Blog Topic
Foreclosures
How Can I Save My Home?
Many times I will have potential clients call my office, often in tears, because they have a pending foreclosure and they do not know where to turn. Often, when someone is in this predicament, they feel like the burden is too much to carry; they feel there is no way out but to let the home go. There is an alternative. Our office offers hope. We use the Federal laws to offer protection to homeowners. By filing a Chapter 13 debtor's court case, sometimes known as a Chapter 13 bankruptcy case, we can afford a homeowner protection from foreclosure. A Chapter 13 case allows a person who is behind on their mortgage payments or car payments to place the arrears, or the amount they are behind in payments, into a plan to be paid back over a three to five year period. Many times, this is just the type plan which can make paying bills feasible.
When someone becomes delinquent on a mortgage payment, it is like a snowball effect. About the time they get the money to pay the month they are behind, another month becomes due, and the cycle just keeps coming back around. It may seem like every time you get ahead, you fall behind again. A debtor's court plan enables a person to put all of the payments he is behind into the plan and allows him to resume his monthly mortgage payments directly to the mortgage company the next month. Thus, a person is able to keep his property. When the Chapter 13 case is file, the bankruptcy court stays or stops pending foreclosures.* Should you desire to know more or wish to schedule a free consultation, please Contact Us at Greenway Law, LLC.
* This applies to persons who have not had a bankruptcy case dismissed in the past year. Persons having one case dismissed in the prior year qualify for a thirty day stay, unless further relief is granted by the Court. Persons with two or more prior dismissals in the past year must petition the court for stay protection.
Options for Foreclosure Defense
Posted by: Paula Greenway
June 30, 2008
Does the Bank Really Have the Right to Foreclose?
Topics
Alabama Home Foreclosure
Bankruptcy Filing Statistics
Consumer Issues
Discharging Taxes in Bankruptcy
Filing Cases Against Creditors in Bankruptcy Court
Foreclosures
How Can Bankruptcy Help Me?
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