stop the Foreclosure with inscription on the piece of paper

Filing for chapter 13 bankruptcy can help stop foreclosure and save your home. Chapter 13 bankruptcy allows individuals with a regular source of income to create a repayment plan and make structured payments to creditors over a period of three to five years.

If you are behind on your mortgage payments and facing foreclosure, filing for chapter 13 bankruptcy immediately may help stop the foreclosure process. Once you file for bankruptcy, an automatic stay goes into effect that prevents foreclosure actions from moving forward. The automatic stay remains in place throughout your bankruptcy repayment plan.

This gives you time to negotiate a mortgage modification or repayment plan with your lender. The goal is to catch up on missed payments and become current on your mortgage again. Your bankruptcy trustee can help facilitate discussions with your lender to come up with an acceptable plan.

In some cases, you may be able to reduce your mortgage principal balance, interest rate or monthly payments through a modification. However, mortgage lenders are not required to modify your loan in bankruptcy. They must only allow you to catch up on missed payments.

If you do not receive a mortgage modification, you will need to make your regular mortgage payments going forward as well as the repayment plan payments through your chapter 13 plan. Your trustee will take a portion of your income to distribute to your creditors, including your mortgage lender.

In summary, filing for chapter 13 bankruptcy can stop foreclosure temporarily while you work out a longer-term plan to save your home. But there are no guarantees – it all depends on your lender’s willingness to negotiate an acceptable modification or repayment plan.

Submit your inquiry at to schedule a no-cost appointment to save your home.

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