What Will You Do When The Suspension On Foreclosures Expires In Missouri And Illinois?

Despite an extension by Citi mortgage of their foreclosure suspension to January 17th

, it seems that the Holiday gift from Bank of America and Chase has already expired. The three big lenders had suspended all foreclosures until after the new year but, now that it is over for BAC and Chase, will the reality of 2010 leave you without a home? You wouldn't be alone--St. Louis alone bounced between 1,500 and 1,700 foreclosure filings a month for most of 2008 and 2009. Unemployment doesn't look to be moving from its elevated 10% and lender's purse strings are only getting tighter. Plus, we haven't even seen the worst of it. Foreclosure aren't set to peak until the end of this year. So, how will you keep your family protected from foreclosure in 2010?

Now would be a great time for a "how-to" guide on getting protection from foreclosure. But, since they haven't yet come out with "Mortgage Defaults for Dummies," Americans need to look a little harder to find a solution to foreclosure that really works. While loan modification seems like the next logical step, an overwhelming amount of requests has left lenders only able to modify about 4% of loans. Debt settlement isn't exactly a safe options due to their prevalence of scams.

Fortunately, some St. Louis Missouri and Fairview Heights Illinois bankruptcy attorneys are lending a hand to people in crisis from foreclosure. What do they have to offer? Chapter 13 bankruptcy stops a foreclosure and keeps you and your family from living on the streets. Not only does it provide protection from foreclosure, but it also provides credit card debt help, stops a wage garnishment, and stops car repossession. Don't let the gloomy predictions for 2010 make you think that there is no way out. Chapter 13 bankruptcy has provided relief for thousands of residents of Missouri and Illinois and can do the same for you.

Are you wondering when to file bankruptcy or if Chapter 13 bankruptcy is even right for you? Look for free information from trusted St. Louis Missouri or Southern Illinois bankruptcy attorneys. While many of these attorneys offer free consultations, the best attorneys will offer you any information you need before you even step foot in his or her office.

It is important, however, to remember not to wait. Once you receive a foreclosure notice, you have a limited amount of time to get help. Call a qualified Missouri or Illinois bankruptcy lawyer to keep your family happy and safe in a home they've spent years building memories in together.

by: Jim Brown

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