Phoenix Foreclosure Defense Attorneys

Foreclosure and Bankruptcy in Arizona

As bankruptcy attorneys, one of the most frequent questions we are asked is: “Will bankruptcy stop the foreclosure of my home?”

This is a question that is best answered only after a careful review of your particular financial situation, as each case is different. Filing either a Chapter 7 or Chapter 13 bankruptcy petition will place an automatic stay on foreclosure proceedings, and this may give a homeowner enough time to re-evaluate his or her situation in order to determine whether there is an alternative to foreclosure, such as a loan modification, short sale or deed in lieu of foreclosure. Generally speaking, however, a debtor’s home is better protected in a Chapter 13 bankruptcy rather than a Chapter 7 bankruptcy.

By talking to a Phoenix bankruptcy attorney at Bankruptcy Helpers, you can find out more about your options in saving your home. At times, a homeowner may be more interested in keeping a foreclosure off his or her credit report and may therefore seek a short sale or similar options. Other homeowners wish to do whatever they can to save their home, and in this case may seek a Chapter 13 bankruptcy or may undergo a loan modification in order to reach a new agreement about the terms of their mortgage loan.

Can Bankruptcy Stop Foreclosure? Consult a Phoenix Bankruptcy Lawyer

No matter your particular intentions or goals, taking to a lawyer can open doors for you. You can find out more about your rights and options as a homeowner, as well as how filing for bankruptcy may affect your home. In becoming educated about your choices you can make a better decision that will have the desired effect now and in the long run.

Contact a Phoenix bankruptcy and foreclosure attorney at Bankruptcy Helpers today!