Chapter 13

If you need to catch up on your home loan, and want to keep your house chapter 13 bankruptcy is usually the best solution . Chapter 13 bankruptcy will give you the ability to catch up your late payments over his 3 to 5 year life of your bankruptcy plan. The main caveat that is during that 3 to 5 years you must keep regular with all your payments. A good lawyer can help you set that up.

The most important thing you can do the first time you miss a house payment is make an appointment with a lawyer immediately. Chapter 13 takes a good amount of preparation and you will be better served to know your options quickly. Filing chapter 13 before your foreclosure sales date usually is best because you're assured that it won't be late. Filing chapter 13 early also saves you money. If you are facing foreclosure and considering chapter 13 mortgage documents that you sign usually require you to pay lenders costs and attorney fees in foreclosure proceedings. It is to your advantage to plan early.

With the drop in home values in recent years, we now often find we can strip off second mortgage that is completely unsecured. Stripping off the second mortgage that is unsecured can really give people in a foreclosure situation some breathing room.

Money problems can be overwhelming. No one wants to consider bankruptcy. But often, bankruptcy can offer unique and powerful relief for beleaguered borrowers. Thousands of people in San Diego have taken this road, it was the right thing for them. The best thing you can do right now is come in and talk about your unique situation. Knowing what your options are will give you the information you need to decide what's right for you.