Foreclosures in Missouri

You put so much time, money, and effort into your home. You and your spouse raised a family there. Plus, you took pride in maintaining the property so it looked perfect. You made improvements along the way, and you remember the times you measured your kids’ heights along the wall because the marks are still there. 

You want to keep your beautiful home for as long as you can.

Then unforeseen circumstances hit. The economy tanked. Your medical bills piled up, and you couldn’t go to work. To make ends meet, you skipped a few months’ of mortgage payments. You received a notice in the mail that your lender plans to foreclose on the house. 

It wasn’t your fault. You made payments the best you could. Fortunately, there is help.

Do You Need an Attorney to Help with the Foreclosure?

Yes, because filing for bankruptcy can actually help you save your house, or at least it will give you more time to find a new place to live.

Get an Attorney on Your Side

At Checkett, Pauly, Bay & Morgan, LLC, we know you’re going through a tough time. We’ll advise you as to the best course of action when facing a foreclosure. 

Did you receive a foreclosure notice in the mail? Discover the steps we take to help you through this extremely stressful process.

1. Talk to Checkett, Pauly, Bay & Morgan, LLC. The first consultation is free. 

2. What’s the foreclosure date? If it’s in a few days, we can file a basic petition and credit counseling certificate in court. Doing so creates what’s called an automatic stay, meaning your mortgage lender can’t foreclose on the house until after the bankruptcy is finalized. A basic petition delays a lender from taking your home, and in some circumstances it may prevent foreclosure altogether.

3. We’ll discuss the documents you need to file for bankruptcy protection. You might file for Chapter 7 bankruptcy protection or Chapter 13. The first one eliminates many types of debts, including those for a home, while the second one reorganizes your debt. Either choice might let you keep your home, but it depends on your exact situation. That’s why talking to an attorney can help you with a foreclosure.

4. If the foreclosure date is more than 10 days out, we’ll give you a packet to complete. Please bring this packet back as soon as possible. We’ll input your confidential information into our secure system, then you’ll sign the documents.

5. After you sign, we file the bankruptcy petition electronically through the court system within 24 hours. 

6. We hear back from the bankruptcy court with a case number. We then forward that case number to your mortgage lender notifying them of the bankruptcy so they stop the foreclosure proceedings.

Can You Keep Your House When Filing for Bankruptcy?

It depends. 

If you’re current on your mortgage and you don’t have a lot of equity in your home, you might be able to keep it. Missouri’s bankruptcy exemptions allow for $15,000 in equity in a principal place of residence and $5,000 for a mobile home. A bankruptcy attorney can advise you as to this scenario, but we’ll need to examine your finances first. Everyone’s situation is unique and different. 

The first step is filing for bankruptcy, because it immediately stops a foreclosure action until the bankruptcy case is resolved. Bankruptcies can take anywhere from two to six months to resolve, depending on how complex the process is. 

Foreclosure Attorneys in Joplin, MO

The experienced attorneys at Checkett, Pauly, Bay & Morgan, LLC, will treat you with respect, fairness, and honesty through the stressful time of facing a possible foreclosure in Joplin. The first consultation is free. Reach out to us if you live in Joplin or Carthage, or call 417-358-4049 and we’ll help determine your next steps.