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I frequently hear clients say they were told not to pay their mortgage for 3 months so they can apply for a mortgage modification.  Then, after submitting all of the paperwork, the modification is denied.  Or, they're put into a trial period, all the while believing that their mortgage continues to be modified.  Then they really are surprised to be served by the Sheriff with foreclosure documents.  They're rightfully scared, confused and hopeless.  They would not have asked for a modification if they could afford their mortgage in the 1st place and now the bank is telling them to pay a minimum of those three months which was not paid so that they can apply for the modification or be faced with the prospect of losing their home.

Sometimes, rather than endlessly arguing with the bank, homeowners benefit from meeting with a lawyer knowledgeable about the mortgage modification process or an experienced bankrutpcy lawyer.  Most people asked for help with a mortgage modification from their bank hoping to avoid filing for bankruptcy.  Some people imagine that when they file for bankruptcy, they will be forced to sell or lose their home.  This is frequently not the case.  Filing for bankruptcy can sometimes be the only option to save your home.  In order to find out if bankruptcy can help you, you may want to talk to a local bankruptcy lawyer.  If you're considering filing for bankruptcy in order to protect your home, please don't wait until the sale date is scheduled.  The bank may have dragged their feet with respect to your modification, but time is essential and the sooner you speak to a bankruptcy lawyer, the more options might be available to save your home.

A chapter 13 bankruptcy is the primary chapter of bankruptcy used to prevent a mortgage foreclosure.    There are very few requirements to qualify to file for a chapter 13 bankruptcy.  A chapter 13 bankruptcy will allow you to repay your late mortgage amounts over a time period as opposed to immediately, like the bank wants.  

Only a licensed attorney can provide a homeowner legal advise regarding their situation.  There are lots of ways to locate a qualified lawyer.   For example The National Association of Consumer Bankruptcy Attorneys is often a helpful resource in helping distressed homeowners find a qualified lawyer who is experienced in both mortgage modification issues and the advantages of filing for bankrutpcy protection as it relates to stopping foreclosure proceedings.  

Jane L. Weatherly, Attorney at Law, PLLC is a bankruptcy law firm located in Raleigh, Wake County, North Carolina,  The firm is a debt relief agency and assists consumers file for protection under the United States Bankruptcy Code.  For more information, please call (919)758-9296 or visit [http://EDNCBankruptcy.com http://EDNCBankruptcy.com].