A personal injury law firm Wilmington de is there for you at your worst. At Stirparo Law, our goal is to help you get financial compensation for your medical treatment and make up for the wages lost due to your injuries.
Yes, if a Sheriff sale of your home is scheduled, and you do not take the necessary steps to prevent it from occurring, you could lose your home. However, before a Sheriff sale can be scheduled in Delaware, it takes at least four to five months for the mortgage foreclosure process to be completed since a mortgage company must first file a mortgage foreclosure lawsuit against the owners of the real estate, serve the homeowners with a copy of the lawsuit, proceed with mandatory foreclosure mediation, which is required in Delaware in most situations, and obtain judgment against the homeowner so that a Sheriff sale of the property can be scheduled. Therefore, as a Delaware bankruptcy attorney, I can tell you that despite threatening statements by mortgage company representatives that you are going to lose your home the next day unless you immediately bring your mortgage payments current, such threats are false and meant to intimidate the homeowner into making payments. As stated above, Delaware requires mandatory mortgage foreclosure mediation, which means that if the homeowner resides in the property, the homeowners can elect mediation and try to attempt to work out a resolution with the mortgage company that allows the homeowner to keep the property and remain in their home. This generally occurs in the form of a loan modification agreement that brings the mortgage current by adding the mortgage arrears to the principal of the loan and extending the loan term by a certain number of years. Since it takes several months for the mortgage mediation hearing to be scheduled, that gives the homeowner time to provide the mortgage company with the number of financial documents required by the mortgage company in the loan modification process to determine whether the homeowners qualify for a loan modification of their mortgage.
Although for many people the word “bankruptcy” carries with it a negative stigma, the fact is that bankruptcy saves many individuals and families from financial ruin and restores financial peace and hope to those who have given up. As a bankruptcy lawyer in Delaware for more than two decades, I can tell you from experience that bankruptcy changes lives for the better and can often save you from overwhelming, and oftentimes crushing, debt. Such debt causes an enormous amount of stress, anxiety and worry that interferes with your ability to function at your job and at home. It can also cause you to lose your job and assets such as your house and car and, in some cases, may even cost you your marriage and family. Bankruptcy helps alleviate the stress by discharging such debt. It gives you a fresh start and prevents your creditors from continuing to harass you with non-stop telephone calls day and night trying to pressure you into paying debt you can’t afford with money you don’t have.
