Can Bankruptcy Help Save My Home From Foreclosure?

The information provided is for general informational purposes only and does not constitute legal advice.  Every legal situation is unique, and you should consult an experienced attorney for advice tailored to your specific circumstances. For personalized assistance, contact our office directly.

If you’re facing foreclosure on your home, you may feel like you’ve run out of options. However, bankruptcy can offer a lifeline and help you protect your most valuable asset. As a bankruptcy attorney in Sebring, Florida, I’ve helped many clients stop foreclosure and keep their homes. Here’s how bankruptcy can help you during this difficult time.

How Bankruptcy Stops Foreclosure

When you file for bankruptcy, an automatic stay goes into effect. This stay halts all collection actions, including foreclosure proceedings. This gives you breathing room to catch up on missed mortgage payments or explore other options.

Chapter 7 Bankruptcy and Foreclosure

Chapter 7 bankruptcy eliminates most unsecured debt, such as credit card debt and medical bills. While it can stop foreclosure temporarily by halting collection efforts, it doesn’t create a long-term solution if you’re behind on your mortgage. However, the automatic stay can buy you time to negotiate with your lender.

Chapter 13 Bankruptcy and Foreclosure

Chapter 13 bankruptcy is the more powerful tool for saving your home. Under this chapter, you create a repayment plan that allows you to catch up on missed mortgage payments over 3 to 5 years. At the end of the plan, you’ll be current on your mortgage, and foreclosure will be avoided.

This makes Chapter 13 the preferred option for those who want to keep their homes and eliminate their debt.

Why Act Quickly

The sooner you file for bankruptcy, the more options you have. The automatic stay provides immediate relief from foreclosure, so don’t wait until your house is auctioned or repossessed. Filing early gives you the time needed to develop a strategy to save your home.

Your Home Is Worth Saving

I understand how important your home is to you. As a bankruptcy attorney in Sebring, Florida, I’ll work with you to explore all of your options for saving your home. We’ll navigate the bankruptcy process together, with your best interests in mind.

Take Action Now to Protect Your Home

If you’re facing foreclosure, don’t wait until it’s too late. Call my office today at [insert phone number] for a free consultation. Together, we’ll explore how bankruptcy can stop foreclosure and help you keep your home. Your home and your financial future deserve protection—call now!