For homeowners, one of the most difficult things to go through is facing losing a home. Working to diligently make payments only to fall behind and have the bank take the home away can be devastating. Those homeowners who are facing the possibility of their home going through foreclosure in Casa Grande, AZ need to be aware of their rights and do all they can to prevent losing their home. Foreclosure prevention begins with homeowners contacting an attorney to learn about their options.
When a foreclosure is imminent, an attorney can contact the mortgage holder to see if any arrangements can be successfully made. Having an attorney involved can sometimes encourage a mortgage holder to make payment arrangements that allow the homeowner to come current. Should the mortgage holder deny the attempts of the attorney, there is another viable option.
An attorney can offer a client help through chapter 13 bankruptcy. This form of bankruptcy allows a person to avoid foreclosure in Casa Grande, AZ. Chapter 13 stops the foreclosure process, along with any other collection attempts. It gives the homeowner time to pay down their debts and catch up with their mortgage payments, so they are current. Most homeowners are given two to five years to catch up on their payments. With a lowered payment made through the court, homeowners have the opportunity to get back on their feet and secure a brighter financial future for themselves and their families.
To be approved for chapter 13 bankruptcy, a person needs to first meet with their attorney and bring in the information on all of the debts they owe and their monthly income. The court will grant bankruptcy to a person as long as they can make scheduled monthly payments to pay down their debts. During the bankruptcy period, collectors cannot pursue the person in any way and must stop all forms of communication and debt collection activity.
Learning more about bankruptcy will allow a person to decide whether or not chapter 13 is a beneficial option. Homeowners can learn more when they browse the site at Azdebtfree.com. Scheduling a consultation appointment with Asheton B. Call will allow people to learn if they are a good candidate for this type of bankruptcy.
