Are you behind on your mortgage? Are you afraid that your mortgage lender is going to begin foreclosure proceedings on your property? If so, you need to contact a California bankruptcy firm to help you save your home or real property. An Oakland bankruptcy attorney is knowledgeable and can help you. Your first consultation is often free. Be prepared to discuss your current financial situation, how much debt load you have, and your financial goals for the future. Your attorney will be your advocate in protecting your assets and reducing or eliminating your debt. In California, filing for a Chapter 13 bankruptcy will save your home if it is going into foreclosure. Immediately, when you file, your mortgage lender had to stop foreclosure proceedings. However, you must remember, there is a time frame which you are required to work under. You can’t wait forever to file and expect to stop foreclosure. The deadline in some states is the 10th day after the foreclosure sale. That means if you wait until the eleventh day, it is too late. The deadline limitations for stopping foreclosure are a matter of state law. Check the rules for the state where you reside and follow them explicitly. A visit with a licensed attorney would be the best option. Obviously, you wouldn’t want to discuss this with your mortgage lender. After Chapter 13 bankruptcy is filed, you will continue paying your regular monthly mortgage payments. The payments you are behind on must be paid. The good news is, generally you can spread those payments over many months. You can often spread your Concord bankruptcy payments over the duration of your Chapter 13 plan which is usually anywhere from three to five years. Filing for bankruptcy and saving your home is contingent upon your being able to pay for your property after filing. If you are up-to-date on your mortgage now, can you continue to stay up-to-date? Discuss these issues with your attorney as soon as possible. Lincoln Law is a Concord bankruptcy. (http://www.lincolnlaw.com)
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