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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Real Estate Law
Satisfied Customers: 12955
Experience:  B.A.; M.B.A.; J.D.
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I just went into foreclosure, I want to keep my house. What

Resolved Question:

I just went into foreclosure, I want to keep my house. What steps do I take. To make this possible?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Phillips Esq. replied 1 year ago.
Thank you for giving me the opportunity to assist you. Kindly use CONTINUE or REPLY button to ask for clarification or follow-up questions


I am sorry to hear about your difficulties. I need clarification.

Has your property been in fact sold by the lender? The reason that I asked is that I do not see how the lender can foreclose on your property if you just failed to make payment on May 31, 2013. The lender must give notice of the sale before the foreclosure. So, I do not see how this property could have been foreclosed that fast. It cannot be done that fast, legally.

Customer: replied 1 year ago.
No the property has not been sold. By the lender.
Expert:  Phillips Esq. replied 1 year ago.

Thank you for the clarification.




Your initial post:

I just went into foreclosure, I want to keep my house. What steps do I take. To make this possible?

Optional Information:
State relating to question: Georgia
Additional information to your question: Gmac sold my Mortage to Green Tree, since i was already 2 months behind at the point of the sale. I came into agreement with green tree to pay a higher note for 5 months. To get me out of the red. I was aloud to make payments from the 23rd till the end of the month. I was appointed a point of contact person to make my payments through On FRiday MAy 31th I tried to make my payment but my phone number was routed directly to his voice mail, Meaning I could not make a payment with going through him. On that day I felt him several voices Non which have been returned. By him bot answering the phone it has caused them (green tree) to foreclose on my property. I want to keep my property. Iv called green tree at 20 times since that Friday. Iv been lied to an they never return calls. What are my options.



Response: When the lender starts a foreclosure action AND YOU GET A SALE DATE, then you need to file Chapter 13 Bankruptcy at that time to stop the foreclosure sale. You do not want to file too early in the process. You can file for Chapter 13 bankruptcy protection few days before the foreclosure sale date to stop the foreclosure. So, long as the bankruptcy is filed before the sale date, the foreclosure sale must stop. The Notice of the Bankruptcy Filing must be sent to the lender or the law firm/trustee conducting the sale for the lender so that the foreclosure sale can be cancelled

An individual (“consumer debtor” or “debtor”) would be able to file a Chapter 13 if the debtor has disposable income—extra income after necessary expenses every month to fund a Chapter 13 plan and the debtor must also meet the debt limit requirement. In order to file for Chapter 13, a debtor's unsecured debts must be less than $383,175.00 and secured debts must be less than $1,149,525.00. In Chapter 13, the debtor prepares a payment plan and makes payments to his/her creditors on a 3 or 5-year plan. If the debtor's income is equal to or less than the current income guidelines for his/her family size in his state, the debtor would do a 3-year plan. However, if the debtor's income is more than the current income guidelines for his/her family size in his state, he would do a 5-year plan. His mortgage arrears and unsecured debts would be paid through the Chapter 13 plan.

The filing fee for Chapter 13 is $281.00


These are current income guidelines for the State of Georgia:


Family size of one person $41,214.00
Family size of two persons $
51,954.00
Family size of three persons $
56,189.00
Family size of four persons $
67,214.00
Add $8,100.00 for additional individual

The debtor must receive budget and credit counseling from an approved credit counseling agency and obtain a Certificate of Credit Counselling to be filed at the same time with his bankruptcy petition. The agency will review possible options available to the debtor in credit counseling and assist the debtor in reviewing his budget. Different agencies provide the counseling in-person, by telephone, or over the Internet.

It is usually a good idea for the debtor to meet with an attorney before he receives the required credit counseling. Unlike a credit counselor, who cannot give legal advice, an attorney can provide counseling on whether bankruptcy is the best option. If bankruptcy is not the right answer for the debtor, a good attorney will offer a range of other suggestions. The attorney can also provide the debtor with a list of approved credit counseling agencies, or the debtor can check the website for the United States Trustee Program office at http://www.usdoj.gov/ust/eo/bapcpa/ccde/cc_approved.htm

After the bankruptcy case is filed, the debtor must complete an approved course in personal finances. This course will take approximately two hours to complete. The debtor's attorney if the debtor has one can give the debtor a list of organizations that provide approved courses, or the debtor can check the website for the United States Trustee Program office at http://www.usdoj.gov/ust/eo/bapcpa/ccde/de_approved.htm

It is suggested that a debtor consult a local bankruptcy attorney for further explanations of the debtor's rights and responsibilities.

The sites below are good resources for finding local bankruptcy attorneys:

http://www.nacba.org/

http://www.naca.net/

http://www.justia.com/

http://www.lawyers.com/

If the debtor cannot afford an attorney, there are bankruptcy petition preparers that assist debtors in preparing bankruptcy forms. Bankruptcy petition preparers prepare bankruptcy forms but they cannot give legal advice because they are not attorneys. Click on the links below for some of the bankruptcy petition preparers. You can do some searches on Google or Yahoo for additional petition preparers.


http://bridgeportbankruptcy.com/bridgeport/index.asp

http://usabankruptcyassociates.com/usabk/moreinfo.asp#wedo

Customer: replied 1 year ago.
Is it best to get an attorney ASAP. Can you recommend anyone in the gwinnett area.
Expert:  Phillips Esq. replied 1 year ago.

Is it best to get an attorney ASAP.


Response 1: Yes, it is best to get an Attorney now to start reviewing your case.


Can you recommend anyone in the gwinnett area.


Response 2: Unfortunately, the site does not allow me to make personal referrals. In any event, I do not know any bankruptcy Attorney in Georgia. However, you can find excellent Attorneys using the sites that I previously provided:



http://www.naca.net



http://www.nacba.org



http://www.lawyers.com



http://www.justia.com

Customer: replied 1 year ago.
philliPs you are a superstar!!!!!!! I'm grateful for the advice you have given me. If I have any more questions I hope your the one that helps me?!!
Expert:  Phillips Esq. replied 1 year ago.

Thank you very much for the generous comment.

Yes, I am here for further assistance. Just make sure to start your post with "For Phillipsesq." This would ensure that the post is directed to me.


All the best,

Customer: replied 1 year ago.
is there a difference between a foreclosure lawyer and a bankruptcy lawyer?
Expert:  Phillips Esq. replied 1 year ago.

is there a difference between a foreclosure lawyer and a bankruptcy lawyer?

Response: Frankly, there is technically no such thing as "foreclosure lawyer." However, there are law firms that handle foreclosure sales/auctions for the lenders. These are the lawyers that I think of as "foreclosure lawyers." Bankruptcy Lawyers on the other hand handle bankruptcy cases along with general consumer debt collection defense cases, which include foreclosure defense. Specifically, you are looking for a bankruptcy Lawyer in this case.

I am signing off at this time. If you have further questions, I will get to them when I get back online later today.

Have a wonderful day!

Phillips Esq., Attorney-at-Law
Category: Real Estate Law
Satisfied Customers: 12955
Experience: B.A.; M.B.A.; J.D.
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