When you file for bankruptcy an automatic stay helps protect you from creditors. This is a court-ordered injunction. It prevents creditors from seeking legal action against you after filing for bankruptcy. Without the filing, creditors can contact you by mail, phone, text, and so on. Consequently, you may be overwhelmed if you are having difficulty […]
Time is of the essence in a foreclosure. So, it is important to know what to expect and what you can do during the process. Once you receive a Notice of Default Recorded, the foreclosure timeline has officially begun. Meaning, you have approximately 120 days until your home is sold. It will either sell at […]
Some mortgage companies have been asking debtors to reaffirm their debt after filing a chapter 7 bankruptcy. What does this mean? Can you do this? Well, a reaffirmation agreement is a contract saying that you promise to repay a debt that would have been released in bankruptcy. So, if you reaffirm your mortgage, it means you […]
Most people who have arrears on their mortgage payments want to save their home and if you have equity in your home then you should consider a Chapter 13. The bankruptcy discharge eliminates your personal liability for the mortgage, however it does not remove the lien that secures the mortgage. Even after filing bankruptcy, the […]
What is a foreclosure? A foreclosure occurs when you fall behind on your mortgage loan payments. If you have enough money to make the mortgage current and make up the back payments, fees, penalties, then you can take action to stop the foreclosure process. Once the money is accepted by the bank, the foreclosure […]
Unfortunately, the costs of living and average household debt are ever-increasing. This makes foreclosure a reality for many Americans. Do you currently live in Southern California? Are you wondering if bankruptcy can stop foreclosure in Pasadena, CA? This is a common concern and one that fortunately, has a very inspiring answer. Residents of Pasadena, California […]
