Are you behind on your mortgage payments? Are you afraid that your bank is going to begin foreclosure proceedings on your property? If so, you need to contact a North Carolina bankruptcy lawyer to help you save your home or real estate. A North Carolina bankruptcy lawyer is very knowledgeable and will help you work around your mortgage problems. Your first consultation is free. Be prepared to discuss your financial situation, how much debt you have, and your financial goals for the future. When hired, your attorney will be your advocate in protecting your assets and reducing or eliminating your debt. In North Carolina, filing for a Chapter 13 bankruptcy will save your home if it is going into foreclosure. Immediately after you file, your mortgage lender must stop foreclosure proceedings. However, there are time limits which you are required to work under. You can’t wait forever to file and then expect to stop foreclosure. The deadline in North Carolina is the 10th day after the foreclosure sale. If you wait until the eleventh day, it is too late. The deadline limitations for stopping foreclosure are state law. If you are a resident of another state, check the rules for the state where you reside and follow them explicitly. A consultation with a licensed attorney would be the best option. Obviously, you wouldn’t want to discuss this with your bank. After Chapter 13 bankruptcy is filed, you will continue paying your regular mortgage payments. Your past due payments must be paid. The good news is, generally you can spread those payments over more time, thus allowing more breathing room for repayment. In North Carolina, you can spread those payments over the duration of your Chapter 13 plan which is usually anywhere from thirty-six to sixty months. 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 at the present time, can you continue to stay up-to-date? Discuss these issues with your attorney as soon as possible. John T Orcutt Law Offices is a North Carolina Bankruptcy Lawyer. For more info visit http://www.billsbills.com.
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