You should never think it is too late to save your home. When you become several months behind on your mortgage payments, most lenders will no longer accept mortgage payments. Even if the lender is no longer accepting your mortgage payments, you may still be attempting to modify your mortgage loan and are actively working with your lender for a modifications. Many people accuse lenders of lulling people into a false sense of security only to tell them days before a foreclosure sale that their modification application was denied. You should know that once a foreclosure action has been started, unless you have an attorney defending you in the foreclosure case, the foreclosure process is still probably going forward. Filing for Chapter 13 bankruptcy stops a foreclosure action in its tracks. Essentially, it compels your lender to accept your mortgage payments and mortgage arrears over time. In Chapter 13, the Court's expectation of you is to pay your mortgage and plan payments going forward on time and in the correct amount. By making these "post-petition" payments to your mortgage company after you file for Chapter 13 bankruptcy on time and in the correct amounts, you show your good faith to the bankruptcy court. A showing of good faith demonstrates to the Court that you deserve the protection that bankruptcy affords you and makes it more likely that the Court will confirm a reasonable payment plan that you propose.

The process of stopping foreclosure is faster, more efficient and more reasonably priced than you may think. Contact my office today to discuss your situation with an experienced, knowledgeable and dedicated bankruptcy lawyer.