"I WANT TO FILE FOR BANKRUPTCY BUT I WANT TO MODIFY MY HOME LOAN"

"I WANT TO FILE FOR BANKRUPTCY BUT I WANT TO MODIFY MY HOME LOAN"

Many homeowners who are considering filing bankruptcy wonder if filing will prevent them from modifying their mortgage loan. Many potential clients contact our office and complain about being stuck in limbo while working with their lender to modify their home loans. These potential clients are in a constant state of worry as they undergo a lengthy and cumbersome approval process while facing the looming threat of foreclosure every month. These clients want relief from the threat of foreclosure during the loan modification approval process and that is exactly what Chapter 13 bankruptcy can provide. A Chapter 13 bankruptcy client can continue the modification process after filing and eliminate the risk of foreclosure should the application for loan modification be denied. Also, an additional benefit of Chapter 13 bankruptcy is that it can assist with eliminating other debts so that one can devote more financial resources to making timely mortgage payments and successfully getting one's home loan back on track. If you would like more information concerning bankruptcy and home loan modification options, contact Douglas County Bankruptcy Lawyers at (770) 485-6620.