What is Bankruptcy

Whether you are a homeowner who is underwater on a second mortgage or you’re overloaded with credit card debt, bankruptcy may afford you a way to end those endless calls from creditors, take control of your finances again, and make a fresh start.

Chapters of Bankruptcy
  • Chapter 7
  • Chapter 11
  • Chapter 13
  • Chapter 20
Bankruptcy & Loan Mod

More and more, lenders are willing to negotiate with homeowners in order to minimize their losses. When your loan modification is protected by Chapter 13 bankruptcy, temporary payment terms can become sustainable debt relief.

  • Qualification criteria for loan modification
  • Benefits of loan modification
  • What constitutes a Hardship
  • Loan modification scams
Mortgage Loan Modification

A mortgage loan modification is a change in your loan terms. The modification is a type of loss mitigation.

  • Benefits of Loan Modification
  • Tips for Loan Modification
  • Avoid foreclosure
What If I Can't Pay My Mortgage Loan, What Are My Options?

If you can’t pay your mortgage or are worried about missing a mortgage payment, call your mortgage servicer right away. You should also contact a HUD-approved housing counselor to get free, expert assistance on avoiding foreclosure.

  • Call your mortgage servicer
  • Call a HUD-approved housing counselor
  • What options might be available by servicer
  • Watch out for Scams
Avoid Scammers

During times of crisis and hardship, including COVID-19, scammers seize the opportunity to prey on consumers. Fraudsters are known to contact homeowners offering financial relief – including options to prevent foreclosure or eviction – in an attempt to steal personal information, money, or other property. These ”imposter” scams may involve a technique called “spoofing,” in which a criminal disguises a letter, email, display name, phone number, text message, or website to convince a target that they are interacting with a known, trusted source.

  • Tips to avoid being a victim to “spoofing”
  • Beware of loan modification scams


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