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Bankruptcy Attorney Can Stop Foreclosure
CHAPTER 13 BANKRUPTCY AS A FORECLOSURE DEFENSE

Buying a home is no small thing. It takes a lot of work to save enough for a down payment and afford the payments for 10, 20 or even 30 years. In these uncertain financial times, it is common to find yourself in a position in which the expenses of the basic necessities of life take precedent and your home is suddenly the subject of a foreclosure proceeding. It would be a tragedy to lose your home to foreclosure, especially if it can be prevented. Chapter 13 bankruptcy – and to a lesser degree, Chapter 7 bankruptcy – can afford you an opportunity to save your home and repair your financial situation for the future.

If you are under water in your mortgage, you can use Chapter 13 to erase or lien-strip a second mortgage you have on the property while modifying the first mortgage in order to lower your payments. Chapter 13 can allow you to avoid foreclosure, keep your house and put any arrears into a payment plan while also restructuring your other debt to ease your overall financial hardship.

CHAPTER 13 BANKRUPTCY MAY BE YOUR BEST OPTION

You could allow the foreclosure to happen or you could just walk away and rent. But these options are very shortsighted. Gone are the days of getting a home with no down payment, and renting is more expensive than ever. And if your property has lost a lot of value recently – and who’s hasn’t? - you may still be responsible for the deficiency that you owe on the house even if you walk away.

In short, it is to your benefit to explore your foreclosure avoidance options. You have nothing to lose and everything to gain. Call David Enos – we can help you learn more about life after bankruptcy. We think you might like what you hear.

If you are considering filing for bankruptcy, please contact the Law Offices of David Enos for a free consultation with an Amarillo bankruptcy lawyer today (806)372-7307. 




DISCLAIMER
Information on this website is based on general principles of law. They may not apply to your situation. Nothing in this article constitutes legal advice and no reliance should be placed on the legal principles set forth in this website. This is why you should personally consult with attorney David Enos about your case.
Amarillo Bankruptcy Attorney David Enos Lawyer
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