Stop Home Foreclosure

Union County Bankruptcy Lawyer | Cranford Mortgage Debt Attorney

Are you behind on your home mortgage? Are you at risk of losing your home to foreclosure? You are not alone. With our nation's recent economic struggles, millions of Americans have lost their home to foreclosure or face the immediate threat of foreclosure.

If you are struggling with debt and are at risk of losing your home, do not give up hope. Even if you are several months behind on your home mortgage and the bank has started the process of home foreclosure, you may be able to save your home by filing for bankruptcy.

To learn more about bankruptcy and your rights, contact me, attorney Benjamin J. Ginter. I have represented thousands of clients in bankruptcy cases, so you can be confident that I will provide the sound advice you need. If you choose to retain me to handle your bankruptcy case, I will work diligently to protect your rights. For assistance, e-mail my law office in Cranford, New Jersey.

How Can Chapter 13 Bankruptcy Help?

If you have a regular source of income, you may qualify for a Chapter 13 bankruptcy. With a Chapter 13 bankruptcy, you would pay back your mortgage arrears gradually over a three- to five-year debt repayment plan. From the moment I file your bankruptcy petition with the court, an automatic stay goes into effect that puts a halt to most forms of creditor collection efforts, including home foreclosure.

Millions of people have saved their home with a Chapter 13 bankruptcy. Contact me today to see if Chapter 13 bankruptcy is right for you.

Second Mortgage Lien Stripping With Chapter 13 Bankruptcy

One little known fact about Chapter 13 bankruptcy is that it may allow you to strip a second mortgage lien. If the remaining debt on your first mortgage is more than the value of your home, you may be able to strip the second mortgage lien. The debt from your second mortgage would then be treated like other unsecured debts and could possibly be discharged.

How Can Chapter 7 Bankruptcy Help?

In some cases, my clients do not have a steady source of income and do not qualify for a Chapter 13 bankruptcy. In this situation, a Chapter 7 bankruptcy may be necessary to discharge debt that may accrue from a foreclosure sale deficiency.

If the bank takes your home through foreclosure and then sells it as a foreclosure home, the sale price of the home may be less than the remaining debt you owe on your home mortgage. In that situation, the bank may come after you to pay the difference if you have not reached an agreement with the bank to forgive the remaining debt. Through a Chapter 7 bankruptcy, however, you can discharge a foreclosure sale deficiency.

Schedule Your Free and Informative Consultation

There are other ways that a Chapter 13 or Chapter 7 bankruptcy may provide critical relief for you and your family. I offer a free and informative consultation at which I will answer your questions and help you determine your best course of action. For help, call me today at 908-418-4084 or contact me by e-mail.