When Facing Foreclosure: How A Bankruptcy Lawyer Can Help

If you are behind on your mortgage payments and buried under a mountain of debt, it's time to talk to a bankruptcy attorney about your options. When you are a homeowner, you don't have to lose your home because you got behind a few months on your mortgage. Bankruptcy can be filed to stop any foreclosure proceedings and is a way to restructure your debt in order to keep your home. As long as the foreclosure sale has not gone through, you can work with a bankruptcy attorney in an effort to keep your home from being sold because you are behind on the mortgage.

Navigate the Court System with a Bankruptcy Attorney

It's stressful to be behind on your bills and not know how you are going to avoid foreclosure on your home. Once you are a couple of months behind on your mortgage payments, your lender may begin the foreclosure process in order to force the sale of your home. When you hire a bankruptcy lawyer, you will gain a better understanding of the bankruptcy rules in your area. You will be able to argue your standing in court and gain the leverage you need to keep your home.

Chapter 13 Bankruptcy and Your Home

When you file for Chapter 13 bankruptcy, the goal is to restructure your debt and pay back what you owe to your mortgage lender in order to keep your home. This type of bankruptcy involves paying a monthly sum in order to pay back the debt you owe without having to lose your home. Although you can file a Chapter 7 bankruptcy to eliminate your debt, this only slows down the foreclosure process temporarily.

Hire a Lawyer Early in the Process

It is always best to begin working with an attorney as soon as possible, as you are likely to have more options when it comes to keeping your home and avoiding foreclosure. If you wait too long, you can end up being forced to sell your home in a foreclosure sale. Speak to an attorney early on when you are concerned about your finances and unsure of what to do next.

If you are dealing with a foreclosure and trying to keep your home, it's time to see how a bankruptcy lawyer can help. You can prolong the process of foreclosure or prevent one completely if you file a Chapter 13 bankruptcy.

Contact a local bankruptcy lawyer to learn more.