Telegram and Gazette reports “Foreclosure petitions still high” – Bankruptcy can save your home
Posted By Robert Kovacs on Dec 31, 2009 8:29am PST
In an article from the Worcester Telegram and Gazette (http://www.telegram.com/article/20091230/NEWS/912309982/1002) it is reported that foreclosure petitions in Massachusetts remain high.
The good news is that the actual number of foreclosures that have been completed for 2009 has been less than 2008. However, the number of foreclosures started with the filing of a Petition to Foreclose has increased in 2009 from 2008.
Bankruptcy has several options that may help if you have facing foreclosure, in chapter 13 you may be able to eliminate your second mortgage forever, and catch up the missed payments with the first mortgage.
Additionally, you may be able to eliminate all your unsecured debt in either chapter 7 or 13 thus freeing up money to pay towards the mortgage.
If you are facing foreclosure, please give me a call and we can find a solution to the problem. Bankruptcy can stop the foreclosure and save your home BUT ONLY if you file before the foreclosure sale.
Categories:
Second Mortgage, Debt, Mortgage, Chapter 13 , Bankruptcy , Chapter 13 Bankruptcy , Worcester, Assets, Asset Protection, Chapter 7, Foreclosure, Lien Stripping, Worcester Telegram and Gazette