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Thursday, January 3, 2013

Should You Sell Your House or Find Options with Bankruptcy Law Fort Lauderdale?



You were able to buy your home for the period of real state rush some years ago and now it has turned your world upside down due to adjustable rates of interest. The next thing is that you need to have a lot of knowledge about Bankruptcy Law Fort Lauderdale. It is such a nightmare knowing that the interest rates soar high while the house value goes downhill. Additionally, your credit card debts are mounting because credit card companies have their intentions to raise rates to 25 to 29 percent level. What people left to do?
Unluckily, there are little things people can do to stop the tide of the present day’s economic climate. The banks will be doing what they need to and the credit card companies will do their shares of burdens too.  The worst part is you are not certain if you still have a job by tomorrow and how will you sustain your lifestyle in the coming days.
In terms of your home, there are some available options to choose from. If you are no longer capable of paying all the fees concerning your home, you can try to have modifications on your loan to gain a more affordable payment under that legislation of HAMP. It is a fact that banks in this area are slowly moving and even if they are not decreasing their interest rates, they are not forgetting principle and closing the space between your house’s value and what you wed from them.
In the case of bankruptcy, you can select to give up your home and all your personal liabilities for the loan amount if forgiven. That will cover any possible deficiency between what you owed and what the bank ends up selling your house. There is no bargaining with the bank, no waiting moments for approvals. In addition, Filing for bankruptcy will eradicate all your other unsecured debts so you can definitely get hold of a fresh beginning.
Winston I. Cuenant, Esq., has been a bankruptcy and foreclosure attorney in Fort Lauderdale Mr. Cuenant areas of expertise include foreclosure defense, consumer chapter 7 and chapter 13 bankruptcy, Bankruptcy law Fort Lauderdale, corporate chapter 7 bankruptcy, contract formation, real estate litigation and complex commercial transactions.
Please Contact Our Office +19547664271 for FREE Consultation or visit us on http://cuenantlaw.com/

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