Can Bankruptcy Stop Foreclosure ?
Home > Types of debt > Stop foreclosure 3
One of the scariest experiences is the prospect of losing your home. You have some tough luck and miss a mortgage payment or two. The bank wants to take your house away and leave you on the street. What can you do?
Yes, a bankruptcy can stop a foreclosure. In essence, you will be given a break to catch your breath. This will allow you time to start paying your arrearages (what you are behind). The bank will have to stop all attempts to take your home while you work out a plan with your lawyer.
Chapter 13 Bankruptcy is the perfect solution to this problem. In addition, you can get rid of your credit card debt by paying a portion of it back.
However, it's usually wise to attempt to negotiate with your lender first. They are often willing to work something out. If this is not an option though, bankruptcy can help.
Walk away? Or catch up in arrearages payments? Whatever your goal is, we can help you start over. Contact us now!