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Lake County foreclosure defense attorneyIf you have fallen behind on your mortgage payments to the point where you are in default on your loan, you may be facing the possibility of a foreclosure. You probably know that if your lender forecloses on your home loan, the house will be sold and the proceeds of the sale will go to the lender. Meanwhile, you will be left with no place to live and a serious mark on your credit history.

The reality is that many people who are facing foreclosure also have a large amount of other debt as well. Such debts often include credit card balances, medical bills, personal loans, and student loans. In cases like these, it is not uncommon for a person to begin thinking about filing for bankruptcy under Chapter 7 of the United States Bankruptcy Code. Filing for Chapter 7 bankruptcy could help you avoid foreclosure in certain situations, and experienced foreclosure defense attorney can assist you in exploring your available options.

An Automatic Stay

When you file for any type of bankruptcy, the bankruptcy court will immediately put a stay on all debt collections activities being pursued against you. This includes foreclosure proceedings, even if they have already been initiated by your lender. If your lender continues the proceedings once the stay has been enacted, the lender is in violation of federal law. Sanctions are possible in such cases. The stay is not permanent, however, and your lender can request that the bankruptcy court lift the stay and allow the foreclosure proceedings to continue.

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