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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I havent made a payment due to hardship for 8 months now.

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I havent made a payment due to hardship for 8 months now. I have been working with my bank for the past 2 months but they have been unwilling to offer a workable solution and my home goes up for sale on the 28th of this month and I want to keep my home. My previous payment was $980 and the bank is offering a 12 month repayment of $1855 to make me current which I think is rediculous. I am in hardship. Is there anyway to stall the foreclosure? Is there any other program that would work for me.

Absent a voluntary forbearance by the lender, a Chapter 13 bankruptcy is the only alternative.

A Chapter 13 bankruptcy would immediately stop the foreclosure action. It could permit you to set up a plan to reinstate your mortgage arrearages. In other words, it could allow you to pay the arrearage over a 5 year period.

It would be best to retain an attorney. If you cannot, you will want to purchase the forms on line and file them yourself prior to the sale. After you file the petition, you will need to notify the plaintiff.

I hope that the information which I provided was helpful to you.

Best wishes for a successful outcome. If you have additional questions, please do not hesitate to submit them to me directly.

Thank you,

Ellen and 3 other Bankruptcy Law Specialists are ready to help you