Chapter 7 can help buy time to deal with some creditors or negotiate with others, which may help you keep your home.
Bankruptcy gives you protection from your HOA. Chapter 7 may be enough, but Chapter 13 buys much more time.
Bankruptcy can help if you are facing a property tax foreclosure — Chapter 7 by getting rid of other debts, Chapter 13 by buying you lots more time.
Chapter 13 can be an advantageous way to protect excess home equity that is above your homestead exemption.
Protecting current home equity is a sensible focus when considering bankruptcy. Protecting potential equity can be critical.
You can protect the equity in your home if the amount of equity is no more than the homestead exemption applicable to residents of your state.
Here are 6 ways filing a Chapter 7 case can help you deal with your home lender and related debts, and 6 ways filing a Chapter 13 one can.
If you are behind on your mortgage, and are thinking of selling your home, you can often delay selling for many months or even for years.
Filing a Chapter 13 case buys you time and flexibility for catching up on your mortgage arrearage. Lots more of both than in 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.
As you decide whether to use the powerful tools of Chapter 13 to hold onto your home, it helps to know that you can later change your mind.
If your home is exposed to your creditors and to the Chapter 7 trustee because it has too much equity, Chapter 13 can protect that equity.
If your home is at risk because you have more equity than the amount of the homestead exemption, Chapter 7 might still save your home.
If you are behind on your mortgage and want to sell, you may be able to delay the home sale for years and pay the arrearage out of the sale.
These 10 tools, especially used in combination, can defeat your mortgage debt and other home-based challenges.