently jeopardized many Texans’ ability to retain their largest asset. An unprecedented number of distressed homeowners currently face imminent foreclosure through no fault of their own. The Law Offices of David Kohm are the preferred foreclosure defense lawyers for Frisco TX.
A No-Win Pecuniary Proposition
Lenders sustain enormous economic losses when forced to assume title to delinquent mortgagors’ homes via formal foreclosure. Associated legal fees and sales costs combined with final selling prices that are far below the former occupant’s outstanding loan balance eat deep holes in corporate stockholders’ pockets.
Local communities likewise suffer when surrounding landscapes are littered with empty dwellings that function as eyesores and crime magnets. Such circumstances rapidly exacerbate widespread real estate devaluation.
Severely delinquent mortgage debtors who succumb to full foreclosure sustain severe credit damage that will haunt their finances and future home ownership dreams for at least a decade. Concurrent domestic disharmony and extreme emotional distress complete the bleak picture.
Foreclosure Lawyer as Rescue Agent
Professional intervention is required to interrupt the above-described chain of deleterious events. Many Texas attorneys maintain high-profile bankruptcy practices. Very few possess the specialized negotiation skills and vital support staff essential to effectively divert economic disasters induced by imminent foreclosure, however.
Thus, a competent Frisco foreclosure defense lawyer is a distressed homeowner’s best friend, most loyal advocate, and first line of protection against pecuniary devastation.
Effective Cure for a Common Catch-22
Many public and private programs have recently been devised in the massive struggle to stem to rising tide of American foreclosures. Such laudable efforts have severe limitations that often defeat the agendas they were designed to advance, however. Chief among them are stringent eligibility criteria, cumbersome application procedures, and long waiting periods for final approval. The net result is arbitrary denial of desperately needed assistance to distressed applicants who have paid the taxes and interest income that support such schemes.
Many avoid filing for bankruptcy due to unfounded fears of forced asset forfeiture and decade-long credit impairment. Such misconceptions are most unfortunate and very inaccurate, however.
In fact, there are multiple means of invoking legal protection from bankruptcy courts. Judicially-supervised debt reorganization via Chapter 13 Bankruptcy is a popular option, for instance. This strategy allows distressed mortgage debtors to retain their homes while working out permanent solutions to current budgetary crises.
Final bankruptcy discharge typically does not occur until months or years after initial filing. Thus, you can freely pursue other foreclosure avoidance alternatives without fear of running out of time.
Start an effective program of personal economic recovery right now. You and your family deserve nothing less than the best legal assistance available to preserve the financial security you have worked so hard to attain.
Many legal foreclosure avoidance options are time-limited. Missing a deadline by one day or failing to submit a single form can be fatal to zealous attempts to retain valuable realty assets.
Contact one of the Frisco TX bankruptcy attorneys at the Law Offices of David Kohm by calling 817-204-0900 or visiting them online.
