Foreclosure is better than bankruptcy

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foreclosure is better than bankruptcy i'm not going to say that a foreclosure or a bankruptcy is necessarily good but i can tell you this a bankruptcy can stop a foreclosure and keep you in your home a lot of people are behind on mortgage payments right now in fact i've seen studies that say that a larger percentage of homeowners in the united states are behind on their mortgage payments today than at any time since the great depression now during covert a lot of those mortgage payments were put into forbearances and there's been a moratorium against foreclosures on most mortgages there have been some exceptions but most government type mortgages there has been a moratorium on foreclosures well that moratorium either has ended or will end shortly depending on where you live and the type of mortgage you have and if you haven't worked out some sort of agreement with your mortgage company as to how are you going to catch up on any missed mortgage payments entered into a modification agreement then that mortgage company has the right to foreclose on your home and in both alabama and mississippi where we practice that foreclosure process is quick there's no court involved it's a non-judicial foreclosure you can lose your home foreclosure very quickly and if your home is foreclosed on it's going to be a significant negative mark on your credit it's going to be there for at least seven years if not longer with a bankruptcy we can help you save your home through a chapter 13 reorganization bankruptcy we can help you catch up on the payments you're behind on and stop that foreclosure sale or as i said earlier if you intend to surrender that home that you can no longer afford it we can help you arrange to do that in in a systematic manner where your stuff isn't just put out on the street but that your home can be transitioned back to the mortgage company in an orderly manner and give you an opportunity to get out from any resulting debt and rebuild your credit so don't just assume that a foreclosure is going to be better than a bankruptcy talk to a bankruptcy attorney as soon as you realize you've got a problem as soon as you realize that your mortgage payments are behind reach out to us we'll help you explore your options see if we can help you stay in your home but we certainly can stop the foreclosure at least in the short term and hopefully avoid it all together so that you and your family can stay in your home