If you’re facing foreclosure you can save your home by filing an emergency bankruptcy petition. Our foreclosure lawyer can stop the Trustee’s sale by electronically filing a chapter 13 bankruptcy petition in Sacramento. Through chapter 13 bankruptcy you can stop the foreclosure process and repay late mortgage payments over 3 to 5 years. If your lender is unwilling to work with you, chapter 13 bankruptcy is the right tool to force your lender into a repayment plan. Our bankruptcy attorney can usually stop the foreclosure process the same day you call. To stop the foreclosure process and save your home today call us at (916) 596-1018.
Stop Foreclosure Today
Chapter 13 bankruptcy can automatically stop the foreclosure process and protect your home from the Trustee’s sale. Title 11 of the United States Code, Section 362(a) requires the foreclosure process to stop as soon as a bankruptcy petition is filed. There is no waiting period between filing the petition and when the foreclosure sale must cease. If our attorney files your petition on Monday the scheduled Trustee’s sale on Tuesday must be called off.
Save Your Home
Filing an emergency bankruptcy petition won’t be enough to save your home. To protect your home over the long term you must repay late mortgage payments. Fortunately, chapter 13 bankruptcy allows homeowners to force their lender to accept repayment over 3 to 5 years. If you’ve dealt with a lender unwilling to work with you, chapter 13 bankruptcy is the best way to force you lender’s hand. Unlike short sales with a real estate agent chapter 13 bankruptcy does not require your lender’s consent. As long as our attorney can present a confirmable chapter 13 repayment plan your lender must accept repayment and let you stay in your home.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy is not well understood by the public. In chapter 13 bankruptcy clients usually keep their property, whereas in chapter 7 bankruptcy some valuable property can be sold with the money given to creditors. In exchange for keeping property the client agrees to use their disposable income to repay certain creditors in whole or in part over 3 to 5 years. After this 3 to 5 year repayment plan has been completed the client’s remaining dischargeable debts are eliminated.
One unique feature of chapter 13 bankruptcy that benefits homeowners facing foreclosure is its ability to cure defaults on long-term debts. As applied to foreclosure, clients can repay late mortgage payments over 3 to 5 years through their chapter 13 repayment plan. Upon completion of the repayment plan the client will no longer be in default on their home mortgage. As a result, the lender cannot initiate foreclosure proceedings. To learn more about our affordable bankruptcy fees visit https://sacramentobankruptcylawyer.us/how-much-cost or call us at (916) 596-1018.