Foreclosure and Bankruptcy Law in Rockville, Maryland
Trust the future of your finances to the foreclosure and bankruptcy law experts at Law Offices Of Richard B Rosenblatt in Rockville, Maryland. Our team has more than 25 years of experience handling these types of cases. We are also experienced in handling consultations regarding estate and probate settlements, estate planning lawsuits, loan modification relief from debt cases, tax collection suits, collection matters, and asset protection cases.
Foreclosure Prevention and Mediation
Foreclosure mediation is a collaborative avenue that takes a foreclosure situation and makes it beneficial to you, the homeowner. Through the mediation process, a lender will be able to collect the back payments that are owed and the homeowners will be able to keep their home and hopefully walk away with a more realistic mortgage payment for their home. This is done through a mediated settlement agreement.
The process of mediation refers to the procedure by which a lender attempts to renegotiate the existing terms of a homeowner's mortgage. This process makes the mortgage balance current and keeps the homeowner from defaulting frequently.
Business and Personal Bankruptcy
Small business bankruptcy is different for incorporated businesses because corporations are independent legal entities. Running an incorporated business gives a small business owner liability protection. For an incorporated business, it is the business's assets that are forfeit, not the individual's assets and holdings.
When discussing small business bankruptcy, there's not much difference between personal bankruptcy and that of a small business. If a person's business is a sole proprietorship or a partnership, legally, they are their business, so when they face the prospect of bankruptcy, all their assets are involved and the bankruptcy procedures are virtually the same. In other words, the assets of the business cannot be held separate from the assets of the business owner, which are considered their personal assets, so a small business bankruptcy is for all intents and purposes listed as a personal bankruptcy.