A mortgage on its own cannot be wiped away in a bankruptcy. Simply put, if you want to keep your house, you have to continue to make regular payments. A bankruptcy filing can stop foreclosure on your home and help get you caught up. However, it does not give you the chance to get your house for free.
At Reed Law Firm, P.A., our foreclosure defense attorneys help South Carolina residents facing difficulties in their mortgage payments and find solutions to a roof over their head.
Far too much is at stake to ignore problems in paying your mortgage. It could cost you your family home. Call our Columbia-based firm at 803-807-2565 or our Florence law office at 843-536-0073 today.
Your Options for Mortgage Modification
Programs do exist for mortgage workouts. However, a fast and effective way to bring a bank to the negotiation table is through the filing of a Chapter 13 bankruptcy. That also puts an immediate stop to any foreclosure actions. That legal action not only asserts your rights, but also provides many options, including:
- Catching up on missed payments
- Having remaining balances of second or third mortgages discharged
- In some cases, reamortizing first mortgages to make future payments more affordable
Contact Us
For more information or to schedule an appointment with an experienced lawyer regarding a mortgage modification as part of a bankruptcy, please contact us.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
Recent Blog Posts
Seeking relief from the trials of debt before retirement
There may be numerous factors to address while preparing for retirement, and you might spend decades planning and saving for this stage of life. While you may feel it vital to approach the golden years of your life with stable finances and limited monetary...
What to think about before filing for bankruptcy
Dealing with credit card debts can be an extremely painful experience, and you may feel that the only way you can escape the constant pressure of debt is by filing for bankruptcy. While bankruptcy can be a great way to help you gain a fresh financial start, there are...
What does the promise of student loan forgiveness for vets mean?
Last week, President Trump signed a directive to the Department of Education ordering it to “eliminate every penny of federal student loan debt” for American vets who are totally and permanently disabled. This could be a great relief to disabled vets who have been...