Stop Foreclosure: Chapter 13

Chapter 13 immediately stops any foreclosure proceedings and allows you to consolidate all your debts into one low monthly payment that is tailored to your budget.  Any arrears on real estate will be cured and included in that Chapter 13 payment.  Lenders are unable to foreclose as long as you make your payments.

While Chapter 13 is technically a Bankruptcy, it is viewed differently from Chapter 7 which is a “straight bankruptcy” and eliminates all debt without any payment whatsoever.  By curing the arrears over 3-5 years, your mortgage is legally reinstated by a Federal Court Order and you continue to make your normal mortgage payments.  The lender is under strict scrutiny to comply and account under the Court Order.  After you complete your Chapter 13 payment plan, your mortgage is cured and reflected in good standing.

For example, if you are $9,000 in arrears on your mortgage and your monthly mortgage payment is $3,000, your Chapter 13 payment would approximately be $165 per month plus Trustee fees(10 percent) (60 months x $150 =$9,000 plus 10% Trustee fees).  The new total monthly house payment would be $3,165.  Thus, Chapter 13 eliminates foreclosure, results in a more realistic repayment plan, can eliminate all your other debt, and allows you to maintain all your rights under TILA, RESPA, HOEPA, FDCPA, FCRA, etc.

Call or Text (760) 450-3333 or Email to schedule your FREE PHONE CONSULTATION with a Bankruptcy Attorney. Hablamos Espanol.

At Doan Law our Bankruptcy Attorneys will answer all your Chapter 7 Bankruptcy and Chapter 13 Bankruptcy questions.  Doan Law Firm is California’s Largest Family of Attorneys, Specializing in Bankruptcy and Non-Bankruptcy Alternatives.