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January 19, 2011

Halt Foreclosures

Filing bankruptcy stops a foreclosure case in it’s tracks and gives you time to assess your mortgage.  A Chapter 13 bankruptcy might help you reorganize your mortgage arrears over a 3 or 5 year period.  If you are moving on from your home, a bankruptcy can buy you more time to find a new place.  Filing bankruptcy during your foreclosure may close the door on any negative tax implications for forgiveness of debt income.  Filing bankruptcy during a foreclosure also relieves you of any personal liability for the note secured by your mortgage.

LEARN MORE ABOUT THE FORECLOSURE PROCESS

LEARN MORE ABOUT LOAN MODIFICATIONS and SHORT SALES

Knowledge is power:
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