Montgomery Village Foreclosure Defense Attorney

Skilled Foreclosure Defense Lawyer for Clients in Montgomery Village, MD

As a homeowner, few things are more stressful than the imminent threat of foreclosure. You may have cherished memories and thousands of dollars invested in your house, but when you fall behind on your mortgage, your bank or home lender may try to take possession of your home. To protect your rights as a homeowner, reach out to a Montgomery Village, MD foreclosure defense attorney today.

At The Law Office of Donald L. Bell, we believe in building up generational wealth by preserving home ownership. As a highly experienced legal professional, Attorney Donald Bell can go over your avenues to get current on your mortgage and preserve ownership of your home.

Can You Keep Your Home in Bankruptcy?

Many homeowners assume that filing for bankruptcy means losing everything they own, but that is not always true. Chapter 13 bankruptcy is specifically designed to let homeowners keep their property while catching up on missed mortgage payments through a court-approved repayment plan. Unlike Chapter 7, which can involve liquidating certain assets, Chapter 13 allows homeowners to reorganize their debts and stay current going forward.

Keeping a home through bankruptcy depends on several factors, including the homeowner's income, the amount owed in arrears, and whether a feasible repayment plan can be structured. The court will also look at whether the homeowner has enough disposable income to cover both the regular mortgage payment and the additional amount needed to resolve past-due balances. Homeowners who can show a stable income source, even if it comes from a new job or a change in household circumstances, are often in a stronger position to propose a workable plan.

At The Law Office of Donald L. Bell, we help homeowners in Montgomery Village understand whether Chapter 13 offers a realistic way to protect their property from foreclosure. We review each homeowner's full financial picture, including income, other debts, and the specific terms of the mortgage, before recommending a path forward.

When Should a Homeowner Consider Chapter 13 Bankruptcy?

Chapter 13 bankruptcy is not the right fit for every financial situation, but certain circumstances make it worth exploring. Homeowners often benefit from considering this option when:

• A foreclosure sale date has already been scheduled
• Missed mortgage payments have accumulated faster than the homeowner can repay them out of pocket
• The homeowner has steady income but needs time to catch up on arrears
• Other debts, such as car loans or credit card balances, are also becoming unmanageable
• A previous loan modification attempt was denied or fell through
• The homeowner wants to stop wage garnishment or collection lawsuits tied to other debts

Homeowners who wait until a foreclosure sale is imminent may have fewer choices, while those who act sooner often have more flexibility to structure a plan that works for their circumstances.

What Homeowners Can Do While Chapter 13 Bankruptcy Is in Effect

Once a Chapter 13 case is filed, the automatic stay halts foreclosure proceedings, collection calls, and most creditor lawsuits. Homeowners should stay in close contact with the bankruptcy trustee assigned to their case and promptly provide any requested financial documentation. Falling behind on plan payments can put the case at risk of dismissal, which would remove the protection of the automatic stay.

Homeowners going through Chapter 13 should also avoid taking on new significant debt without court approval, since doing so can complicate the repayment plan and affect eligibility for a successful discharge. Any major change in income or household expenses should also be reported to the trustee, since an unreported change can raise questions about the plan's feasibility later in the case.

Meet With a Montgomery Village, Maryland Foreclosure Defense Lawyer

If foreclosure is threatening your home, you do not have to face the process without guidance. We offer free consultations for consumers facing foreclosure so you can better understand your options before a deadline passes. Call 301-614-0535 or contact our Montgomery Village, MD foreclosure defense attorney to schedule your free consultation with The Law Office of Donald L. Bell.