Photo by Matt Bowden on Unsplash. The mortgage forbearance extension can be helpful. But the whole situation is extremely stressful. Bankruptcy can help in many ways. Wild Foreclosure Moratorium Rollercoaster Ride If your mortgage has qualified for the federal mortgage foreclosure moratorium, the last 11 months have been a wild ride. Since the original 60-day foreclosure moratorium in March 2020, … Read More
Catch up on Property Taxes through Bankruptcy
Bankruptcy helps you catch up on property taxes: Chapter 7 discharges other debts, Chapter 13 helps with your mortgage & other special debts. Bankruptcy Stops a Property Tax Foreclosure Filing either a Chapter 7 “straight bankruptcy” or a Chapter 13 “adjustment of debts” case stops a foreclosure by your property tax authority. Filing bankruptcy stops most forms of debt collection … Read More
More Ways Bankruptcy Benefits Your Home
Bankruptcy helps with more than just your mortgage. You can avoid, or deal constructively with, judgment, income tax, support and HOA liens. Last week we gave you 7 ways that bankruptcy can either save your home now or protect it going forward. Here are the remaining 8 ways (#8 through #15), mostly involving involuntary liens placed on your home … Read More
Chapter 13 Gives More Time to Sell Your Home
If you need more time to sell your home, you can usually get more time than under Chapter 7. Can maybe even delay selling for several years. Our last blog post was about the relatively long time Chapter 13 gives you to catch up on your mortgage. Besides the 3 to 5 years it gives you, Chapter 13 also … Read More
Illustrating the Option of Home Surrender Much Later under Chapter 13
Here’s an example of how Chapter 13 can allow you to hold onto your home but then change your mind about it later.
Give up Your Home Much Later under Chapter 13
As you decide whether to use the powerful tools of Chapter 13 to hold onto your home, it helps to know that you can later change your mind.
Avoid Rushing to Sell Your Home to Prevent Foreclosure
Stopping a foreclosure through Chapter 7 or 13 while addressing your whole financial picture can be much better than hurrying a home sale.
Making Sense of Bankruptcy: Choosing between Chapter 7 and Chapter 13 to Save Your Home
If you’re behind on your home mortgage, when would a Chapter 7 regular bankruptcy be enough vs. needing the benefits of a Chapter 13 plan?
New Year Resolution #2: Find Out How Bankruptcy Can Save Your Home
Chapter 7 “straight bankruptcy” & especially Chapter 13 “adjustment of debts” come with some truly powerful tools for preserving your home.
Crucial Question: How Quickly Will Bankruptcy Stop a Home Foreclosure?
Bankruptcy will stop a foreclosure fast. But there are some very good reasons to get your ducks in a row early.