Hire Home Foreclosure Prevention Attorneys In Bellingham

Are you facing foreclosure and are worried about losing your Bellingham home? Our legal team is here to help.

We understand how easily financial issues can spiral out of control. Costs here and there start to add up, and before you know it, you're behind on your mortgage payments. Once that happens, the bank may seek to foreclose on your home.

If you are facing foreclosure in Bellingham, our skilled attorneys are here to advise you on how to protect your rights. We can stop home foreclosure, help you explore your legal options, and find a way out from under your debt. With our legal expertise, you'll be able to protect your financial future, so contact us now for a free consultation. Act fast because the sooner you contact a lawyer, the higher the chance to keep your Bellingham home.

What Happens During Home Foreclosure?

When you fall behind on the mortgage for your Bellingham home, your lender may pursue home foreclosure. This is the process where your lender seizes and then sells your home to recover the remaining balance due on your mortgage loan. There are several reasons Bellingham residents experience foreclosure:

• Financial hardships like job loss, illness, or unexpected expenses
• Rising interest rates on adjustable-rate mortgages leading to unaffordable payments
• Falling behind on property taxes or homeowner's association fees

Washington law highly regulates home foreclosure, allowing two types:

• Judicial Foreclosure: Judicial foreclosure is a Whatcom County Court-supervised process that occurs when a lender files a lawsuit to recover a property after a borrower defaults on their mortgage. While it is less common in Washington, the lender will pursue this path if the loan agreement does not include a "power of sale" clause.
  
  In a judicial foreclosure, this is how the process goes: a lender files a complaint in Court. Once that’s done, you will be served with a summons, which you have to respond to. You also have the right to present defenses in Court.
  
  If the Whatcom County judge rules in favor of the lender, they will issue a judgment. Then, the property is sold at the Whatcom County sheriff's auction to satisfy the debt.
• Non-Judicial Foreclosure: The most common type of foreclosure in Washington is non-judicial, as most mortgages include a "power of sale" clause. The clause allows your lender to foreclose on your home without going through the court system, saving time and expenses.
  
  The non-judicial foreclosure process begins with a Notice of Default, giving you a chance to resolve the debt. If you do not reach a resolution, the lender issues a Notice of Trustee's Sale and schedules the property for auction. The trustee, acting in lieu of the lender, oversees the sale. While non-judicial foreclosure is quicker than judicial foreclosure, it still offers you protections, including the right to reinstate the loan or contest the foreclosure in limited circumstances.

Whether you face judicial or non-judicial foreclosure, here is how the process typically works:

1. Receive A Notice Of Default: After you miss 90 days of payments, your lender will send you a written Notice of Default, a document informing you of the missed payments. This gives you 30 days to catch up or negotiate with the lender.
2. Receive A Notice Of Trustee's Sale: If you cannot resolve the default, the lender issues a Notice of Trustee's Sale at least 120 days before the sale date. This document details the foreclosure auction's date, time, and location.
3. Explore Alternatives To Foreclosure: During the pre-foreclosure period, you can negotiate with the lender, explore loan modifications, or pay the debt to stop the foreclosure process.
4. The Foreclosure Sale: If the issue remains unresolved, the lender will sell your home at Whatcom County Sherriff's public auction. The highest bidder becomes the new owner, often at a significantly reduced price.
5. The Eviction Process Begins: If the auction results in a sale, the new owner can initiate eviction proceedings if you remain in the home.

If you are facing foreclosure, act fast. The sooner you speak to a qualified Bellingham lawyer, the more options you have to protect yourself.

What Are My Legal Options If I Am Facing Foreclosure In Whatcom County?

The possibility of losing your Bellingham home can be frightening. However, you are not alone. We are here to help you explore all your legal options when you face foreclosure. Here are some of the strategies we may explore:

1. Loan Modification: We can renegotiate the terms of your mortgage with the lender to lower mortgage payments, reduce your mortgage interest rate, or extend the mortgage loan term, making it more affordable.
2. Forbearance Agreement: We can request a temporary pause or reduction in mortgage payments from Whatcom County Courts to give you time to recover from financial difficulties.
3. Reinstatement: We can help you strategize a way to pay the overdue balance, including late fees and penalties, in one lump sum and stop the foreclosure process by bringing your payment current.
4. Repayment Plan: We can negotiate a structured plan with your mortgage lender to catch up on missed payments over time while continuing regular monthly payments.
5. Short Sale: If keeping your home isn't feasible, we will explore selling the property for less than the remaining mortgage balance, which can help avoid the negative consequences of foreclosure.
6. Bankruptcy Protection: We can help you determine if bankruptcy is right for your situation, as this triggers an automatic stay, which stops the foreclosure process immediately.
7. Litigation: If the lender has violated foreclosure laws or engaged in predatory lending practices, we may take legal action that could potentially result in compensation.

With over 30 years of experience helping Bellingham and Washington state residents keep their homes, we have the expertise to find the right option for you. Learn more about your legal options by calling our law office. We'll schedule a free consultation with a skilled foreclosure attorney in Whatcom County, who will review your case and answer any questions.

Does Filing For Bankruptcy Prevent Foreclosure In Whatcom County?

Yes, filing for bankruptcy can prevent foreclosure in Whatcom County. The Washington bankruptcy courts issues an automatic stay if you do so, which temporarily halts all debt collection activities, including foreclosure. The two most common types of bankruptcy filed by those facing foreclosure are:

• Chapter 7 Bankruptcy: Also called "liquidation bankruptcy," you sell your Washington non-exempt assets to pay off creditors. While it can stop foreclosure temporarily, it may not allow you to keep your home if you cannot catch up on missed payments or if your property is not exempt under Washington law.
• Chapter 13 Bankruptcy: Also called the "reorganization bankruptcy," is where you keep your home by creating a repayment plan for your debts. You can then catch up on your missed mortgage payments over the next three to five years while continuing to make your regular payments.

Whether you stop foreclosure by filing Chapter 7 or Chapter 13 depends on your particular financial situation. In Washington, the means test determines eligibility for Chapter 7 bankruptcy. The means test measures your income against the median income in Washington. If your income is too high, you will not qualify to file Chapter 7 in Washington. However, you could still file for Chapter 13. Talk to your attorney to learn what option is best to secure your financial future.

What To Bring To Your Meeting With Our Bellingham Foreclosure Attorneys

When you are facing foreclosure, you need top legal expertise. As the leading foreclosure attorneys in Whatcom County, we've got your back, no matter your financial circumstances. Here's what to bring to your first meeting with us:

• Notice Of Default: Any official documents you've received about the foreclosure action
• Mortgage Statement: Your most recent mortgage statement showing your mortgage balance, interest rate, and payment history
• Loan Modification Documents (if applicable): All related paperwork if you've applied for a loan modification or forbearance
• Proof Of Income: To assess your ability to make a repayment plan
• Tax Returns: To give us a clearer picture of your financial situation
• Bank Statements: Recent statements from all your bank accounts to help us understand your financial position
• Any Court Documents: All related court paperwork if you've already been to Court regarding the foreclosure
• Communication with Your Lender: Any letters or emails from your mortgage lender, including any collection notices or correspondence about foreclosure

Don't wait until it is too late. Schedule your free consultation with our Bellingham attorneys today.

Our Bellingham Attorneys Protect Our Neighbors From Losing Their Homes

Bellingham is the perfect place to buy a home. With a lower cost of living compared to larger Washington cities like Seattle and Tacoma; a stable job market in key industries like healthcare, education, and energy; and top-rated schools such as Wade King Elementary, Sehome High School, and Western Washington University, it's the ideal location to plant roots. Not to mention, the scenic beauty of Mount Baker and Bellingham Bay makes owning a home here truly special.

With a place that has so much to offer, the thought of losing your Bellingham home to foreclosure is devastating. We believe none of our neighbors should face this process alone. Count on us to help you protect your property and fight back against foreclosure. With our guidance, you can defend your rights and safeguard your financial future. Call us today for a free consultation.

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