Save Your Home With Our Help
You've worked hard to get a home of your own, but sometimes unexpected circumstances leave you unable to pay your mortgage. Maybe you've lost your job, someone in your family has become ill, or you are in the midst of a divorce.
At Walton Legal Services in Indianapolis and Columbus, Indiana, our attorneys may be able to help you stop the process of foreclosure and a sheriff's sale so you can keep your home. Contact us to speak with a knowledgeable lawyer about the benefits of bankruptcy for homeowners in mortgage trouble.
Stop Foreclosure With Chapter 13
Mortgage companies have created an economic crisis by offering exploitative mortgage plans such as the following:
- Interest-only mortgages
- Five-year ARMs and 10-year ARMs (adjustable rate mortgages)
- Other mortgages with flexible rates that are not locked in
- Balloon payment mortgages
Many people are finding themselves unable to make payments or pay their balances on these mortgages and are facing foreclosure. If you are behind on mortgage payments, Chapter 13 bankruptcy may enable you to stop foreclosure and save your home.
Under Chapter 13, foreclosure and sheriff's sales will immediately be stopped once you file. After filing your Chapter 13 bankruptcy case, you will have to start making your regular monthly mortgage payments again, but your back payments will be dealt with by the bankruptcy trustee through a separate payment you make to the trustee that we will help arrange for you.
If you need legal help to stop foreclosure, contact us at Walton Legal Services today.
Get Time to Catch up Under Chapter 7If Chapter 13 bankruptcy is not right for you, Chapter 7 bankruptcy can help you temporarily stop foreclosure. Under a normal Chapter 7 procedure, you have three to six months to get your affairs in order and discharge your other debts before you have to get back on track with rent or other housing expenses. In addition, if your home has already been sold in a regular sale or sheriff's sale but you still owe the bank a balance on your mortgage loan, this balance can be discharged in Chapter 7 bankruptcy. |
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
