Wooster Avoid Foreclosure Attorneys
One of the scariest things people in debt face is the potential of losing their home. If your bank is threatening foreclosure, you may feel like your only option is to let it happen and start looking for a place to stay. It does not have to be this way; a knowledgeable bankruptcy lawyer can help you find a better way.
At Thrush & Rohr LLC in Wooster, Ohio, we have more than 40 years of bankruptcy experience in the Canton area. To discuss how bankruptcy can help you prevent a foreclosure on your home, contact us.
How Do I Save My House?
This is one of the most common questions that our clients have when they meet with us. In most cases, filing Chapter 13 bankruptcy is the best way to save a house from foreclosure. Along with other unsecured debts, such as credit card debt and medical debt, your mortgage and arrearage will become part of your payment plan, which lasts between three and five years. Once your payment plan is complete, your remaining debts will be discharged, providing you with a fresh start.
Stripping a Second Mortgage
If your first mortgage is higher than the value of your primary home, we will be able to strip away your second mortgage as part of your Chapter 13 plan. This is extremely beneficial to homeowners who took out a second mortgage to stave off debt and are now looking at 15 more years of payments on mortgages well in excess of their property value.
The Automatic Stay Also Prevents Lawsuits
In addition to staving off foreclosure, Chapter 13 can also prevent lawsuits and judgments against you while you go through the bankruptcy process. The automatic stay, as in a Chapter 7, will also put an immediate stop to creditor harassment and threats of wage garnishment.
Free Consultations — Contact Our Firm
To learn more about how we can help you prevent foreclosure using bankruptcy or possibly loan modification, contact us today.
