One of the biggest concerns for Middle Tennessee 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 Flexer Law, we understand how serious these issues are for our clients. Our experienced foreclosure lawyers are dedicated to helping people keep their homes whenever possible. Contact us for a free bankruptcy consultation and we can help you find the best way to proceed through a difficult situation.
Keeping Your Home in 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 Tennessee 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.
Since 1981, the experienced foreclosure lawyers at Flexer Law have been serving residents in Nashville and the greater Middle Tennessee region. With our understanding of the protections offered by Chapter 13 bankruptcy, we have helped thousands of people eliminate debt while saving their homes from foreclosure.
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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. This can be done by taking advantage of the Tennessee homestead exemptions provided by Chapter 7 bankruptcy.
The Tennessee homestead exemption allows people to file Chapter 7 bankruptcy and keep their homes as long as they do not have too much home equity.
Our experienced foreclosure attorneys will use exemption planning to help you keep your home. Exemptions are laws that allow you to keep certain amounts and types of property even though you filed for bankruptcy.
Our Foreclosure Attorneys Will Help You Keep Your Home
Filing for bankruptcy can provide immediate financial relief while giving you a clean slate to rebuild your credit and continue making payments on your home. To ensure a smooth process, it is invaluable to enlist the help of an attorney you can trust.
Flexer Law has been serving the legal needs of Middle Tennessee residents since 1981. Our experienced bankruptcy attorneys will work diligently on your behalf to provide the best financial outcome for you.
Regardless of your financial situation, we will guide you through the bankruptcy filing process with confidence. If you are worried about the cost of hiring an attorney, know that we offer payment plans to ease the burden, and in most cases, no money down on Chapter 13 plans.
Contact us today to learn more about the impact of bankruptcy on homeownership in the state of Tennessee. We have three office locations conveniently located throughout Middle Tennessee.