How To Avoid Home Foreclosure
The home mortgage crisis of recent years has profoundly impacted many homeowners’ ability to make their payments. When combined with other forms of debt or second mortgages, many homeowners who are trapped in underwater mortgages turn to bankruptcy. If you are in that position, you are likely concerned about halting foreclosure.
The Importance Of Qualified Legal Counsel
It is critical to obtain qualified legal counsel before pursuing bankruptcy or other debt relief options. Contact me, attorney Christopher P. Walker, to learn more about how to prevent or stop home foreclosure.
With over 25 years of experience in bankruptcy law, I provide personalized legal counsel for all types of bankruptcy and debt relief cases. My services are cost-effective and results-oriented.
Mortgage Debt Relief Through Bankruptcy
The good news is that filing bankruptcy will stop the foreclosure proceedings during the duration of your bankruptcy case. Practically speaking, this gives you an important advantage: time. The delay in foreclosure will allow you to pursue resolving the underlying mortgage problem, for example by applying for a loan modification through your lender.
Whether you can ultimately keep your home depends on a number of circumstances.
It is important to consult with an experienced bankruptcy attorney to learn more about all possible outcomes in your case.
The Benefits Of Chapter 13 Bankruptcy In Saving Your Home
Chapter 13 bankruptcy can be especially beneficial for those strapped by underwater mortgages and second mortgages (or home equity loans). You may be able to “strip” — that is, completely eliminate — the second mortgage, which may in turn allow you to keep your home.
Through Chapter 13, you can set up an affordable payment plan to repay deficiencies in your mortgage payments. When spread out over three to five years, these monthly payments can be much more affordable. Additionally, if you are stuck with a homeowners association lien for deficient dues, you may be able to roll those payments into the affordable monthly repayment plan.
Contact A Chapter 7, Chapter 11 And Chapter 13 Bankruptcy Lawyer In Orange County
To schedule a free initial consultation and learn more about avoiding home foreclosure in Anaheim, California, and the surrounding areas, call the Law Office of Christopher P. Walker at 714-639-1990 or contact me online. For your convenience, evening appointments are available.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.