What are some of the advantages of Chapter 13 bankruptcy?
One advantage is the ability to stop a foreclosure on your house, and to have a mortgage that has been accelerated declared reinstated upon bankruptcy plan completion.In Florida we can usually stop a foreclosure and give you an opportunity to catch up the mortgage payments through a chapter 13 bankruptcy so long as we file the bankruptcy before the foreclosure sale. If a summary judgment is entered before we file, this may limit our ability to fight the amount owed, so it is best to file as early as possible in the foreclosure process, or before any foreclosure is filed.Yes.
What kind of people send these letters and can they really help me?
Mortgage Brokers. If there is enough equity in your home they can help you to refinance and stop the foreclosure by paying off your current mortgage in full. This solution often works well, but you must be careful because the interest rate and closing costs on these types of loans can be high.Yes, provided that you have not previously filed bankruptcy cases which were dismissed.
What if I have poor credit?
No problem at all. In fact, your credit history is irrelevant. We know how mortgage lenders think, and we negotiate with them on your behalf without any reference to your credit rating. Once we stop foreclosure and save your home, we've also put you on the road to a better credit rating in the future.Chapter 13 is called "debt adjustment." A Chapter 13 is a repayment Plan where you pay back all or part of your debts over time, up to five years.
Are you going to tell us to file bankruptcy?
No. Bankruptcy is never a good solution for families who are behind on their mortgage. Bankruptcy may delay foreclosure, but it doesn't stop it and does not save your home.Contact an attorney immediately. If your mortgage was entered into prior to October 4, 2005 and you were affected by Hurricane Katrina, you have an absolute right to stop this method of foreclosure, forcing your lender to proceed through the Chancery Court until October 4, 2007.
WHAT SHOULD I DO IF I AM SURRENDERING MY HOME AS PART OF THE BANKRUPTCY?
You should now stop making all mortgage payments and real estate tax payments, and make preparations to move within one to three months, depending on whether the court has started foreclosure proceedings. You should however, if possible, retain liability insurance only, in case persons injure themselves on your property prior to any sheriff sale. Since there ultimately will be a sheriff sale, either during bankruptcy or after, you should prepare to vacate the premises prior to the sheriff sale.Yes. The automatic stay law prevents creditors from taking any action to collect debts. When a person gets behind on paying his or her bills, creditors often take various actions to collect. Creditors may call home or work, family, friends, fellow employees or even your employer. Co-signers and guarantors may be called upon to make payments.
Why would I need this service?
If you get sick, you go to a doctor. If you have legal problems, you seek the services of an attorney. When you need assistance with your mortgage, seek the services of a certified lender mediation expert (Certified Loss Mitigation Specialist). This service can not only stop the foreclosure and save your home, it can also save you thousands of dollars.You should now stop making all mortgage payments and real estate tax payments, and make preparations to move within one to three months, depending on whether the court has started foreclosure proceedings. You should however, if possible, retain liability insurance only, in case persons injure themselves on your property prior to any sheriff sale. - 16089
One advantage is the ability to stop a foreclosure on your house, and to have a mortgage that has been accelerated declared reinstated upon bankruptcy plan completion.In Florida we can usually stop a foreclosure and give you an opportunity to catch up the mortgage payments through a chapter 13 bankruptcy so long as we file the bankruptcy before the foreclosure sale. If a summary judgment is entered before we file, this may limit our ability to fight the amount owed, so it is best to file as early as possible in the foreclosure process, or before any foreclosure is filed.Yes.
What kind of people send these letters and can they really help me?
Mortgage Brokers. If there is enough equity in your home they can help you to refinance and stop the foreclosure by paying off your current mortgage in full. This solution often works well, but you must be careful because the interest rate and closing costs on these types of loans can be high.Yes, provided that you have not previously filed bankruptcy cases which were dismissed.
What if I have poor credit?
No problem at all. In fact, your credit history is irrelevant. We know how mortgage lenders think, and we negotiate with them on your behalf without any reference to your credit rating. Once we stop foreclosure and save your home, we've also put you on the road to a better credit rating in the future.Chapter 13 is called "debt adjustment." A Chapter 13 is a repayment Plan where you pay back all or part of your debts over time, up to five years.
Are you going to tell us to file bankruptcy?
No. Bankruptcy is never a good solution for families who are behind on their mortgage. Bankruptcy may delay foreclosure, but it doesn't stop it and does not save your home.Contact an attorney immediately. If your mortgage was entered into prior to October 4, 2005 and you were affected by Hurricane Katrina, you have an absolute right to stop this method of foreclosure, forcing your lender to proceed through the Chancery Court until October 4, 2007.
WHAT SHOULD I DO IF I AM SURRENDERING MY HOME AS PART OF THE BANKRUPTCY?
You should now stop making all mortgage payments and real estate tax payments, and make preparations to move within one to three months, depending on whether the court has started foreclosure proceedings. You should however, if possible, retain liability insurance only, in case persons injure themselves on your property prior to any sheriff sale. Since there ultimately will be a sheriff sale, either during bankruptcy or after, you should prepare to vacate the premises prior to the sheriff sale.Yes. The automatic stay law prevents creditors from taking any action to collect debts. When a person gets behind on paying his or her bills, creditors often take various actions to collect. Creditors may call home or work, family, friends, fellow employees or even your employer. Co-signers and guarantors may be called upon to make payments.
Why would I need this service?
If you get sick, you go to a doctor. If you have legal problems, you seek the services of an attorney. When you need assistance with your mortgage, seek the services of a certified lender mediation expert (Certified Loss Mitigation Specialist). This service can not only stop the foreclosure and save your home, it can also save you thousands of dollars.You should now stop making all mortgage payments and real estate tax payments, and make preparations to move within one to three months, depending on whether the court has started foreclosure proceedings. You should however, if possible, retain liability insurance only, in case persons injure themselves on your property prior to any sheriff sale. - 16089
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