Can you stop my home foreclosure?

Yes.  In a Chapter 13 Bankruptcy case, we can stop forecloosure by proposing a plan whereby you bring your mortgage current over time while continuing to make the regular monthly mortgage payment. You will have to resume making your regular monthly payments after your case is filed. You must have the ability to make those regular monthly payments, pay your basic living expenses and make a payment to the Court to bring your mortgage current. Your payment plan to the court will go from three to five years,depending on your income and other debts.

In a Chapter 7 Bankruptcy case, if you are not current on your payments, the Bankruptcy will postpone the foreclosure until your case is discharged or until your creditor/mortgage holder files a motion for, and is granted, "relief from stay."  Your mortgage company may be willing to do a loan modification after you file a Chapter 7 bankrutpcy. However, if you file a Chapter 7 bankruptcy when you are behind on mortgage payments, you may not be able to keep your house.

Edrie Pfeiffer
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Edrie Pfeiffer, Bankruptcy & Divorce Attorney