Stopping Home Foreclosure

Lakewood Bankruptcy Attorneys

Both Chapter 7 bankruptcy and Chapter 13 bankruptcy offer protections for homeowners. However, if you are significantly behind on your mortgage payments and facing foreclosure, only Chapter 13 bankruptcy will allow you to save your home.

At The Law Office of W. Robert Montgomery, in Denver, Colorado, we offer a free initial consultation to evaluate your situation and explain which form of bankruptcy protection would work best and help you save your home. Call 720-496-1338 today.

Chapter 7 Bankruptcy and Home Foreclosure

If you are in debt but current on your mortgage payments, you can keep your home by filing Chapter 7 bankruptcy. Filing Chapter 7 bankruptcy will also put a temporary stop to a home foreclosure. However, if you are behind on your payments, the mortgage company can ask the bankruptcy trustee to proceed with the foreclosure and liquidate your property immediately after your case is filed.

In Colorado, you are allowed to keep up to $60,000 in equity in homestead property (up to $90,000 if you are 60 or older or disabled). You would be entitled to this equity after your property is sold.

Chapter 13 Bankruptcy and Home Foreclosure

Our bankruptcy lawyers can stop foreclosure of a home by filing a Chapter 13 bankruptcy. As long as we can file your bankruptcy petition at least a day before your home foreclosure is scheduled, we can stop the foreclosure sale and keep you in your home.

You would have to be able to pay enough money into a Chapter 13 bankruptcy plan to cure the arrearage over a three to five-year period. You would also be required to resume making monthly mortgage payments after your case is filed.

In addition to homes, you can put other types of real estate and assets into a Chapter 13 payment plan.

Free Attorney Consultation

To stop home foreclosure, call our Denver Chapter 13 bankruptcy and real estate mortgage lawyers at 720-496-1338 or fill out the contact form on this page and we will contact you back. Our law office is conveniently located in Lakewood in the Western Denver metro area.

We are a debt relief agency. Our lawyers help people file for bankruptcy relief under the U.S. Bankruptcy Code.