he answer to getting out of debt begins here

 

Since 2008 many people have been struggling with their mortgages and many have come close to losing their homes after foreclosure crisis kicked in. One of the areas that people looked for help was in the area of bankruptcy. Many people filed bankruptcies in an effort to save their homes from foreclosure. This comes with complications. The following is the information you might want to consider if you want to file bankruptcy to save your home.
In the case of a home owner that has been foreclosed on and a sale date has been set and you are days away from the sale date. Filing a chapter 7 bankruptcy in this case will stop the sale because the automatic stay goes into affect. This is going to be the only benefit you will get from the chapter 7 in helping you keep your home. The individual can say they want to keep house and work with the lender but lenders are not likely to agree to loan modification if the person is in a chapter 7 bankruptcy.
The way that a bankruptcy can help a homeowner trying to save their home is by filing a chapter 13. This allows the homeowner to reorganize their debts and create a payment plan. A chapter 13 will also have a program to encourage modifications. The people filing for chapter 13 bankruptcy is given this. If you want to save your home this is the way to go.
What makes us different is that we walk you through every stage, making the process easier to deal with. At our law firm our first priority is you the client. Let our experience work for you.