Facing financial difficulties can be overwhelming, especially when your home is at risk. If you find yourself struggling to keep up with mortgage payments among other financial responsibilities, it is essential to know your options. Understanding how bankruptcy can...
Home Ownership and Bankruptcy
What assets can creditors take when you file for bankruptcy?
Filing for bankruptcy can be a stressful experience. When you file for bankruptcy, creditors may take some of your belongings to pay off your debts. Knowing what creditors can and cannot take helps you prepare for the process. In bankruptcy, assets fall into two...
Beware of using home equity to pay debt
Some people file for bankruptcy when they cannot afford their mortgage payments in a bid to stay in their house while they sort out their debt problems. However, if you have mounting debt but have already paid off your mortgage, be sure you do not endanger your home...
3 possible signs of a foreclosure rescue scam
Navigating a potential foreclosure can be overwhelming. Unfortunately, scam artists often prey on vulnerable homeowners seeking assistance. Understanding the red flags associated with foreclosure rescue scams helps protect your home and financial well-being. 1....
How Chapter 13 bankruptcy can safeguard your home
Facing financial difficulties can be overwhelming, especially when it jeopardizes the roof over your head. However, there is a legal option that can help you keep your home while working toward resolving your debts: Chapter 13 bankruptcy. Chapter 13 bankruptcy is a...
Can I defend my home from foreclosure in Maryland?
The idea of losing one's home to foreclosure can be a distressing ordeal. In Maryland, homeowners have options to defend their homes and avoid this unfortunate situation. Though falling behind on your mortgage payments can make you feel like you are in hot financial...
When is the best time to file for bankruptcy during foreclosure?
Once your home goes into foreclosure, you need to work diligently to save it. Otherwise, the lender will sell it to someone else. After all, the lender's main goal is to get money for the property. They are not in the business of collecting homes. The foreclosure...
How may a Chapter 7 bankruptcy help me keep my home in Maryland?
Between 2020 and 2022, you may have qualified to place your mortgage in forbearance. After a pause in loan obligations, however, you may still find yourself unable to meet your expenses when your mortgage payments resume. The Ascent reports that only half of the about...
Will I lose my home if I file bankruptcy?
If you are in the process of considering bankruptcy, it is likely that you have multiple financial concerns. Many people are aware that filing bankruptcy can lead to asset loss. Thus, one of the most common concerns bankruptcy filers have is if they will be able to...
Qualifying for a mortgage after a Chapter 7 bankruptcy
Seeking Chapter 7 bankruptcy protection can help you get out from under your mounting debts and finally re-establish yourself on a firm financial footing. Yet at the same time, such an action does have an impact on your credit rating, which may make it difficult for...