Chapter 13 Attorney in Montgomery County
Unknown to many debtors who are going through the Chapter 13 bankruptcy process is the fact that many mortgage servicers are unable to prove ownership of the mortgages they are trying to enforce. This inability to prove ownership of the mortgage and note can provide your bankruptcy lawyer with room to negotiate better terms for you.
At the Law Office of Stephen Ross, we have experience representing individuals throughout the bankruptcy and mortgage debt negotiation processes. For more information about how we can put this experience to work for you, reach out to Stephen Ross, our Chapter 13 lawyer in Montgomery County. We serve clients throughout the Tri-County area.
Often, mortgage servicers will file a proof of claim during Chapter 13 that will enable them to seek specific fees from you, the debtor. As your dedicated advocate throughout the process, we can not only seek to challenge the ownership of the mortgage and note, but also challenge the servicer fees.
Mortgage Ownership and the Government
There are several different forms that many current owners of your mortgage may take. Some are trusts (with a lot of language and numbers that look like Greek), some are the government (in the form of Fannie Mae or Freddie Mac), and others are simply companies that may have purchased your note. In almost all of these cases, the current owner of your mortgage is not the same company that originated your mortgage. Instead, most of these mortgages were transferred numerous times since you originally purchased your mortgage.
What we've learned during our time handling bankruptcy cases is that many mistakes were made during these transfers. Such mistakes have proven costly to the mortgage servicers, as they are now unable to prove ownership due to improper transfer. We will thoroughly research whether any mistakes such as these occurred in your situation. It's part of the systematic process we use to make you money in the bankruptcy proceeding. If they did, we can use this information as leverage to pursue a loan modification, obtain a compromise on the amount you actually owe on your principal, reduce your interest rate, or perhaps even strip the mortgage debt from the title of your home.
If the mortgage servicer refuses to work with us, we can file an official objection or adversarial proceeding complaint in court. Either way, you can rest assured that we will not allow your servicer to take advantage of you.
Contact Our Homeowner Creditor Protection Lawyer in Pottstown Today
Learn more about how we may be able to challenge your mortgage note during the Chapter 13 process. Contact our Pennsylvania debt relief law firm today to schedule your free initial consultation.
