Can filing for chapter 13 save my house? 11 Answers as of April 29, 2015

My husband and I fell behind on our mortgage. We have been going back and forth with a mediator. We were denied emap from the state. Can we still file 13? We have not been to court yet other than to meet with mediator.

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GARCIA & GONZALES, P.C. | Richard N. Gonzales
Yes. Must file before the foreclosure sale.
Answer Applies to: Colorado
Replied: 4/29/2015
A Fresh Start
A Fresh Start | Dorothy G Bunce
Many people chose to file chapter 13 to provide them with up to 5 years to bring their mortgage payments current, but this help comes with a big price tag. You will have to demonstrate that you can afford to do this, you will have to pay your ongoing mortgage and a partial payment towards catching up on the past due mortgage through the office of the bankruptcy trustee, and the bankruptcy trustee will be paid a commission on every dollar you pay through their office. Chapter 13 is your last chance, so be sure to have quality representation because if your case falls apart, a second chance may not be available.
Answer Applies to: Nevada
Replied: 4/29/2015
Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
Under the right circumstances Ch. 13 can save your home. I have done it for perhaps 60 clients over the years. The right circumstances are that you can propose a feasible plan that will pay all the arrearage (including late fees and attorney's fees) over 60 months. The total arrearage is often something like 20% more than the total of unpaid monthly payments. You would be well-advised to retain an experienced bankruptcy lawyer who can advise and represent you. Our firm does this kind of work, and so do several dozen lawyers in this general area. Good Luck.
Answer Applies to: Wisconsin
Replied: 4/29/2015
The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
Yes a chapter 13 allows you to make up all your back payments over 60 months and to start making current payments again. Most judges allow you to also submit for another loan modification but that is judge specific in your district.
Answer Applies to: New York
Replied: 4/28/2015
Tokarska Law Center
Tokarska Law Center | Kathryn U. Tokarska
It might be an option. Hard to say without understanding your details. There are basic 3 main qualifications for C13 - you have to have regular income, you have to propose in good faith a feasible payment plan, your debts must be below certain limits. Please consult a local bankruptcy attorney, I'd chose someone who has done at least 10 chapter 13s before, 20-30 cases is even better. They are going to need to understand your financial picture before they can advise you. They'll want to know things like: household size, current monthly income, living expenses, amounts and types of debts, what assets you own, how much they are worth, current balances on mortgages and other secured debt obligations, HOA fees, property taxes, important stuff like that.
Answer Applies to: California
Replied: 4/28/2015
    Patrick W. Currin, Attorney at Law | Patrick Currin
    It depends. A 13 will allow you to make your current payment and pay off the back debt over 5 years. If you can't afford that, then no.
    Answer Applies to: California
    Replied: 4/28/2015
    Ronald K. Nims LLC | Ronald K. Nims
    Yes, you can file Chapter 13. You can file Chapter 13 and save your house up until the day before the sheriff's sale.
    Answer Applies to: Ohio
    Replied: 4/28/2015
    Stephens Gourley & Bywater | David A. Stephens
    You can file chapter 13 to get a stay of foreclosure, but your plan will have to provide a way to come current on the mortgage unless it is a second that can be stripped off.
    Answer Applies to: Nevada
    Replied: 4/28/2015
    Garner Law Office
    Garner Law Office | Daniel Garner
    You always have the right to file chapter 13, but whether it would achieve your objectives is a more difficult question which you will need to discuss with an experienced bankruptcy attorney.
    Answer Applies to: Oregon
    Replied: 4/28/2015
    Marc S. Stern
    Marc S. Stern | Marc S. Stern
    You can still file a chapter 13 and propose a plan. Filing a Chapter 7 will slow down the foreclosure but it will not stop it. If your goal is to save the house, unless you and the lender can agree to something a Chapter 13 is the only way to do it.
    Answer Applies to: Washington
    Replied: 4/28/2015
    Bensamochan & Poghosyan LLP | Eric Bensamochan
    You can probably file for Chapter 13 regardless.
    Answer Applies to: California
    Replied: 4/28/2015
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