Foreclosures and Bankruptcy

People are often undergoing a foreclosure while considering a Bankruptcy.  A Chapter 13 can allow you to keep the house and even strip off a totally unsecured second mortgage but you need disposable income to do it meaning that you can afford to pay the mortgage(s) and all of your other bills and have some left over for the 3 to 5 year payout to the unsecured creditors.

A chapter 7 is more common where we can stall the foreclosure with the Bankruptcy filing so you can stay in the house longer and we still discharge your unsecured credit card, medical, personal loans, and auto deficiency debts.  Its usually all over in 90 days.

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