Bankruptcy Lawyers South Salt Lake - Will I Lose My Home?

Typically you can keep your home even if you file for bankruptcy

. In a chapter 7 the bankruptcy filing will immediately cease any actions of the bank or lender going after the home but only for a time period. During that time period, which is approximately 60-90 days you need to be able to catch up your payments with that creditor and once doing so get back on track and agree to make the regular monthly payments. In other circumstances, in a chapter 13 situation you will not necessarily be required to catch up all those payments immediately but youll be able to reorganize those amounts, sometimes putting them at the end of the payment loan period so if youve got a 30 year note and youre in the 20th year possibly it extends it on the end. Whats more apt to happen is that a certain amount will be paid per month to catch up any amounts that you are behind on that house payment.

I hope you found this video helpful. As you've noticed we literally have hundreds of videos for any type of question that you may have regarding the bankruptcy process. Please take your time, look at any other videos, answer any of their questions that you may find helpful on our website but call us at (801) 424-3555 so that we can set up an appointment and start helping you get back on your feet and get the fresh start that you deserve through the bankruptcy process

[No information or materials contained herein are intended to constitute legal advice and are not applicable to any specific set of facts, especially as to any individual's personal situation. This material is provided as informational instruction as to general legal information, opinions or recommendations about possible legal rights, remedies, defenses, procedures, options or strategies but not specific advice related to another person's facts as set forth in UT 14-802(c)(2) the information contained herein nor the perusal of it shall be interpreted to constitute an attorney-client relationship and does not establish nor constitute an attorney client relationship]

by: Michael Labertew

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