Tag: filing bankruptcy

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Facing foreclosure, should I consider bankruptcy?

Yes. Why? Because the longer you wait to file bankruptcy, the more difficult it may be to save your home. But the bank might modify my mortgage. Sure, but what if the bank doesn’t modify your mortgage. While you wait for a potential loan modification – your mortgage arrears and the interest are piling up. […]


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Stop paying my second mortgage?

Can you stop paying your second mortgage? Sure. Should you stop paying your second mortgage? Maybe not. The prevailing theory is that if your home is worth less than what you owe on your 1st mortgage it is highly unlikely that the holder of your 2nd mortgage will bring a foreclosure action against you. Well, […]


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Filing Bankruptcy To Save Your Home From Foreclosure

Filing Bankruptcy to Save Your Home:  CHAPTER 7 Bankruptcy Will filing a chapter 7 bankruptcy save my home from foreclosure? Probably not. If you are facing foreclosure you have likely missed a few mortgage payments. Chapter 7 does not allow you to make up your missed payments over time. However, the “automatic stay” may delay […]


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