Are you struggling to pay the payments on your home loan? \u00a0Has your mortgage lender threatened to file or has filed a foreclosure action? \u00a0Are you worried that you will lose your home and your family will have no place to live? \u00a0If so, filing a Chapter 13 bankruptcy case<\/a> may help you keep your home and resolve your financial problems.<\/span><\/p>\n If you are behind on your home loan payments, you can catch up on those payments through a Chapter 13 bankruptcy plan. \u00a0In some cases, you may even be able to get rid of a second home loan if you meet the requirements to value the loan at zero.<\/span><\/p>\n When you file a Chapter 13 bankruptcy case, creditors must stop all collection efforts including foreclosures, repossessions, wage garnishments, and collection lawsuits. \u00a0This gives the debtor an opportunity to propose a plan to reorganize his or her debts without creditors harassing the debtor for payment. It also protects the debtor\u2019s property from creditors while the debtor works to get back on his or her feet financially. \u00a0<\/span><\/p>\n If you are behind on your payments for your home loan, the arrearage is included in your bankruptcy plan to be paid over several months or years (depending on the plan and the amount you owe in past due payments) without interest. You resume your regular monthly home loan payments outside of the plan and keep your home.<\/span><\/p>\nCatching Up Past Due Home Loan Payments in a Chapter 13 Bankruptcy Plan<\/h2>\n
Second Mortgages in Chapter 13 Bankruptcy<\/h2>\n