Chapter 13 prior to Mortgage and Property Tax Foreclosure
Chapter 13 stops both mortgage and property tax foreclosures. Then you have up to 5 years to catch up on the property taxes.
The Automatic Stay in Chapter 7 and 13
Filing a Chapter 7 or 13 case both stop creditor collection actions against you just the same. But after that the differences are huge.
Buy Time for Your Home with Chapter 7
Filing a Chapter 7 bankruptcy case stops a foreclosure and buys some time to either arrange to keep the home or move in a peaceful way.
Catching up on Your Mortgage on Your Terms
If you've fallen behind on your mortgage, it's very hard to catch up. It may even seem impossible. Chapter 13 makes it possible.
Chapter 13 Buys Time
Chapter 13 is very different from Chapter 7 "straight bankruptcy." It buys you time to deal effectively with your special debts.
An Example of Surrendering Your Home Later in a Chapter 13 Case
Here's an example of how Chapter 13 can allow you to hold onto your home but then change your mind about it later.
Catching Up on Your Property Taxes through Chapter 13
If you are behind on property taxes on your home, Chapter 7 often doesn't give you enough time to catch up. But Chapter 13 likely would.
Keeping Your Home through Chapter 13
Chapter 13 gives you much more time to catch up on your unpaid mortgage payments. That can be reason enough choose this option.
A Fresh Start with a Forbearance Agreement
Whether you're about to fall behind on your mortgage or have already done so, a forbearance agreement avoids foreclosure while you catch up.
Chapter 7 and Chapter 13–Resolving Your Property Tax Debt
Bankruptcy helps with your property taxes either by writing off your other debts or by buying you more time to catch up.
Mistakes to Avoid–Selling Your Home under Pressure instead of Waiting until a Better Time
Bankruptcy can buy you a few more months or even several years, so you can sell your home when you're financially and personally ready.
Mistakes to Avoid–Prevent Judgment Liens against Your Home
Don't let a creditor get a judgment against you. File a bankruptcy case before that can happen.
Big Mistakes to Avoid When Considering Bankruptcy
Decisions that seem to make sense at the time can end up being against your best interest. Hereâs what to look out for.
Making Sense of Bankruptcy: Protecting Your Home from Foreclosure with the “Automatic Stay”
Either Chapter 7 or 13 will stop a foreclosure, even if your lender unintentionally or purposely proceeds with the foreclosure sale.
Making Sense of Bankruptcy: 5 More Powerful Ways Chapter 13 Saves Your Home
Here are 5 additional tools that come with Chapter 13, each one neatly solving a different challenge to your home.