Can we stop a foreclosure if we file chapter 13 banko?
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Answer:
Here is the laws in your state in which you live...click on Forclosures, and then your State and everthing you wish to know will be there, good luck
i don't think so because if u have to put that in your bankruptsy...then you'd lose your house anyways..(unless your talking about putting your other bills in there) and paying on the house or whatever.But if it's included in your bankruptsy then no it still wouldn't be safe!They could still take your house.
Yes. Although, bankruptcy should be your last resort. I actually work for a company that assists homeowners in foreclosure in obtaining a repayment plan through the mortgage company or other resolutions which may apply.. E-mail me at cyclone66006@yahoo.com for more info.
A Chapter 13 is a personal debt reorganization bankruptcy. The Chapter 13 Trustee will help you put to together a repayment program that will enable you to repay all of your secured debt, upon which you do not wish to relinquish ownership of the security, and a certain percentage of your unsecured debt over a period of 3 to 5 years.
Your mortgage payment through the bankruptcy will include the current mortgage payment plus an amount towards the arrearage that will bring your payments current at the end of the plan.
As long as you maintain the plan payments, your mortgage lender will be cooperative. If you default further, they may seek relief from the stay of bankruptcy and pursue foreclosure.
Do you HAVE to file Bankruptcy?
If you have equity in your home you could just refinance, or refinance before foreclosure occurs.
You could also file a Homestead Act to protect your property.
Consult with a lawyer.
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