Preserving Your Property Through Bankruptcy
One of the biggest concerns for Nashville homeowners considering bankruptcy is whether they will be able to keep their homes. Whether you are facing the threat of foreclosure or are worried about losing your home to the bankruptcy trustee, you need accurate information.
At the law offices of James Flexer, we understand how serious these issues are for our clients. Our Nashville foreclosure lawyers are dedicated to helping people keep their homes whenever possible. Use the form on the right to contact us for a free consultation.
Nashville Foreclosure Lawyers: Stopping Foreclosure with Chapter 13 Bankruptcy
If you’re behind on your mortgage payments, your bank may be threatening you with foreclosure. In fact, they may have already scheduled a foreclosure sale. Filing for Chapter 13 bankruptcy in Nashville is the one step you can take that can put a stop to any pending foreclosure sale.
Once you file for Chapter 13 bankruptcy, you will pay your regular monthly mortgage payments through your Chapter 13 bankruptcy payment plan. In addition, the arrears (your late or missed payments) will be caught up to date.
As long as you comply with the payment plan, your lender cannot foreclose on your house. Chapter 13 may also give you leverage to negotiate more affordable payments with your mortgage lender. This can be particularly helpful for people with balloon payments.
Our foreclosure lawyers in Nashville have helped thousands of people save their homes from foreclosure using the tools offered by Chapter 13 bankruptcy. Call us today at 615-255-2893 to find out if bankruptcy can stop your foreclosure.
Planning for the Chapter 7 Homestead Exemption
Even if you are not currently behind on your mortgage, filing bankruptcy may help you keep your house by discharging other debts such as credit cards and medical bills so that they do not interfere with your ability to make your future mortgage payments.
Tennessee has a homestead exemption that allows people to file Chapter 7 bankruptcy and keep their homes as long as they do not have too much home equity.
Our Nashville foreclosure attorneys use exemption planning to help clients keep their homes. Exemptions are laws that allow you to keep certain amounts and types of property even though you filed for bankruptcy.
To learn more about the impact of bankruptcy on home ownership, contact us to talk to one of the experienced foreclosure lawyers at our firm.