If you have fallen behind on your mortgage and are worried about your home being foreclosed, we can help. Filing a Chapter 13 Bankruptcy will stop a foreclosure and allow you an opportunity to catch up on your missed mortgage payments. 11 U.S.C. § 362 expressly prohibits your mortgage company from continuing with a foreclosure action if you have filed a Bankruptcy.
When you file a Chapter 13 Bankruptcy, you will file be able to repay your mortgage arrearage (the amount you are behind) over an extended period of time. In the Eastern District of Missouri, mortgage arrearage can be repaid over a period of 48 months, generally without any interest.
If you have received a foreclosure notice or are behind on your mortgage payments, you should contact an experienced bankruptcy attorney today. You must act quickly, as once the foreclosure sale has occurred, it cannot generally be undone.