If My House is In Foreclosure or About to Go Into Foreclosure and I have been Waiting for a Modification Which is Taking Forever, Should I consider Bankruptcy Instead In Order to Save My Home?
Call us immediately to discuss your Chapter 13 options so you can make a good decision as to whether it is in your best interest to continue to wait for a modification or to file for Chapter 13. Chapter 13 is a great option to allow you to catch up on your mortgage arrears. We cannot lower your mortgage payment, but we can put the arrears in a 3 to5 year repayment plan. The Bankruptcy Court can force your mortgage lender to take these payments even though your lender would like more, and your house is safe from foreclosure. The key here is to continue to make timely mortgage payement the month after you file for Chapter 13 [if it was filed after the due date of your mortgage payment] and stay current to the Bankruptcy Court for your Chapter 13 plan payment.
Lee Abt is an Experienced Bankruptcy Lawyer in New Jersey - Call Today!