Stop Mortgage Foreclosure with Chapter 13 Bankruptcy

You can stop your mortgage foreclosure by filing a Chapter 13 bankruptcy under most circumstances.  Chapter 13 will give you an opportunity to apply for a mortgage modification while under the protection of the Bankruptcy Court.

A Chapter 13 bankruptcy must be filed before the foreclosure sale takes place if desire to save your real property. Under chapter 13 you are required to present a plan of reorganization.

Mortgage Modification

In Chapter 13  you are able to use the Bankruptcy Court's new "LMM" program - Loss Mitigation Mediation. You and the mortgage company are able to communicate over a special internet portal so documents do not get lost.

Wipe Out "Under-Water" Second Mortgages

Under Chapter 13 bankruptcy, you can avoid or wipe-out your second mortgage if it is wholly "under-water."