You need foreclosure help, if you fall behind on your house payments, your mortgage lender may start a foreclosure action and sell your home at a Sheriff's sale. If the sale nets less than you owe, there will be a "deficiency balance" that you will owe to the lender. This debt is considered unsecured debt since the lender no longer holds your house as collateral.

Under the new Bankruptcy Act of 2005, credit counseling may be required or other options may be required,For foreclosure help the first step is to contact us to find out all your legal options and rights.

Foreclosure Terms:

• Sheriff's Sale
• Unsecured Debt
• Deficiency Balance
• Collateral

Filing for Chapter 13 bankruptcy protection stops your mortgage lender dead in their tracks. The day you file your Chapter 13 plan, the court grants you an "automatic stay". This will immediately prevent the sale of your home.

One of the great advantages of a Chapter 13 plan is that it allows you to get caught up on your mortgage payments over the length of the plan (usually 3 years). If your home is in foreclosure, you must file for relief before the foreclosure sale.

Foreclosure Interruped
If a foreclosure proceeding is interrupted due to a bankruptcy filed by the borrower, or if a deed-in-lieu of foreclosure or pre-foreclosure sale is accepted prior to the completion of the foreclosure, a maximum of 75% of the allowable attorney fee and all actual foreclosure costs incurred will be reimbursed.

If state statute requires that the foreclosure be restarted from the beginning after a bankruptcy is dismissed or relief from stay is granted, the lender will be reimbursed for 100% of allowable foreclosure attorney fees and costs incurred after the bankruptcy stay is lifted.

Under the new Bankruptcy Act of 2005, credit counseling may be required or other options may be required,For foreclosure help the first step is to contact us to find out all your legal options and rights.

If state statute does not require that the foreclosure be restarted from the beginning, reimbursement of all foreclosure attorney fees incurred both before and after the bankruptcy is limited to the amount listed on the Schedule of Standard Attorney/Trustee’s Fees.

Bankruptcy Law Is A Federal Law. This Sheet Gives You Some General Information About What Happens In A Bankruptcy Case. The Information Here Is Not Complete. You May Need Legal Advice.