Will Bankruptcy Stop Foreclosure?
If your home lender has sent you a notice of foreclosure or has indicated that it intends to foreclose, filing bankruptcy may give you the chance to keep your home or to slow down foreclosure proceedings and give you an opportunity to negotiate with your lender to stay in your home Chapter 13 bankruptcy provides you with the ability to get back on track on your payments by letting you pay late payments over time.
Chapter 13 bankruptcy may also help you eliminate second or third mortgages if your first mortgage is equal to, or greater than, the value of your home. If that’s the case, the bankruptcy court may be able to “strip” away the second or third mortgage and reduce the overall debt you owe on your home.
To learn more about whether or not Chapter 7 bankruptcy or Chapter 13 bankruptcy is your best option, schedule your free, confidential bankruptcy consultation with a Colorado bankruptcy attorney today. Our online scheduling system allows you to schedule bankruptcy consultation at a time that is convenient for you.
Colorado Bankruptcy Law Group, LLC is a personal bankruptcy firm serving clients in the greater Denver area.
