Pelley Law Office LLP
Dallas Office
Plano Office
Sherman Office
214-733-1775
972-608-0335
903-813-4778

No Charge For Initial Consultation ($250 value)

Menu Contact

Over 80 Years Of Combined Experience

View Our Practice Areas

What do I do about my home in another state or a failed modification?

The housing market across the United States has taken a turn for the worse in the last several years.  Foreclosure rates continue to rise, and people are left with deficiencies left owing on the note after the foreclosure sale.  After the sale of the property, the creditor or mortgagee bank typically pursues the former home owner on the remainder of the amount owed.

The former home owner is served with a lawsuit, and if a judgment is taken against them, then interest will continue to accrue on the judgment and the amount that is owed will continue to grow.  Many of the states across America are even having a more difficult time with the depreciation of their real estate than Texas.  Many people move to Texas and are unable to sell their old home in their former state and are forced to file a Chapter 7 bankruptcy in Texas to discharge the entire amount of the old mortgage loan.

Another trend across America is a failed loan modification attempt.  Banks often indicate to people that they believe they are eligible for a modification.  After months of sending in documents to the bank to get approved, many people are ultimately turned down for the modification under the Obama Plan and have no other means of saving their house than filing a Chapter 13 bankruptcy.

No Comments

Leave a comment
Comment Information

Awards & Recognition

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Office Locations

Plano office
Sherman office
Dallas office

Plano Office
1312 14th Street, Suite 100
Plano, Texas 75074

Phone: 972-608-0335
Map & Directions

Sherman Office
905 North Travis Street
Sherman, Texas 75090

Phone: 903-813-4778
Map & Directions

Dallas Office
6060 North Central Expressway, Suite 602
Dallas, Texas 75206

Phone: 214-733-1775
Map & Directions