Foreclosure Sign in Front of HouseThere is a legal and honorable way to stop the foreclosure on your home. It’s called Chapter 13 Bankruptcy, also known as the “wage earners repayment plan.” We use the federal courts to stop the foreclosure on your home.


Does this sound like your situation?

You are several months behind on your mortgage payments or homeowner’s association dues. The mortgage company has been calling you demanding that you catch up on your payments. You have been trying to work with them in a possible loan modification, and have offered to pay a portion of the amount due, such as your regular monthly payments, plus a little extra. The person at the mortgage company wants the total amount due; it is all or nothing. They will not even take your regular payments; they are sending back your checks and you are getting even further behind.  If they would just give you some time to “get back on your feet”, you could get caught up. However, they refuse to work with you to save your home. They have now started or about to start foreclosure proceedings through the courts to take your home. You have no other place to go and you must save your home.

How would you like to use the power of the Federal Courts to force them to work with you?

Would you like to pay back the amount you are behind with a payment plan of 36-60 equal monthly payments? In theory, it’s like a loan from the federal government to pay your late mortgage or home owners association payments?  This can happen even if all other mortgage or loan companies have recently turned you down for a loan. Also, we can usually wipe out about 95% of your unsecured debts such as credit cards, medical bills, personal loans, etc.  You are usually able to keep your home, cars, furniture, clothes, retirement plans, etc. This is called Chapter 13 Bankruptcy.

You’re probably asking what would be the cost of your monthly payments on the Chapter 13 repayment plan?

A common example may be, you are making payments of $1000 per month on your home and you are six months behind. There are no foreclosure attorney’s fees at this time. Your payments would be approximately $134 per month for 60 months to get caught up on your mortgage payments. However, you may be required to make your regular mortgage payments through the Chapter 13 Trustee and pay a small percentage to your unsecured debts.

Who is the Chapter 13 Trustee?

The Chapter 13 Trustee is an attorney appointed by the federal courts to be the “middleman or middlewoman”.  You will make monthly Chapter 13 plan payments to the Chapter 13 Trustee and they disburse these payments to your creditors each month.  They also oversee your case on behalf of the court and your creditors.

Can I wipe out other debts and get caught up on my house payments?

We could also eliminate most of your credit card, personal loans, and medical bills in the Chapter 13 bankruptcy.  For example, if you owed $25,000 in credit card debt, you would usually only have to pay back only about $28 per month for five years to eliminate this unsecured debt.  No, this is not an error regarding the pay back amount! Only about $28 per month for five years to eliminate $25,000.00.  Again, this is a rough estimate, but we are usually pretty close regarding the dollar amount of the payments. Of course, this amount varies depending upon your individual situation.

What if the mortgage company refuse to let me file a Chapter 13 to save my home?

We do not negotiate with the mortgage company.  We use the power of the federal courts to force them into the Chapter 13 repayment plan. There is no negotiating regarding filing the Chapter 13. The mortgage company cannot block you filing a Chapter 13.

Can the neighborhood home owners association actually foreclose on my home for not paying the HOA dues? That doesn’t seem fair!

Sadly, the answer is yes, and they do this quiet often. Surprisingly, current state law allows the home owners association to foreclose on your home. The chapter 13 bankruptcy can stop a foreclosure by a home owners association also.

Are there any reasons I could not save my house by filing a Chapter 13?

To file a Chapter 13 bankruptcy you must qualify for the Chapter 13 and you must have sufficient income for the plan to be feasible.  Therefore, you must show to the court you make enough income to make your regular mortgage payments and pay back the mortgage payments in which you are now behind.

For example, if your house payments are $1800 per month, but you have a job that only pays $1500 per month and you have no other income, you would not be able to file a Chapter 13 because you do not make enough income to keep the home. We will calculate this Chapter 13 plan payment for you, but you must earn an income to be able to make these payments and provide necessities such as food, electric bill, etc. However, remember most of your other unsecured debts such as credit cards, medical bills, etc are virtually being eliminated. Most people that have jobs qualify to file a Chapter 13.

How do I pay Duncan Law the attorney’s fees to file the Chapter 13?

We understand that you are in a financial bind, and the last thing you need is to have to pay all of the attorney’s fees up front!  Don’t worry, we are prepared to place a portion of the attorney’s fees inside the Chapter 13 plan payment you will be making to the bankruptcy Trustee. This will spare you the burden of paying the total cost of the bankruptcy up front. Call us to discuss the estimated attorney’s fees and how much a Chapter 13 cost.

In conclusion, if you would like to have a free consultation with me to discuss how we can stop the foreclosure sale, please give me a call at 704-XXX-XXXX or click on the contact button below for us to contact you.