Let’s talk about your options; call us!! Bankruptcy is a sure fire solution!!
Life happens. Right in the middle of living the “American Dream”, and in your wonderful home, suddenly you suffer an illness, job loss, or major unexpected expense. You fall financially behind. You become late on your mortgage and begin to receive escalation letters, or even a notice of foreclosure! It’s frightening to think you will lose your home!
The most important thing you must do at such a time is act fast! Contact us at 844-402-2992 and let us help you save your home. You can enter into a Chapter 13 bankruptcy which will allow you to pay back your mortgage arrears over time. It can be a life saver.
Foreclosure begins after a homeowner falls behind on the mortgage payments and the lender begins the process of selling your home at auction. You may still be living in the home – but if sold, you would no longer be the owner. You would have to relocate. You may also owe the difference between your original note balance and some low sales price from auction. If this has happened already, then you can still file a bankruptcy to help eradicate that debt.
If you have been noticed of foreclosure, there are many steps you can take to work out your loan to avoid the foreclosure, perhaps a loan modification, or a forbearance of payments, or a simple payment plan. Often though, these alternatives are not available. If not, then you need to consult with bankruptcy counsel and prepare yourself for a chapter 13 bankruptcy.
When you file your chapter 13 bankruptcy, the court immediately issues an injunction order that includes the “automatic stay.” The automatic stay forces your mortgage lender and other creditors to immediately HALT any collection activities whatsoever, including a foreclosure. If your home is scheduled for auction, it will be immediately halted once your bankruptcy is filed.
While you are in your chapter 13, you will have to pay a portion of your income each month to the chapter 13 trustee AND you will have to stay current on your monthly mortgage payment as it comes due. If you fall behind in your post-petition obligations, it may become more challenging to keep your home. You must be able to afford to maintain your payments as you go forward. You must be committed. We are more than happy to help you legally navigate this commitment!