CNNMoney.com had an article yesterday that talked about potentially using bankruptcy to save your house from foreclosure.
In the article they mention that Chapter 13 bankruptcy was the way to go to accomplish this, with one caveat, “It’s the best tool there is for people behind in payments but who have ongoing income,those who had been making payments and who could be making payments again.”
Chapter 7, which is over 80% of bankruptcies, will delay the foreclosure…but often not save your home.
It’s an interesting read and I recommend taking a minute to have a look.
The bottom line is, it’s difficult for you to know the answers from reading an article. But at least you know what questions to ask.
And I’d be more than happy to answer them and review your own personal situation.
Please call me for a complementary session. I’ll buy you a coffee.
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