When you're struggling to meet your financial obligations, one of the first debts that can get away from you is your mortgage. Unfortunately, it won't take long before you find yourself involved in foreclosure proceedings. Perhaps there's light at the end of the tunnel—you can see that your financial situation will improve dramatically in the near … [Read more...]
How to Keep Your Home through Chapter 7
May 22, 2016 by Leave a Comment
Whether you can keep your home when filing a Chapter 7 case mostly depends on the answers to two questions: Are you current or close to current on your mortgage and other debts on your home, and Is the equity in your home protected by your "homestead exemption"? Let's focus today on your mortgage. If You Are Current on Your … [Read more...]
How Chapter 7 Actually Works When Keeping Your Home
October 20, 2015 by Leave a Comment
If Current on All of Your Home Obligations A Chapter 7 “straight bankruptcy” is generally designed for more straightforward debt situations, including involving debts on your home. If you are current on all obligations secured by your home, and you intend to keep the home and keep up on your mortgage payments, your home and your mortgage will very … [Read more...]
Three More Good Reasons to Get Bankruptcy Advice Before Selling Your Home
July 24, 2014 by Leave a Comment
Get advice if 1) you can’t afford your house payments, 2) it has an income tax lien, or 3) your mortgage modification was rejected. The last blog gave three reasons why you should get advice from a bankruptcy attorney before selling your home. Here are three more. They will help you make better decisions about your home, and could save you lots … [Read more...]
Saving Your Home through Five Powerful Tools of Chapter 13
October 1, 2013 by Leave a Comment
Chapter 13 is known as the home-saver. It provides a set of tools, each of which solves a different problem. It gives you a powerful combination. Here are five of those tools: Catch up on your mortgage arrearage, flexibly and while protected. You have the length of your Chapter 13 plan–as long as 5 years—to pay your mortgage back … [Read more...]
Bankruptcy-As-A-Tool-In-A-Foreclosure-Proceeding
September 10, 2012 by Leave a Comment
When you are struggling to meet your financial obligations, and have fallen behind on your mortgage, you may have questions about whether or not a bankruptcy filing can help you keep your home. This blog post takes a look at how the bankruptcy laws affect home mortgages, and whether a Chapter 13 reorganization can be an effective tool when you face … [Read more...]
Will-The-Government-Come-To-My-Home-And-Seize-My-Possessions-During-Bankruptcy
August 21, 2012 by Leave a Comment
Separating Bankruptcy Truth from Myth in Texas Bankruptcy is a complex process that is difficult to fully understand until you have gone through it. Many individuals, therefore, fear the unexpected loss of property when contemplating chapter 7 or chapter 13 bankruptcy. A common question I get from clients new to the bankruptcy process ask “will my … [Read more...]
If-I-File-For-Bankruptcy-Will-The-Whole-Town-Know-My-Business
July 9, 2012 by Leave a Comment
Helping You Understand the Bankruptcy Process in Texas Feelings of shame and embarrassment often accompany thoughts of bankruptcy. It is therefore common for individuals contemplating bankruptcy to wonder whether their bankruptcy will become common knowledge in their community. Any bankruptcy is part of the public record. It is therefore … [Read more...]
What-You-Can-Include-In-A-Bankruptcy-2
June 11, 2012 by Leave a Comment
A common misconception is that a bankruptcy wipes out all of your debt. However, although a bankruptcy can forgive many of your debts, it does not forgive all of them. In a Chapter 7 bankruptcy, the non-exempt property and assets of the debtor are liquidated to pay off creditors. Property and assets that the court categorizes as exempt are not … [Read more...]
Three-Things-You-Can-Do-To-Stop-A-Foreclosure
March 13, 2012 by Leave a Comment
Unfortunately, foreclosures are at all time highs and many people lose sleep at night worrying about the future of their homes. Going through a foreclosure can be humiliating, stressful and represent a serious loss for your family. However, there are certain things that your Texas foreclosure attorney can help you to do to avoid foreclosure: • … [Read more...]
