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Filing for Chapter 7 Bankruptcy or Chapter 13 Bankruptcy May Stop Foreclosure
Foreclosure is the process by which a mortgaged property is sold upon default to satisfy the mortgage debt. In a Texas foreclosure , if the property is your primary residence, a lender must serve you with a Notice of Intent to Foreclose, at least 20 days prior. The foreclosure sale must be “posted” at the courthouse in the county where your property is located at least 21 days prior to the sale. Foreclosure sales in Texas always occur on the first Tuesday of the month at the courthouse where the sale has been posted.
A Chapter 7 Bankruptcy may not help you keep your home, but you may be able to have all your remaining debt owed on the mortgage discharged even if the value of the house is less than the value of the debt. In a Chapter 13 Bankrutpcy, you may be given from 3-5 years to to catch up on your payments to the mortgage company, and keep your home.
Get all of the facts on how to stop foreclosure before it’s too late! If you think you are anywhere close to a foreclosure, you should get in touch with Fort Worth Bankruptcy attorney Patrick D. West to discuss your legal financial options!
Remember – The moment you receive notice of a pending foreclosure, the clock is ticking. It is a countdown to your foreclosure sale, so you should immediately call attorney Patrick D. West to discuss actions that can be taken on your behalf!
Tags: Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, forclosure sales, foreclosure options, foreclosure sale, fort worth bankruptcy attorney, legal financial options, mortgage debt, mortgage discharged, notice of intent to Foreclose, stop foreclosure, texas foreclosure