Under current bankruptcy law, a debtor may not change the existing terms of their home mortgage loan. Under certain circumstances, you might be able to change the status of your second mortgage under the current bankruptcy law. This requires a careful analysis by a bankruptcy attorney to determine whether it's possible. Our experienced attorney can help you.
While we can't force a lender to alter your mortgage, we can help you to pause foreclosure activity. By filing Chapter 13, you can freeze all legal action against you. During this bankruptcy process, you may be able to work with your mortgage lender to restructure your loan to make it more affordable to you.
To find out if bankruptcy can help you save your home, come in to see us. Recently, the U.S. Attorney General announced that the Federal Government and 49 states have reached a settlement agreement with some of the largest mortgage lenders to address mortgage servicing, foreclosure, and bankruptcy abuses. You might qualify for this assistance. In order to find out more information on this process, you should visit the www.nationalmortgagesettlement.com.
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