Are You Facing Foreclosure? Bankruptcy Can Help
If you have fallen behind on your mortgage payments, you may be served with a notice of foreclosure from your loan company or the bank. When that happens, you may also feel absolutely helpless to put a stop to the loss of your home.
However, you as a homeowner do have rights. In many cases, people become delinquent on their mortgage for reasons beyond their control. At the Baltimore, Maryland, law firm of Chad Edward Cos, LLC, we can help you take action to protect your home from foreclosure. Whether that means filing bankruptcy or seeking alternative resolutions, we seek to help you gain a fresh start.
How Bankruptcy Can Help Stop Foreclosure
When you file bankruptcy, an “automatic stay” goes into effect that prevents creditors from pursuing debt collection. This includes stopping foreclosure on your home, even if you have already been served with a notice of foreclosure or a date of the sheriff’s sale. Lawyer Chad Edward Cos will protect your rights with respect to the automatic stay in preventing the process from moving forward, giving you some time to consider your debt relief options.
Will I Be Able To Keep My Home?
As a secured debt, your mortgage is not completely dischargeable under the U.S. Bankruptcy Code, so all back payments will need to be made upon the completion of your bankruptcy case.
However, individuals who file Chapter 13 bankruptcy often find that by reorganizing other debts into a repayment plan, they have the financial freedom to continue making timely payments on the mortgage. Furthermore, in some cases homeowners may be able to strip off a lien or cram down a second mortgage through Chapter 13.
Even people who file Chapter 7 bankruptcy have options for protecting their homes, and many of our clients have. We will review your situation and discuss your goals so you can make informed decisions about what matters most to you.
Protect Your Rights To Stay In Your House
The bottom line is that you likely have options to protect your home from foreclosure. We can help you determine which one best fits your situation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.