Are You Behind On Mortgage Payments? Chapter 13 Bankruptcy Can Stop Foreclosure and Help You Save Your Home

Whether you are behind a few months on your mortgage or you have already received notice of a foreclosure, Chapter 13 bankruptcy can help you save your home. Filing bankruptcy will generally stop any pending foreclosure. Through Chapter 13 bankruptcy you will have a chance to get caught up on missed mortgage payments through a monthly payment that you can afford. 

People often get behind on their mortgages due to sickness, divorce or temporary unemployment. They then go back to work and become more stable financially, but they can't get caught up all at once.  Chapter 13 will put an immediate end to the foreclosure process and allow you to get back on track with your mortgage payments. The way it works is for example: Bob and Susan are $6,000.00 behind on their mortgage. The $6,000.00 arrearage will be paid back though their chapter 13 plan at an average of $100.00 per month over 60 months while Bob and Susan continue to make their regular monthly mortgage payment through the Chapter 13.

The sooner you act, the better chance you have of saving your home.  It doesn't do any good to wait until the last possible minute. (Although we've had quite a few clients wait until the day before the foreclosure auction. That leads to a lot of unnecessary stress and is playing Russian roulette with your home.) Come meet with Lewisburg bankruptcy attorney Ivan McCullough to learn about your options and what is documents are needed to get the process started. Call (931) 422-7086 Text (931) 548-6879

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