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Foreclosure Ramifications & Bankruptcy

The Minnesota foreclosure defense attorneys at Neff Law Firm, P.A., understand that a foreclosure is a serious legal event that carries with it the potential for not only the loss of a home but additional future ramifications as well to the homeowner. Some of the ramifications of foreclosure that are often ignored by homeowners are as follows:

  • Homeowners who simply let the foreclosure go through run the risk of a deficiency judgment. When faced with foreclosure homeowners often get advice from well-meaning friends or relatives to just accept foreclosure and stay in the house as long as they can. This advice may end up making the situation far worse for a consumer. One of the serious ramifications is the risk of a deficiency judgment in the event that the home is sold for less than the debt is owed on.
  • Assuming that a short sale is automatically the best for everyone facing foreclosure. While some people have argued that a short sale of the home is the right cure for the risk of foreclosure this may not be necessarily always the case. People that are interested in pursuing a short sale should make sure they know all their legal rights and the risks faced upon doing a short sale. Anyone considering using a short sale should make sure at minimum that they have the help of experienced professionals such as a foreclosure prevention attorney who have properly assess their legal situation and make a determination based on the facts as to doing a short sale. Each situation should be assessed as to whether it is advantageous for the homeowners to pursue a short sale under the circumstances. For this reason consumers considering doing a short sale should get legal help from an experienced Minnesota lawyer before making any decision on how to handle short sale and foreclosure in general. There should also be proper legal guidance through each step taken by the consumer in dealing with giving up homeownership. Consumers should make sure to get an evaluation of the tax ramifications when dealing with this type of situation. This means that the help of a tax lawyer or certified public accountant may be very beneficial. There is no easy answer to dealing with giving up the ownership of the house, so consumers should be diligent and thorough in addressing this type of matter.

An important consideration for any homeowner dealing with foreclosure is how long it may take to be able to obtain another mortgage on a home. Homeowners should keep in mind that various agencies might have different standards for granting mortgages to people who have lost their home through foreclosure. Consumers should gather together all necessary information to assess how and when in the future they may be able to obtain a mortgage after the foreclosure or a short sale. Again the assistance of a Minnesota lawyer can be of help to a consumer in evaluating the situation. Giving up a home either in a foreclosure or short sale may present problems for consumers in the future in obtaining financing to buy a home so there should be a serious assessment of the situation by the consumer when facing doing either of these acts.

Minnesota Legal Services

Neff Law Firm, P.A. has provided legal services for clients in Minnesota for over twenty three years. These Minnesota lawyers have a tradition of helping people with legal problems ranging from routine types of cases to complex litigation. Neff Law Firm, P.A., has lawyers that can help a person with not only a defense on foreclosure of a home, but other cases as well including very difficult legal matters. The attorneys at Neff Law Firm, P.A., have handled complicated cases in a wide range of areas including wrongful death, discrimination, sexual harassment, unlawful discharge of employment, Qui Tam, business and fraud. Complex litigation is not the law firm's only area of practice, it also provides general legal services in a broad array of practice areas. The firm's attorneys have experience and take pride in helping clients with general practice types of cases as well. The lawyers at Neff Law Firm, P.A., can help people with legal problems at various levels of complexity from routine general practice types of cases to extremely complex litigation. The firm can provide full legal service in cases where it has agreed upon such representation such as in the areas of foreclosure defense, criminal, civil litigation, employment law, Chapter 7 bankruptcy, Chapter 13 bankruptcy and family law.

Legal Assistance with Multiple Case Types

Sometimes a debtor experiencing foreclosure is also is burdened with other legal difficulties as well. Neff Law Firm, P.A., attorneys understand the difficulty that a debtor may have in dealing with multiple legal problems. Whether a client faces one or more different legal problems these attorneys may be able to provide valuable legal help with the legal challenges facing the client.

Legal Help throughout Minnesota

Neff Law Firm, P.A., has experienced attorneys who can provide legal help throughout Minnesota including people living in Minneapolis, St. Paul, Edina, Roseville, Bloomington, Golden Valley, St. Louis Park, Egan, Eden Prairie, Hopkins, Minnetonka, Wayzata, Mound, Chaska, New Brighton, Excelsior, Shakopee, Richfield, Orono, Brooklyn Park, Brooklyn Center, Anoka, Columbia Heights, Plymouth and Maple Grove.

Minnesota Stop Foreclosure Attorney

Need a Minnesota Attorney?

Homeowners facing the threat of foreclosure can arrange for a confidential meeting with a Minnesota stop foreclosure attorney at the Edina or Roseville office of Neff Law Firm, P.A., by calling the central scheduling telephone number of (952) 831-6555.

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