With the recent downturn in the economy, millions of people have lost their home to foreclosure. If you are at risk of losing your home to foreclosure, bankruptcy and other debt relief services may provide a solution.
To learn about options that may be available to you, contact the Law Office of Robert C. Nisenson, L.L.C., in East Brunswick, New Jersey. There are a variety of ways that we may be able to help you stop a home foreclosure. Each case at our firm is personally managed by attorney Robert C. Nisenson, a knowledgeable bankruptcy and debt relief lawyer with more than 25 years of legal experience.
Avoiding Home Foreclosure With Chapter 13 Bankruptcy
Even if you are behind on your payments to your home mortgage lender, Chapter 13 bankruptcy may provide the relief you need. With a Chapter 13 bankruptcy, you may repay any past-due mortgage debt gradually over the course of a three- to five-year Chapter 13 debt repayment plan. To be eligible for a Chapter 13 bankruptcy, you must have a regular source of income that will allow you to make monthly payments toward your Chapter 13 plan.
Chapter 13 bankruptcy has additional benefits that may provide critical debt relief:
- While you must repay secured debts for property you wish to keep (e.g., your home or car), unsecured debts are treated in a different fashion. With your Chapter 13 plan, you are required to pay only what you can afford to pay (as determined by the bankruptcy court) toward unsecured debts. Any amount of your unsecured debt that you show you are unable to pay, and which are dischargeable under the U.S. Bankruptcy Code, may be discharged upon completion of your Chapter 13 plan.
- You may be able to strip a second mortgage lien if the value of your home is less than what you owe on your original home loan. The second home loan may then be treated as an unsecured debt and may potentially be discharged as part of your Chapter 13 bankruptcy.
Let us put our experience to work for you. We have helped thousands of clients who were facing difficult debt problems. If bankruptcy is not right for you, we may be able to provide relief through a loan modification, short sale or other debt relief measure.
Contact A Middlesex County Home Foreclosure Attorney
From our office in East Brunswick, we serve clients throughout central New Jersey. We offer free consultations. Weekend and evening appointments are available. To schedule your consultation with East Brunswick home foreclosure lawyer Robert C. Nisenson, call 732-518-8038 or toll free at 800-645-9625. You may also contact us by email.