Stop Foreclosure
Q2: How can I buy an auction property?
Answer: After a property owner misses several mortgage payments, the owner has a pre-foreclosure grace period of a few weeks to a few months -- depending on the state -- to bring the payments up to date and stop any foreclosure proceedings. If the owner does not bring the delinquent payments up to date during the pre-foreclosure period, the property will be sold at a public auction.Chapter 13 is called "debt adjustment.
Are you going to tell us to file bankruptcy?
No. Bankruptcy is never a good solution for families who are behind on their mortgage. Bankruptcy may delay foreclosure, but it doesn't stop it and does not save your home.
What if I have poor credit?
No problem at all. In fact, your credit history is irrelevant. We know how mortgage lenders think, and we negotiate with them on your behalf without any reference to your credit rating. Once we stop foreclosure and save your home, we've also put you on the road to a better credit rating in the future.Chapter 13 is called "debt adjustment." A Chapter 13 is a repayment Plan where you pay back all or part of your debts over time, up to five years.
What if a foreclosure is filed against my home before I file?
In Florida we can usually stop a foreclosure and give you an opportunity to catch up the mortgage payments through a chapter 13 bankruptcy so long as we file the bankruptcy before the foreclosure sale. If a summary judgment is entered before we file, this may limit our ability to fight the amount owed, so it is best to file as early as possible in the foreclosure process, or before any foreclosure is filed.Answer: After a property owner misses several mortgage payments, the owner has a pre-foreclosure grace period of a few weeks to a few months -- depending on the state -- to bring the payments up to date and stop any foreclosure proceedings.
WHAT SHOULD I DO IF I AM SURRENDERING MY HOME AS PART OF THE BANKRUPTCY?
You should now stop making all mortgage payments and real estate tax payments, and make preparations to move within one to three months, depending on whether the court has started foreclosure proceedings. You should however, if possible, retain liability insurance only, in case persons injure themselves on your property prior to any sheriff sale. Since there ultimately will be a sheriff sale, either during bankruptcy or after, you should prepare to vacate the premises prior to the sheriff sale.Yes. The automatic stay law prevents creditors from taking any action to collect debts. When a person gets behind on paying his or her bills, creditors often take various actions to collect. Creditors may call home or work, family, friends, fellow employees or even your employer. Co-signers and guarantors may be called upon to make payments.
Will the bankruptcy stop creditors from calling?
Yes. The automatic stay law prevents creditors from taking any action to collect debts. When a person gets behind on paying his or her bills, creditors often take various actions to collect. Creditors may call home or work, family, friends, fellow employees or even your employer. Co-signers and guarantors may be called upon to make payments. Mortgage holders and other creditors may initiate foreclosure or repossession of cars, furniture, and appliances or other items.Filing a Chapter 13 will stop your mortgage company from pursuing foreclosure.
Answer: After a property owner misses several mortgage payments, the owner has a pre-foreclosure grace period of a few weeks to a few months -- depending on the state -- to bring the payments up to date and stop any foreclosure proceedings. If the owner does not bring the delinquent payments up to date during the pre-foreclosure period, the property will be sold at a public auction.Chapter 13 is called "debt adjustment.
Are you going to tell us to file bankruptcy?
No. Bankruptcy is never a good solution for families who are behind on their mortgage. Bankruptcy may delay foreclosure, but it doesn't stop it and does not save your home.
What if I have poor credit?
No problem at all. In fact, your credit history is irrelevant. We know how mortgage lenders think, and we negotiate with them on your behalf without any reference to your credit rating. Once we stop foreclosure and save your home, we've also put you on the road to a better credit rating in the future.Chapter 13 is called "debt adjustment." A Chapter 13 is a repayment Plan where you pay back all or part of your debts over time, up to five years.
What if a foreclosure is filed against my home before I file?
In Florida we can usually stop a foreclosure and give you an opportunity to catch up the mortgage payments through a chapter 13 bankruptcy so long as we file the bankruptcy before the foreclosure sale. If a summary judgment is entered before we file, this may limit our ability to fight the amount owed, so it is best to file as early as possible in the foreclosure process, or before any foreclosure is filed.Answer: After a property owner misses several mortgage payments, the owner has a pre-foreclosure grace period of a few weeks to a few months -- depending on the state -- to bring the payments up to date and stop any foreclosure proceedings.
WHAT SHOULD I DO IF I AM SURRENDERING MY HOME AS PART OF THE BANKRUPTCY?
You should now stop making all mortgage payments and real estate tax payments, and make preparations to move within one to three months, depending on whether the court has started foreclosure proceedings. You should however, if possible, retain liability insurance only, in case persons injure themselves on your property prior to any sheriff sale. Since there ultimately will be a sheriff sale, either during bankruptcy or after, you should prepare to vacate the premises prior to the sheriff sale.Yes. The automatic stay law prevents creditors from taking any action to collect debts. When a person gets behind on paying his or her bills, creditors often take various actions to collect. Creditors may call home or work, family, friends, fellow employees or even your employer. Co-signers and guarantors may be called upon to make payments.
Will the bankruptcy stop creditors from calling?
Yes. The automatic stay law prevents creditors from taking any action to collect debts. When a person gets behind on paying his or her bills, creditors often take various actions to collect. Creditors may call home or work, family, friends, fellow employees or even your employer. Co-signers and guarantors may be called upon to make payments. Mortgage holders and other creditors may initiate foreclosure or repossession of cars, furniture, and appliances or other items.Filing a Chapter 13 will stop your mortgage company from pursuing foreclosure.
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