If you are facing a foreclosure in Houston, Bankruptcy can be an option to prevent you from losing your home. Filing for bankruptcy of any type generally stops the foreclosure on your home. The automatic stay of bankruptcy goes into effect the moment you file a bankruptcy case which will stop most collection efforts against you. Your mortgage lender, the taxing authority, a homeowners association or whoever is foreclosing on you must cease their foreclosure actions immediately. You will then have some time to decide what to do.
Filing a Chapter 13 Bankruptcy will stop foreclosure, and can allow you to repay your past due payments over 3 to 5 years. Filing Chapter 13 Bankruptcy will stop a foreclosure and prevent your home from being sold. Chapter 13 is a debt relief option that can not only stop foreclosure and allow you to save your home, but can also allow you to keep your other property while repaying your debts on your terms. Disposable income from your regular income is what usually funds a Chapter 13 repayment plan. Chapter 13 was designed to help people facing foreclosure and other potential losses of property. Stopping foreclosure is the primary reason people file for Chapter 13 bankruptcy. So, if you are eligible, Chapter 13 can stop foreclosure on your Houston home.
If your lender is threatening foreclosure or has initiated foreclosure proceedings, you should contact us right away. You cannot save your home once the foreclosure sale has begun. Unless you’ve recently filed a previous bankruptcy case, Chapter 13 will most always stop the foreclosure. If you’re like most people in Houston, your home is your biggest investment. So when you are facing a foreclosure and the prospect of losing your home, you risk losing your biggest investment. Don’t wait until the day before the foreclosure sale to do something or it may be too late.
At R.J.Atkinson we have helped thousands throughout Texas to stop foreclosure with Chapter 13 Bankruptcy, and we may be able to help you. If bankruptcy is not an option for you we can help you explore other options to save your home.
Call Houston Bankruptcy Attorney R.J.Atkinson & Stop Foreclosure 713-862-1700