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Foreclosure: Can a Bankruptcy Save My Home?

Did you know that a personal bankruptcy could help you save your home from foreclosure? Photo of empty house

If you are facing complications with your mortgage payment and have been threatened with foreclosure, speak to our Lewisville bankruptcy attorney about the benefits of a personal filing. Through a Chapter 13 bankruptcy filing, an automatic stay goes into effect that ends collection attempts, giving you time to work with a lender on saving your home.

During a Chapter 13 bankruptcy, people enter into debt repayment plans. These repayment plans can last for three to five years, allowing you to make past due payments while keeping up on items like current payments and property taxes. Additionally, Chapter 13 bankruptcy allows debtors the opportunity at lien strips, or the chance to remove second or third mortgages, often called “junior mortgages.”

Our Bankruptcy Attorneys Can Help You Save Your Home

If you are thinking about filing for Chapter 13 bankruptcy, you should be aware that there are income requirements. Talk to our Lewisville bankruptcy attorneys about these requirements and how a personal filing may be in your best interest when it comes to saving your home.

Again, when you file for Chapter 13 bankruptcy, all foreclosure actions are delayed. This is great relief for people who are struggling to make mortgage payments and have been threatened with legal action.

Our bankruptcy lawyers can guide you through the legal process and help you achieve your goals when it comes to saving your home. In addition to helping you save your home, a Chapter 13 bankruptcy can help you pay off and/or eliminate other debts such as credit card debt, medical bills and certain taxes.

For more information about bankruptcy laws and foreclosure in Texas, you can visit our Twitter and Facebook pages. To contact us, you can use the case review form located on this page.

Shuster Law Firm PLLC – Lewisville Bankruptcy Attorneys