While many people try to avoid foreclosure via a short sale, sometimes this option is simply not available. As an example, in the case of a short sale, where the buyer is too far upside down in his or her payments, the bank may simply not allow the owner to sell their house at a discounted price. As a result, the owner could be forced into bankruptcy proceedings.

In this case, the bank may try to foreclose on your property. Luckily, since Ohio is a judicial foreclosure state, employing a Dayton lawyer or Dayton attorney can afford you a chance to save your home, or at worst, delay your eviction.

We say luckily, because the average judicial foreclosure takes several months to bring to closure. In addition, your lender must petition the court to start the foreclosure proceedings. During these proceedings, a Dayton Lawyer or Dayton attorney can provide assistance.

To initiate the proceedings, your lender must send you a notice of intent to begin foreclosure once you have missed at least one payment. At this point, your best course of action is to contact your lender to discuss alternative forms of payment (i.e. a new repayment schedule).

Once you have received the notice of intent, the lender can file a lawsuit. The next step involves receiving a summons and complaint, which gives you the opportunity to respond.

At this point, you have two choices: either respond or don’t respond. If you respond, your Dayton Lawyer or Dayton Attorney can help you craft a legal defense. If you choose to not respond, it is most likely the judge will allow the lender to sell your home.

After a judge grants permission to the lender to foreclosure on your property, you will receive a notice of intent to sell, which is where you are given notice that your house will be put up for auction.

The Dayton Lawyer and Dayton Attorney Guide hopes this foundational article on the foreclosure process has been helpful. If you are facing a foreclosure, it is important that you promptly contact a licensed Dayton Lawyer or Dayton Attorney.

Bankruptcy, very simply, is an individual’s inability to pay off their legal debts. This could constitute their secured debt (such as mortgage and automobile loans) and unsecured debt (such as credit cards and personal loans). In order for a person to legally relieve themselves of this debt, they will need the services of a Dayton lawyer or Dayton attorney.

As a side note, not many people know that their creditors can force involuntary bankruptcy upon them. You read that right, if you fail to pay your bills, you can be taken into court and forced to pay your bills, either though total liquidation, also known as a Chapter 7 filing, or a repayment plan, which is also known as a Chapter 13 filing. While there are other versions of bankruptcy, these two chapters are by far the most common in Dayton.

As this is a legal proceeding, a Dayton Lawyer or Dayton attorney will have to represent you in court. Due to the complexities of the court system, it would be impossible to complete the process without a Dayton lawyer.

Previous to the rewriting of the bankruptcy laws, a Dayton Lawyer or Dayton Attorney only played a small role in this debt relief process. Now however, a Dayton Lawyer or Dayton Attorney is forced to assume a much greater role. One of the main changes is that the lawyer must now assume responsibility for ensuring his or her clients are telling the truth when filling out the required forms. As such, many clients of attorneys have noticed an increase in the prices of the law services rendered.

In conclusion, the issue of bankruptcy is a very serious one that should be discussed with a legal professional. As such, the Dayton Lawyer and Dayton Attorney Guide recommends you contact a reputable lawyer whenever you have questions about this issue.

This guide can be used as a foundational resource for learning about legal issues in Dayton. If you have any additional questions about Dayton Lawyers and Attorneys, please feel free to contact us.