How to Save Your Home
For many of my clients who want to file bankruptcy in New Jersey they want to know how to save their homes in bankruptcy. For many of you out there you are either behind on your mortgage payments or are keeping up with your mortgage payments but are in severe credit card debt. The answer to your situation can often be resolved in bankruptcy.
If you are behind in your mortgage and the bank will not work out a program for you, then filing a chapter 13 bankruptcy will allow you the time to stop any foreclosure and catch up on your mortgage payments and to pay the bank what you owe them in back pay over a 3 to 5 year period.
If you are current on your mortgage but behind in credit cards, then if you file for a chapter 7 bankruptcy you can wipe out your credit cards and keep your home as long as you keep current on your mortgage payments.
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