Bankruptcy May Help a Homeowner Avoid Foreclosure

By the time most people contemplate bankruptcy, they are finding it difficult to make monthly house payments and are likely a few months behind on the mortgage.

2011-04-24

April 24, 2011 (Press-News.org) Bankruptcy May Help a Homeowner Avoid Foreclosure

By the time most people contemplate bankruptcy, they are finding it difficult to make monthly house payments and are likely a few months behind on the mortgage. For many, the primary concern going forward is to avoid foreclosure, but many assume filing for bankruptcy means losing your home. This is not necessarily the case.

Not all bankruptcy filers remain in their homes -- and for some it is not in their best interest to do so -- but if saving your home is a high priority there certainly are options.

No matter where you are in the foreclosure process, bankruptcy will halt the process immediately. This is not permanent, but for some who can catch up on mortgage payments it can make the difference on whether or not you are foreclosed.

Chapter 13 bankruptcy is used most often for people with a steady income who need to lose some debt, but can make a 3 to 5 year payment plan that will pay off secured debts. This is usually the best choice for those wanting to keep their home. If you can afford to make your mortgage payment, plus a little extra if you are behind, you should be able to save your home.

The biggest benefit from bankruptcy is that it will get rid of unsecured debt. Unsecured debts, like credit cards, are not tied to any of your property. The savings can then be put towards your mortgage payments.

Doing Nothing About a Potential Foreclosure is the Worst Choice

Some people can feel overwhelmed about rising debts and threats of foreclosure. It can be tempting for some to simply not pay the mortgage and let the foreclosure happen.

A foreclosure is not the best choice. There are other options to bankruptcy, such as home loan modification, that should be looked into with the help of an attorney. If bankruptcy is ultimately the best decision, however, it won't negatively affect your credit as much as foreclosure. Even if you ultimately lose your home, it is still better for your credit to file for bankruptcy rather than just let the foreclosure happen. A better credit rating will let you buy another home sooner, sometimes just a few years after a Chapter 13 bankruptcy.

If you are in danger of foreclosure, contact a bankruptcy attorney that can explain more fully how bankruptcy can help save your home.

Article provided by The Epstein Group
Visit us at http://www.epsteingroup.com

ELSE PRESS RELEASES FROM THIS DATE:

Slow Down for New York Emergency Vehicles or Risk a Ticket

2011-04-24

Slow Down for New York Emergency Vehicles or Risk a Ticket On January 1, 2011, New York began enforcement of the Ambrose-Searles "Move Over Act," New York Vehicle and Traffic Law Section 1144-a. The new law requires drivers approaching a stopped emergency vehicle with its lights on to slow down. In addition, if you are driving in an adjacent lane you must move over, so long as you can do so safely. The law is named after two officers who were killed while stopped on the side of the road. In an interview with WBNG-TV news, a New York State Police sergeant said ...

Textile Center Presents Creative Summer Camps for Youth

2011-04-24

Registration for the 2011 summer camps at Textile Center is now open for kids 6 to 16 years old. Summer camps begin July 8 and run through August 26, with more than 30 different camp options varying in session length. Textile Center day camps combine sewing, painting, silk screening and other textile related arts to engage kids. Many of the camps also involve dying fabric, which takes place in the state-of-the-art dye lab. Campers create a variety of projects, including quilts, original clothing pieces, jewelry, pajamas, messenger bags and much more during the summer ...

Public Schools are Failing Miserably, What Parents Can do to Fight Back

2011-04-24

It is estimated that up to 85% of public schools will be considered "failing" by the end of this school year. If you have a school age child, let Tutorfi.com help you increase your child's potential. You cannot rely on the school system alone. Teachers are under the gun to teach the testing under the No Child Let Behind Policy. The schools and teachers are graded on how well the students do on the test, curriculum takes a back seat. Tutoring can help considerably; here are some suggestions on how a tutor can help: 1. The sooner tutoring begins, the more successful ...

Stevens Auction Company adds a second day to the liquidation of Nostalgia Furniture, April 29-30

2011-04-24

"There's too much great stuff!" lamented Dwight Stevens of Stevens Auction Company. He was referring to the upcoming on-site liquidation of the contents of Nostalgia Furniture, nationally known furniture makers. The auction was originally slated for April 30, but because the inventory yielded such a huge trove of items, a second day was added. Now, the sale will take place April 29-30, on County Road 53 North in Ethelsville, Ala., located just a few miles outside Columbus, Miss., on U.S. Highway 82. It will be an absolute auction, meaning everything sells, ...

ItsOurSecret.org and ProSocial Media Design Announce the Launch of a New Web Site for ItsOurSecret.org Visitors

2011-04-24

ItsOurSecret.org and ProSocial Media have announced the launch of a new website for ItsOurSecret which can be viewed at http://www.itsoursecret.org. The new site provides users with an overview of the organization's mission, educational resources, and an opportunity to participate in the community According to Burne Hill, founder of ItsOurSecret.org, the primary purpose of the organization is to provide information, education and a voice to those that have been victimized by others that have used their power by uttering those words: "It's our secret". Hill ...

South Carolina Woman Charged With DUI After Killing DOT Worker

2011-04-24

South Carolina Woman Charged With DUI After Killing DOT Worker Misty Dawson took prescription pain medication for nausea and other pains before leaving work on Wednesday, April 6. According to WYFF news, at her hearing Misty said she "was thinking it wouldn't go into effect until I got home." On her way, she struck 60 year-old Noah Lark, a South Carolina Department of Transportation worker who was under an interstate bridge. Lark died a few hours later. He is survived by a wife, children and grandchildren. Dawson claims she does not remember the accident, ...

KR Enterprises, LLC acquires Thats My Topper

2011-04-24

KR Enterprises, LLC a growing ecommerce enterprise company located in Eau Claire, Wisconsin has recently acquired a leading ecommerce wedding cake topper company, That's My Topper. With this recent acquisition, That's My Topper will be put to the test as it climbs the mountain of the wedding business with the small business feel with large corporation backing. That's My Topper established itself in 2006 by providing a variety of cake toppers mainly to the wedding audience. Within the last year, That's My Topper has grown its catalog to over 1000 different cake toppers ...

Superzoo Offers New Grooming Features and Remodeled 'Club' for 2011 Show

2011-04-24

SuperZoo, one of the largest National shows for pet retailers, will return to the Mandalay Bay Convention Center Sept. 13-15, 2011. Produced and managed by the World Pet Association (WPA), SuperZoo will offer new features at the 2011 show, including a revamped business lounge, a new grooming component and expanded retailer course offerings through the SuperZoo University program. "2010 was a record breaking year for SuperZoo with an increase of almost 14 percent in the number of exhibitors over the previous year and more than 10,000 attendees coming to the show," ...

GL Solutions to Implement New Licensing Software System for Wyoming Board of Medicine

2011-04-24

Today GL Solutions announced the awarding of a new contract from the Wyoming State Board of Medicine to provide a new regulatory software system. GL Solutions creates GL Suite , an expert regulatory software database system that is currently utilized by several other state medical boards across the United States. GL Suite is easy-to-use, highly flexible, government licensing software tailored to meet each agency's specific business needs, resulting in improved efficiency, effectiveness and customer service. "This project will move our licensing processes into ...

Women Find Tea-Drinking Dudes 'Sexy Breath' of Fresh Air in a Coffee-Drinking World.

2011-04-24

On line dating companies have no trouble matching likes, dislikes, values and vices. But for that fateful first date, after weeks of virtual courtship, what computers fail to predict is the other person's breath. According to actress Tyra Colar, who has appeared on ABC's hit "Cougar Town" with Courtney Cox, many women find male tea drinkers to be a sexy breath of fresh air when compared to their "can I buy you a drink" coffee-drinking counterparts. "Nothing shortens a first date faster than a guy with halitosis," said Colar, who grew ...

Bankruptcy May Help a Homeowner Avoid Foreclosure

ELSE PRESS RELEASES FROM THIS DATE:

LAST 30 PRESS RELEASES: