{"id":2923,"date":"2016-12-12T11:42:32","date_gmt":"2016-12-12T19:42:32","guid":{"rendered":"https:\/\/pdxlegal.com\/?p=2923"},"modified":"2019-06-24T16:08:16","modified_gmt":"2019-06-24T23:08:16","slug":"portland-bankruptcy-attorneys-help-cure-mortgage-default","status":"publish","type":"post","link":"https:\/\/pdxlegal.com\/portland-bankruptcy-attorneys-help-cure-mortgage-default\/","title":{"rendered":"Portland Bankruptcy Attorneys Help Cure Mortgage Default"},"content":{"rendered":"<figure id=\"attachment_2816\" aria-describedby=\"caption-attachment-2816\" style=\"width: 388px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-2816\" src=\"https:\/\/pdxlegal.com\/wp-content\/uploads\/2015\/01\/Bankruptcy-Attorneys-Portland-1.jpg\" alt=\"Portland Bankruptcy Attorneys\" width=\"388\" height=\"218\" srcset=\"https:\/\/pdxlegal.com\/wp-content\/uploads\/2015\/01\/Bankruptcy-Attorneys-Portland-1.jpg 800w, https:\/\/pdxlegal.com\/wp-content\/uploads\/2015\/01\/Bankruptcy-Attorneys-Portland-1-300x169.jpg 300w, https:\/\/pdxlegal.com\/wp-content\/uploads\/2015\/01\/Bankruptcy-Attorneys-Portland-1-768x432.jpg 768w\" sizes=\"(max-width: 388px) 100vw, 388px\" \/><figcaption id=\"caption-attachment-2816\" class=\"wp-caption-text\">Bankruptcy Attorneys in Portland, Oregon<\/figcaption><\/figure>\n<p>Sometimes people find themselves falling behind on their mortgage payments and face the dreaded \u201cF\u201d word = foreclosure.\u00a0 People may fall behind because of a medical issue or a temporary job loss.\u00a0 Often times these same people have restored their income such that they can make the ongoing mortgage payments but cannot write a check to pay back all the missed payments.\u00a0 Those missed payments, called a mortgage default, can result in the lender starting a foreclosure to take away the home.<\/p>\n<p>If you cannot write a check to pay the mortgage default, you could seek the assistance of a <a href=\"https:\/\/pdxlegal.com\/chapter-13\/\">Portland Bankruptcy Lawyer to explore Chapter 13<\/a> bankruptcy.\u00a0 With a Chapter 13 bankruptcy you can STOP a foreclosure to protect your home and force the lender to accept a payment plan for the missed payments.\u00a0 That payment plan could last up to 5 years.<\/p>\n<p>For example, one recent client of ours had a mortgage payment of $2,000 a month and was one year behind on payments, totaling $24,000.\u00a0 The client wanted to resume her mortgage payments of $2,000 a month so she doesn\u2019t fall further behind but the lender refused, instead they wanted a check for $24,000 or else they wanted the house.\u00a0 (I hate to be cynical but with property values increasing in the Portland Metro Area, is it any surprise that the lender wanted the house?)\u00a0 This client filed Chapter 13 and took control over the situation.\u00a0 The lender has now resumed accepting the monthly payments and the client is going to pay about $400 per month additional over the next five years to bring the loan current.\u00a0 Yes it took a Chapter 13 bankruptcy to solve this problem, but that is better than losing the home.<\/p>\n<p>If you find yourself in this type of situation or know someone facing financial difficulty, call the Portland Bankruptcy Attorneys at <a href=\"https:\/\/pdxlegal.com\/testimonials\/\">Michael D. O\u2019Brien<\/a> &amp; Associates to learn your options and discuss solutions for the problem.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sometimes people find themselves falling behind on their mortgage payments and face the dreaded \u201cF\u201d word = foreclosure.\u00a0 People may fall behind because of a medical issue or a temporary job loss.\u00a0 Often times these same people have restored their income such that they can make the ongoing mortgage payments but cannot write a check [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/pdxlegal.com\/wp-json\/wp\/v2\/posts\/2923"}],"collection":[{"href":"https:\/\/pdxlegal.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pdxlegal.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pdxlegal.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pdxlegal.com\/wp-json\/wp\/v2\/comments?post=2923"}],"version-history":[{"count":0,"href":"https:\/\/pdxlegal.com\/wp-json\/wp\/v2\/posts\/2923\/revisions"}],"wp:attachment":[{"href":"https:\/\/pdxlegal.com\/wp-json\/wp\/v2\/media?parent=2923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pdxlegal.com\/wp-json\/wp\/v2\/categories?post=2923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pdxlegal.com\/wp-json\/wp\/v2\/tags?post=2923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}