My home is scheduled to be foreclosed on very soon, I have attemtped to work the situtation out with my mortgage company. They have agreed to a repayment plan, however my new monthly mortgage payment will go from $1100 monthly to $1950 monthly. I cannot afford to pay that, but I can't lose my home. If I file Chapter 13 will this stop the foreclosure?
Foreclosure and Chapter 13
1 Comments:
Yes, you can file a Chapter 13 bankruptcy to stop a foreclosure action on real property. Your Chapter 13 Petition must be filed with the Court prior to the foreclosure sale. Once the foreclosure sale occurs, it is too late to save your home through a Chapter 13 bankruptcy. You should contact a bankruptcy attorney, and advise them of the scheduled foreclosure dates, for more information.
By Bankruptcy Expert, at 11:10 AM
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