Using Chapter 13 Bankruptcy in Oneonta to Avoid Foreclosure

Are you looking for a viable way to save your home from foreclosure?

chapter 13 bankruptcy in oneonta, ny can save your homeIf so, you should seriously consider filing Chapter 13 Bankruptcy in Oneonta. Although people who are facing this same challenge do turn to other methods, according to a study involving 300,000 participants completed by Princeton University and the Social Security Administration, Chapter 13 Bankruptcy is the most successful option.

You will quickly discover that mortgage companies are simply not interested when you turn to out-of-state programs for assistance. The biggest problem is that these and similar programs have no accountability, and as such, mortgage companies are not interested in what they have to offer.

However, if you use a reputable attorney to file Chapter 13 Bankruptcy in Oneonta, you immediately gain an advantage, since this professional has access to numerous tools. For example, with the aid of an attorney, you are given up to five years to pay anything in arrears. Once that money is caught up, you start paying the regular mortgage payment each month.

Loss Mitigation in Oneonta, NY

The Bankruptcy Court in Upstate New York recently adopted an incredible new program. Known as Loss Mitigation, this voluntary program prevents people like you from experiencing foreclosure. This program is actually highly regarded and accepted because the banks work through attorneys rather than homeowners.

Unfortunately, a bank work-out is not always possible due to the fact that many homeowners are unaware of the information and documentation needed. However, once you hire an attorney to file Chapter 13 Bankruptcy in Oneonta, things change—you gain knowledge about what is needed by the bank, which obviously works in your favor.

Another key benefit of the Loss Mitigation program is that every homeowner facing foreclosure has an attorney and judge overseeing the entire process. This makes mortgage companies accountable for their actions, so that if at any time an action occurs out of good faith, the court has the power to stop the bank from going forward with the foreclosure.

What Now?

Instead of struggling and living with constant fear, recognize that filing Chapter 13 Bankruptcy in Oneonta is the best option for saving your home. For more information, please get in touch with us today. One of our professional attorneys will gladly answer your questions and guide you through the bankruptcy process.

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