Charlotte Foreclosure Alternatives

Over the past two years, Charlotte foreclosures have increased dramatically. There is no single cause for this problem. A combination of sloppy lending practices, individual and corporate greed and overly optimistic buyers and lenders has resulted in the collapse of the real estate market which in turn has caused the economy to fall to financial depths that have not been experienced since the Great Depression.

Residential Foreclosure Alternatives:

In today’s turbulent economy, many different factors and circumstances can bring you to the brink of foreclosure including the following:

You have an adjustable rate loan that has or is about to “adjust” to an amount that leaves you no realistic way to continue making the monthly mortgage payment.

You cannot refinance from an adjustable rate loan into a fixed rate loan because the mortgage on your property is more than the value of your home.

You are a homeowner who through no fault of your own has experienced a job loss or reduced schedule at work which has left you with only a fraction of the income you need to continue making your monthly mortgage payments.

You have a job, but have been transferred and/or forced to relocate and you are unable to sell your home because you owe substantially more on your mortgage than your home is currently worth and are faced with the unrealistic task of making two mortgage payments.

You purchased multiple properties during the market upswing, but now are overextended and cannot continue to meet the demands that come with owning multiple properties.

You or your spouse suffered a serious illness and one or both of you are unable to work and the loss of income has left you unable to make your monthly mortgage payment.

If you are facing foreclosure, we can help. Whether your goal is to stay in your home or you just need more time to sell your home or negotiate a short sale, we are committed to helping you avoid losing your home to foreclosure and can provide our valuable expertise in working with lenders on your behalf to create an outcome that suits your needs.

Alternatives to foreclosure include mortgage modification, forbearance, reinstatement, repayment plans, short sale, deed in lieu of foreclosure and bankruptcy. This list is not exhaustive. Everyone has a unique set of circumstances that has caused them to fall on hard times. We take great pride in our ability to find creative ways to assist you in attaining your goals. Please contact us for a free consultation.

Commercial Foreclosure Alternatives:

If you are a commercial property owner and facing foreclosure we can help. We have extensive experience in dealing with commercial properties encumbered by securitized mortgages and can assist you in negotiating a “workout” or a loan modification with your lender. If you have experienced cash flow issues and have stopped or reduced payments to your lender you are not alone. In this turbulent economic environment, lenders are looking to save as many commercial loans as possible due to the large number of defaults in their portfolios and are in most cases willing to negotiate a wide variety of options in order to avoid foreclosure. If you find yourself in this situation please contact us sooner rather than later and let us explore with you various options and scenarios that can allow you to weather this recession.

Contact Charlotte Foreclosure Attorney today!

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Charlotte Foreclosure Alternatives

Residential Foreclosure Alternatives:

Commercial Foreclosure Alternatives: