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Home Foreclosure Attorneys
King County currently has the highest foreclosure rate in Washington State, with homeowners in Renton facing increasing foreclosure risks. Rising home prices and economic challenges have made it harder for neighbors to keep up with mortgage payments, especially in high-cost areas like Kennydale, the Highlands, and Talbot Hill. King County is also the most expensive county in the state. You could be at risk of foreclosure if you've fallen behind on your mortgage, but legal options may be available to help you save your home.
Under RCW 61.24, Washington State's Deed of Trust Act sets strict procedures for foreclosures, including your right to mediation and loss mitigation. Filing for bankruptcy can also stop foreclosure immediately. Chapter 13 bankruptcy is a process to catch up on mortgage missed payments through a structured repayment plan under 11 U.S.C. § 1322, while Chapter 7 may eliminate other debts, making it easier to afford your mortgage. If your lender has violated foreclosure laws or acted in bad faith, you may have legal grounds to challenge the process.
Our Renton-based foreclosure attorneys have 30 years of experience helping homeowners in Benson Hill, Fairwood, and Cascade fight foreclosure and stay in their homes. Call today for a free consultation to discuss your legal options before it's too late.
What Do I Do If I Am Facing Foreclosure On My Renton House?If you've received a Notice of Default or a Notice of Trustee's Sale, time is critical because lenders move fast. Here's what you need to do:
- Review Your Notice: Under RCW 61.24.030, lenders must send you a written notice of your foreclosure at least 30 days before recording a foreclosure and give you 120 days to catch up on payments before auctioning your home.
- Request Mediation: Washington's Foreclosure Fairness Act (RCW 61.24.163) allows you to negotiate alternatives like loan modifications, but you must request mediation within 20 days of receiving a Notice of Trustee's Sale.
- Consider Chapter 13 Bankruptcy: Filing under 11 U.S.C. § 1301 can immediately halt foreclosure and allow you to settle missed payments over 3 to 5 years.
- Apply For A Loan Modification: Many lenders work with homeowners in Renton to adjust loan terms and make payments manageable.
- Sell Or Refinance: If keeping your home isn't possible, a short sale or refinancing with a local lender like Boeing Employees Credit Union (BECU) or Sound Credit Union may help avoid foreclosure.
Yes, but you have to act fast. Here are some things you can do to stop home foreclosure in Renton:
- Bring Your Mortgage Loan Current: Paying the full past-due mortgage amount and fees reinstates your mortgage under RCW 61.24.090.
- Request Foreclosure Mediation: If you qualify under RCW 61.24.163 for foreclosure mediation, you may get more time and a better mortgage loan plan.
- Negotiate with Your Lender: Many lenders prefer payment plans or modifications over foreclosure.
- File For Chapter 13 Bankruptcy: Chapter 13 stops foreclosure immediately under 11 U.S.C. § 362, even if your home is days from auction.
With King County home prices among the most expensive in Washington State, foreclosure is common. If you're at risk of foreclosure, call our Renton law office today for a free consultation with our experienced attorneys, who can help you stop the process and explore your options.
Our Expert Renton Attorneys Answer Your Top Foreclosure FAQsQ: Which is better for stopping foreclosure in Renton: Chapter 7 or Chapter 13?
A: Chapter 7 temporarily stops foreclosure but does not provide a long-term solution unless you can catch up on missed payments quickly. However, Chapter 13 lets you catch up on your mortgage arrears over time through a court-approved repayment plan under 11 U.S.C. § 1322(b)(5), making it the better option for saving your home.
Q: How long does the automatic stay protect my King County home?
A: The automatic stay remains in effect the entire time your bankruptcy case is open. However, if your mortgage lender's attorney files a motion for relief from stay under 11 U.S.C. § 362(d) and the court grants it, foreclosure can resume before the bankruptcy case is over.
Q: What happens if my Renton home is already in foreclosure?
A: If your home is scheduled for a trustee's sale under RCW 61.24, filing for bankruptcy before the sale date will stop it. However, bankruptcy cannot reverse the foreclosure if you wait until after the sale.
Q: Can I eliminate my Renton mortgage debt through bankruptcy?
A: While Chapter 7 can discharge your liability for the mortgage, it does not remove the lender's right to foreclose on the property. On the other hand, Chapter 13 allows you to restructure mortgage arrears and, in some cases, remove junior liens or second mortgages through a process called lien stripping under 11 U.S.C. § 506(d).
Q: Can I sell my Renton home while in bankruptcy?
A: Yes, but you need court approval. Under 11 U.S.C. § 363, the Western District of Washington's bankruptcy court approves any sale of property in bankruptcy. In Chapter 13, the sale proceeds must be applied to your repayment plan or used to pay off creditors.
Q: What if I have a home equity loan or second mortgage on my Renton home?
A: In Chapter 13, if your home's market value is less than your first mortgage balance, you may be able to strip off a second mortgage or home equity loan as unsecured debt under 11 U.S.C. § 1322(b)(2). The courts could discharge your second mortgage at the end of your repayment plan.
Q: Will bankruptcy stop property tax foreclosure in King County?
A: Yes, but only temporarily. Property tax debt is considered a priority obligation (11 U.S.C. § 507(a)(8)). In Chapter 13, past-due property taxes can be paid off through your repayment plan, preventing foreclosure by the King County Treasury.
Call Our Renton Law Firm For Your Free Foreclosure Consultation With An Attorney
King County has the highest foreclosure rate in Washington, and Renton homeowners are feeling the pressure. Under RCW 61.24, lenders must follow strict procedures before foreclosing on your home and selling it at auction. Whether you live in Highlands or near Coulon Park, don't wait if you fear losing your property. Call our Renton attorneys now to discuss how we can help you keep it.
