From Foreclosure Auction to Fresh Start

In the past twenty years, we’ve helped more than 6,000 people in Maine move from financial crisis to financial freedom. During that time, many clients have told us how much they struggled before finally deciding to call. It is our hope that by demystifying the process and the outcome, more people are able to take action sooner.

Below are the details of one recent client’s success story.

What it was like:

• A couple contacted Molleur Law because they were facing a foreclosure auction. Their home was set to be sold in 10 days.

• The couple had been aware of the foreclosure process, but were unable to act because of the paralyzing fear of losing their home.

• A relative had seen the auction listed in the newspaper, and called the couple to tell them they needed to do something quickly.

• The couple contacted us.

What happened:

• Within days, we filed a Chapter 13 bankruptcy case. This stopped the foreclosure and allowed the couple to get some breathing room.

• Even though they were behind on their mortgage, the couple had continued to pay their credit cards because when they stopped, they received multiple calls a day at work and home demanding payment.  They had also been sued by a credit card company who was garnishing the husband’s wages.

• Once the bankruptcy began, the credit card payments stopped, the garnishment stopped, and soon the couple realized that they had enough money to pay both the mortgage and all of their other necessary household expenses.

• During their case, we helped them apply for a loan modification and it was granted about three months later.

• At that point, the couple was able to switch their case to a Chapter 7 case and get a fresh start.

What it’s like now:

• Their mortgage is current, and they are otherwise debt-free.