Home Bankruptcy Sacramento

A common reason to declare bankruptcy is to seek help with past-due mortgage payments. There is one specific type of bankruptcy that can help in this situation. Read on to learn more about Home Bankruptcy in Sacramento.

If you have fallen behind on your mortgage payments, it can be difficult to get caught up again. The combination of interest, late fees, and keeping up with your normal bills can often be difficult to surmount. Mortgage lenders are better than they used to be about options to keep you in your home, but they aren’t always willing to work with you.

The good news is that a Chapter 13 bankruptcy will keep you in your home. You won’t have to worry about foreclosure for the life of the bankruptcy case. And you will be given an opportunity to repay your past-due mortgage payments over 3 or 5 years.

Spreading out your past-due mortgage payments over 3 or 5 years will make the payments very manageable. Most mortgage companies want you to cure the mortgage arrears in a lump-sum payment. This is not usually possible for most regular people.

Chapter 13 will give you breathing room to get your mortgage caught up. This way, you won’t have constantly worry about foreclosure. Chapter 13 will also help you reorganize your other debts such as credit cards, medical bills, and even taxes.

If you are having trouble repaying past-due mortgage payments, please call my office at (916) 333-2222 to discuss whether Chapter 13 bankruptcy is right for you.