San Diego Foreclosure Attorney
Stop a Foreclosure by Reorganizing Payments
If you’re facing foreclosure, or are too far behind on house payments, it may be time to file for Chapter 13 bankruptcy. By reorganizing your current debt payments, you can lower your monthly payments to amounts you can afford. The San Diego foreclosure attorneys at the Law Offices of Mark L. Miller have helped thousands of clients file for Chapter 13 relief. Our experience dealing with creditors, banks, and bankruptcy courts gives us the understanding to help our clients obtain relief.
Make House Payments Affordable Again
When housing prices drop, payments stay the same, leaving you paying on a home that isn’t worth the price. When it becomes unaffordable, like after job loss or a disability, the situation can become unbearable. Bankruptcy is an effective tool for financially distressed homeowners.
Filing for Chapter 13 bankruptcy provides some instant relief, including:
- Forcing lenders to stop any foreclosure sale of your home
- No more phone calls from debt collectors
- Lower, more affordable monthly payments
- Possible elimination of a second mortgage
How to Get Rid of a Second Mortgage
If you are considering walking away from your home because you do not have any equity in the property, this might be your chance to keep your home and rebuild equity. Home values have been dropping in the San Diego area for several years. If your home is currently worth less than you owe on your first mortgage, you may be able to eliminate your second mortgage (and third if you have one) through Chapter 13.