11th Oct 2017


Home ownership, or a place to call our own is a basic human instinct and something all Houstonians desire. When we do finally achieve this life goal, one of our worst fears can be the possibility of losing our home through missed payments. National statistics reveal that the homes of more than 80,000 families will face foreclosure in a single month.


If you do find yourself in this uncomfortable situation  and you are facing foreclosure on your Houston home, you should seek advice as soon as possible. Get solid professional advice in the form of a free consultation and don’t listen to popular foreclosure myths and misconceptions like these below.


  1.  A late payment means you will lose the house


When facing foreclosure you must act quickly. One single missed payment is a problem, but not a big enough problem that you will lose your home. Stay calm, take financial advice and find an effective solution.


  1.  Payments should be stopped if you fear foreclosure


The fact you are acknowledging the problem and seeking a solution does not give you any excuse for not making further payments. Do not change your old payment habits because you fear foreclosure.  Your financial responsibilities continue as before unless you decide to declare bankruptcy.  


  1.  Loan restructuring is the best solution


If you are missing payments you may be considering restructuring loans such as  mortgage modifications. While this may offer a short term solution, in the long term this is a bad plan. These types of modifications typically include extended amortizations which can last for an additional 40 years.


Don’t commit to lifelong debt when there may be better options available to you.


I offer a free, no obligation consultation to review your situation and answer your individual questions about this or any aspect of bankruptcy law.  Please contact me at 281-847-4345 or rkemsley@kemsleylaw.com so we can discuss your individual situation and see if Chapter 13 would work for you and how we can help you set up a plan to pay the required fees.  The consultation is free.  Take the first step by calling me today.  I look forward to hearing from you soon.

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