What Are the Alternatives to Filing Bankruptcy in New Jersey? Debtors who have faced obstacles [..]
New Jersey Foreclosure Prevention Lawyer
Experienced Debt Attorney Helps Clients Save their Homes in Camden County and throughout South Jersey
Your home is your castle. It’s likely the largest investment you’ve ever made and it’s the place where you and your family feel safe. However, when unmanageable debt threatens your home, it’s completely understandable if you feel overwhelmed and frustrated. The mortgage company wants its payments and when a homeowner gets into significant arrears, it can be very difficult to avoid foreclosure.
However, all hope is not lost. At the law firm of Brenner Brenner & Spiller, we have helped countless homeowners in South Jersey remain in their homes through a variety of methods. Contact our Collingswood, NJ office today to speak with an experienced lawyer who will explain your rights and options, answer all of your questions and do what’s necessary to save your home.
Seasoned Debt Lawyers Outline Some Options for Avoiding Foreclosure
When bills are mounting and it feels like you are drowning in debt, your attention can quickly turn to the topic of foreclosure. Will the bank take your home? Will you have to file for bankruptcy? Can filing for bankruptcy protection even save your home from foreclosure?
These are all good questions; the experienced lawyers at Brenner Brenner & Spiller have the answers. We invite you to contact us for a free consultation to learn about your options, which include filing for Chapter 13 bankruptcy, debt negotiation or settlement, obtaining a loan modification and even selling your home in favor of downsizing into something you can better afford. The latter, of course, doesn’t save your home, but it does provide you with an alternative to foreclosure that may be able to save your credit to some extent.
Chapter 13 Bankruptcy: There are two basic options for a person who is considering filing for personal bankruptcy protection: Chapter 7 and Chapter 13. Chapter 13 bankruptcy is the option many choose when they are hoping to stave off foreclosure. Also called reorganization bankruptcy, Chapter 13 allows a person to set up a repayment plan to pay back creditors in smaller amounts over a longer period of time (usually three to five years). This includes paying back mortgage arrears and getting current with your loan. Doing so allows a homeowner to keep their home. This is a very complex area of the law; contact Brenner Brenner & Spiller to learn more about how Chapter 13 bankruptcy can keep your home out of foreclosure.
Loan Modification: Your lawyer can explain the details of another popular option for saving your home from foreclosure: loan modification. In this program, you may be able to restructure your loan and reduce monthly payments. You may also be able to take some of your equity to pay down debt so you avoid bankruptcy.
Contact a Savvy NJ Debt Negotiation Lawyer at Brenner Brenner & Spiller about Ways to Save Your Home from Foreclosure
Being in debt is a horrible feeling for many hardworking people. You toss and turn at night trying to figure out which bills to pay — if you even have any money to pay any of your creditors this month. Meanwhile, your mortgage is in arrears and you worry about where your family will live if the bank forecloses on your house. These fears are understandable, but it’s important to know you have options.
At the Collingswood, NJ law offices of Brenner Brenner & Spiller, we will discuss the many ways you may be able to save your home from foreclosure — and even possibly avoid bankruptcy. Contact us today for a free, confidential consultation about your debt. You can get through these challenging financial times; we can help.