Glen Burnie, MD Foreclosure Defense Lawyer

Experienced Foreclosure Defense Attorney for Homeowners in Glen Burnie, Maryland

When your home is threatened by lenders looking to foreclose, you may have to take urgent legal action to keep your house. However, trying to catch up on several months of missed mortgage payments in a short amount of time may not always be feasible. With the help of a Glen Burnie foreclosure defense lawyer, you can work out a reasonable plan to address your mortgage arrears.

If you need help addressing late mortgage payments, The Law Office of Donald L. Bell is here to assist. We help clients take control of their debts, offering practical solutions with personalized petitions for Chapter 13 bankruptcy. Attorney Donald Bell will provide you with hands-on guidance, working with you from the beginning of your petition to the end to protect your home.

How Can Chapter 13 Bankruptcy Help Me?

Chapter 13 bankruptcy is a valuable tool for individuals who are struggling with overwhelming debt but still have a steady income. It offers a chance to reorganize your finances and create a repayment plan that allows you to pay off your debts in three to five years.

One of the primary benefits of Chapter 13 is that it enables you to keep your property, including your home, while getting up-to-date on late payments. Through this process, you can make your payments manageable, avoid losing your home to foreclosure, and protect your assets from creditors. Chapter 13 also allows you to combine different types of debt into a single monthly payment, which can simplify your financial life and make it easier to stay on top of your obligations.

Unlike other forms of debt relief, Chapter 13 gives you the flexibility to negotiate with creditors and work out a plan that reflects your current financial situation. Once your repayment plan is approved by the court, you are legally protected from creditors and collection actions, including harassment, lawsuits, and wage garnishments. If you are behind on mortgage payments or other secured debts, Chapter 13 provides a structured way to catch up without the immediate risk of foreclosure or repossession.

Other Benefits of Chapter 13 Bankruptcy for Homeowners

In addition to helping you keep your home, Chapter 13 bankruptcy offers several other benefits for homeowners. One of the key advantages is lien stripping, which may allow you to remove a second mortgage or home equity loan if the value of your home is less than the amount owed on your first mortgage. This can significantly reduce your debt and improve your chances of staying current on your primary mortgage.

Additionally, Chapter 13 provides an opportunity to renegotiate the terms of your mortgage, potentially lowering your interest rate or extending the repayment period. This can help reduce your monthly payments and make them more manageable. Furthermore, once you complete the repayment plan, any remaining non-priority unsecured debts, such as credit card balances or medical bills, may be discharged.

Do I Have to Go to Court to File for Chapter 13?

Filing for Chapter 13 bankruptcy involves going to court, but it does not necessarily mean lengthy trials or complicated procedures. First, you will file a petition with the bankruptcy court, along with your repayment plan. Once the petition is filed, you will attend a 341 meeting with the bankruptcy trustee. At this meeting, the trustee will review your financial situation and repayment plan and may ask questions to ensure that everything is accurate and complete.

The final step is a confirmation hearing, where the court will review your repayment plan and formally approve it. Although it is not a trial, this hearing is an important part of the process. Working with an experienced bankruptcy attorney can help you navigate the paperwork and prepare for both the 341 meeting and the confirmation hearing. An attorney can also represent you in court, answering any questions from the trustee.

Meet With a Glen Burnie Foreclosure Defense Attorney

At The Law Office of Donald L. Bell, we are ready to serve as your steadfast advocate during foreclosure proceedings. To schedule a free initial consultation today, contact our Glen Burnie, Maryland foreclosure defense lawyer or call our offices at 301-614-0535 today.