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Is Saving Your Home Your No. 1 Goal?

You may have thought of your house as your most stable investment for a lifetime. Now, for reasons out of your control, you may face the prospect of having to sell your house or being evicted. Common reasons people lose their homes in financial hard times include:

  • Divorce means only one income, rather than two, will support the household.
  • One or both homeowners have lost a job or experienced a downturn in self-employment income.
  • One or both homeowners have experienced a health crisis such as a cancer diagnosis. Medical bills combined with lost wages put mortgage payments out of reach.
  • The housing market in your neighborhood may have gone downhill and you find yourself upside down in the mortgage — owing more than what anyone will pay for it.
  • A home repair disaster — such as a collapsed roof, a flooded basement or damage from a house fire — is beyond what you can pay for.

You are not alone if you are struggling to save your home, although it seemed affordable when you purchased it. A debt relief lawyer can help you explore your options.

To Maximize Your Options For Saving Your Home, Consult With A Debt Relief Attorney Without Delay

Whatever the circumstances in your case, you are now behind on the mortgage and you see foreclosure as a real possibility. The idea of losing your home to foreclosure is naturally frightening and disorienting. Time is of the essence and you need answers quickly. This is not a good time to do your own research, take the advice of well-meaning family and friends, or weigh your options for long. You need professional advice right away.

A free initial consultation with a bankruptcy attorney may be your best at a time when keeping your home feels harder and harder to do. You may be surprised at how effective filing Chapter 13 bankruptcy can be even if you are far behind on mortgage payments.

Perhaps you are up-to-date on your mortgage payments but other debts are threatening your ability to stay current on your home loan. Depending on how much equity you have in your home, a Chapter 7 bankruptcy may resolve your debt burdens, freeing up discretionary income each month to go toward your house payment.

What If You Want To Let Your House — And The Mortgage — Go?

Bankruptcy may be an efficient way to release yourself from further obligation if you have decided you want out of your house and out of the mortgage. Who knows? You may be able to rent another similar house nearby — or be free to move to a more affordable community — once your overall debt burden has been lessened or removed through bankruptcy.

Talk to me, bankruptcy lawyer April Perry Randle, in Cleveland, Tennessee (TN), about ways to save your home and how to decide the right course of action. My mission is to help people burdened by debt find solutions. To schedule a consultation, call 423-464-6908 or send an email inquiry through this website.

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