Mortgage Relief

Washington DC Foreclosure Attorney

Rockville Mortgage Relief Lawyer

Mortgage Advice and Representation

Owning property is a big part of the American dream. It can be a source of security and a beneficial investment for many people. But taking out a mortgage to help pay for that property can also be a risky proposition, and in the current climate, many people are concerned about the possibility of foreclosure.

Don’t let your mortgage issues get out of hand. Contact us at Gilman & Edwards, LLC, to learn what you can do to avoid foreclosure and obtain relief. Our Washington DC foreclosure attorneys serve clients throughout Maryland and the D. C. area.

Helping You Avoid Foreclosure

If you are having trouble making payments on your mortgage or anticipate problems in the future, we may be able to help you avoid foreclosure by looking at your other options, which can include:

  • Refinancing and workouts: If you are unable to keep up with payments under your current mortgage agreement, your lender may be willing to renegotiate the terms of the agreement, or you may be able to refinance with another lender.

  • Short sale: If you are interested in selling your home due to relocation, a divorce or simply because you can no longer afford the payments, or consider your home to be a good investment, but the current market price of the property is inadequate to cover your mortgage obligations, your lender may be willing to negotiate a short sale, accepting the proceeds from sale of the home as payment in full.

  • Chapter 13 bankruptcy: Some people can avoid foreclosure and keep their homes through the Chapter 13 bankruptcy process, discharging their debts through a court-administered payment plan.

  • Deed in lieu of foreclosure: You may be able to convey your property back to the lender through a deed instrument. This can benefit you by terminating some or all of your obligation to pay taxes on the property, resolving the matter with less publicity than a foreclosure and protecting your credit in the process.

An experienced lawyer who has insights into the practices and concerns of mortgage lenders can help craft the right strategy for you. If mortgage debt is becoming a serious issue for you, don’t hesitate to contact us to discuss whether we can help you overcome your problems.

Advising on Mortgage Agreements

Recent events have demonstrated that the housing market can be much more volatile than many people assume. If you are considering taking out a mortgage to buy a home or other property, you may want to get legal advice on the benefits and pitfalls of various loan arrangements.

We are familiar with the range of available mortgage loan structures and can counsel you on your options so you can fully understand your rights and obligations. Contact our Maryland mortgage relief attorneys today!

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