Can Chapter 13 Bankruptcy Help Save My Home from Foreclosure
Can a Chapter 13 Bankruptcy Save My Home from Foreclosures? If your bank sent you a notice of impending foreclosure, you may still be able to keep your house by declaring Chapter 13 bankruptcy—as long as you can fulfill the criteria for a conformable repayment plan. Chapter 13 bankruptcy in Montgomery can halt a foreclosure while giving you some time to correct a mortgage default.
The bank cannot immediately sell your home just because you received a notice of foreclosure. Each state has its own laws outlining the steps a lender must take in order to foreclose on a property. When you call a local Millbrook bankruptcy attorney, they can explain the process.
In some areas, the process known as judicial foreclosure necessitates that lenders file a complaint in state court before they may foreclose on your home. Others enable a lender to foreclose a loan outside of court