Stop a Foreclosure

Washington and Oregon Foreclosure Defense Lawyer

When you fall behind on your mortgage payments, you may be faced with a foreclosure. A foreclosure is an attempt by your mortgage lender to recover unpaid debts by auctioning off your home. If you face foreclosure, you should consider filing for Chapter 7 or Chapter 13 bankruptcy. When you file for bankruptcy, mortgage companies must stop foreclosure proceedings immediately.

At Debt Advisors, P.C., we represent people throughout Oregon and Washington in both Chapter 7 and Chapter 13 bankruptcies. From our office in Portland, Oregon, our firm will not only represent you during bankruptcy, but will also provide you with real solutions to your financial problems. We will advise you about the best strategies to rebuild wealth after you file for bankruptcy.

How to Stop Foreclosure

After filing for bankruptcy, you will receive instant relief from harassing creditors. The court will issue an automatic stay on all debt collection, including a stay on a foreclosure. This will allow you some time to make financial arrangements to pay your unpaid mortgage payments or to move out of your home. If you have fallen behind in paying your mortgage, contact an attorney at Debt Advisors, P.C., for a free initial consultation.

Chapter 7 bankruptcy will not prevent a bank or mortgage company from foreclosing on your property. What Chapter 7 bankruptcy will do is discharge most of your debt and liquidate your property in order to pay it back. By filing for Chapter 7 bankruptcy, you will at least have some time to prepare.

Chapter 13 bankruptcy is your chance to arrange to pay back your unpaid mortgage payments in a more realistic manner. The foreclosure of your property will be stayed immediately after you file for bankruptcy. Once an appropriate Chapter 13 repayment plan is agreed upon, the bank and mortgage company must stop foreclosure proceedings.

If you face the loss of your home, contact an experienced bankruptcy lawyer at Debt Advisors, P.C., for a free initial consultation on how to stop foreclosure.