Keep Your Massachusetts or Connecticut Home. Call an Experienced Bankruptcy Law Firm

Your mortgage company may be threatening to foreclose on your home mortgage. Maybe the foreclosure process has begun. Maybe plummeting property values have affected the value of your home. It may not be too late to keep your home. Bankruptcy is one way to forestall or even prevent foreclosure.

An experienced bankruptcy law firm can clearly explain your legal options and help you understand what your next best step is. Our attorneys at Morrison Rousseau LLP practice in the area of foreclosure defense and bankruptcy. We are committed to providing debt relief solutions to individuals and families in Worcester and the surrounding areas.

Learn how you can benefit from our extensive experience in solving challenging mortgage problems.

Exercise your options. Call 866.496.0337. Contact us online.

Will Filing a Chapter 13 Bankruptcy Protect My Home From Foreclosure?

Chapter 13 bankruptcy helps many people keep their homes out of foreclosure, or at least gives them a little time to figure out a way to pay their mortgage payments. The moment you file for bankruptcy all foreclosure and creditor actions to collect debt must cease until the bankruptcy is resolved. This is called an automatic stay. This buys you the time to determine a course of action that will lead you back to financial stability.

The next step is to work to create a manageable repayment plan that both you and your creditors can agree upon. In a Chapter 13 bankruptcy, you will have the chance to repay your secured debt, which includes your mortgage, and any arrears. Even if you are up to four months behind in your mortgage payments, a Chapter 13 repayment plan can fold those mortgage payments into a three to five year repayment plan.

My Home Value Has Dropped and Is Worth Less Than What I Owe The Bank.

Another common problem people face in today's volatile housing market is upside-down mortgages. This occurs when your property values have dropped to the point that the value of your home is less than what you owe your mortgage company, the lender may seek to foreclose upon your home mortgage. At Morrison Rousseau LLP, our experienced foreclosure defense lawyers are committed to helping you negotiate an agreement with your mortgage lender, including a short sale of your home. A short sale is when a homeowner owes more than the house is worth. It is possible for our firm to obtain a forgiveness of the balance due depending on your specific situation.

We understand that many legislative changes are emerging to address the current housing crisis. We stay abreast of emerging legislation that may affect your mortgage situation and guide you accordingly. We can seek to protect you from potential tax liability regarding the forgiveness of a debt of deficiency.

Don’t Let Your Debt Ruin Your Life.

Regain control of your finances. Reach us online or call 866.496.0337 or 508.471.3012 for a free initial consultation.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.