EP 216: The Foreclosure Law Playbook! Stop Bankruptcy & Save Your Home with Mike Russell (Part 2)

In the crucial Part 2 of our conversation with Mike Russell, founder of Hope for Hardship, we move beyond the hardship story and give you the specific legal blueprint for fighting foreclosure. Host Corwyn J. Melette and Mike dissect the entire process, revealing the critical deadlines, the dangers of filing Chapter 13 bankruptcy, and the precise moment you must act to save your home. Stop hiding from your creditors and start learning the law today!Key Takeaways 0:27 The Right to Cure: Mike explains the crucial period (typically 90 days) granted to consumers to "cure the debt" after falling into default before the bank can proceed with formal foreclosure.1:07 The Foreclosure Timeline: Learn the approximate 150-day period from the last payment until the bank is ready to file a Notice of Intent to Foreclose (1:46).2:40 The Court Date Misconception: Mike clarifies the common mistake of confusing the Service Members Act court notice (2:01) with a required court date for non-military homeowners.4:09 The Woodwork Warning: The moment the foreclosure becomes public record, leading to a barrage of calls and solicitations from people seeking to "capitalize on the perceived misfortune of others."5:57 The Chapter 13 Trap: Mike, drawing from his experience, warns against filing Chapter 13 bankruptcy simply to get a temporary stay on an auction (6:35), explaining how this often fails and leaves the consumer with both a bankruptcy and a foreclosure on their record.9:44 A Triumph Story (The Soft Landing): Mike shares a powerful success story of helping a family execute a short sale (11:05), rebuild their credit, and eventually buy the rental property they moved into (11:56).12:25 Struggle is a Chapter: Mike offers his philosophy: "Struggle is just a chapter unless you make it permanent," emphasizing that a crisis is not the end of one's existence.14:39 Direct Contact & Resources: Mike shares his cell phone and website for anyone seeking immediate guidance.Connect with Mike:Contact Number: (508) 728-6465Website: Help4hardship.orgEmail Address: [email protected]: https://www.linkedin.com/in/mike-russell-3395baa/Connect with Corwyn:Contact Number: 843-619-3005Instagram:⁠ https://www.instagram.com/exitstrategiesradioshow/⁠FB Page:⁠ https://www.facebook.com/exitstrategiessc/⁠Youtube:⁠ https://www.youtube.com/channel/UCxoSuynJd5c4qQ_eDXLJaZA⁠Website:⁠ https://www.exitstrategiesradioshow.com⁠Linkedin:⁠ https://www.linkedin.com/in/cmelette/⁠Shoutout to our Sponsor: Mellifund Capital, LLCNeed funding for your next real estate flip or build? MelliFund Capital makes it fast, flexible, and investor-friendly. Visit MelliFundCapital.com and fund your future today. Again, that's MelliFundCapital.com, M-E-L-L-I-L-U-N-D, Capital.com.