Home Foreclosure in Seattle

Falling behind on debt can mean falling behind on your monthly mortgage. If you continue to miss payments, you could face the very real prospect of losing your home to foreclosure. Filing for bankruptcy may offer a means by which you can save your home, and even protect up to $125,000 of your equity.

Many homeowners fall behind on mortgage payments because of other crushing debts like medical bills or credit card obligations. Others miss work due to illness or circumstances beyond their control. Sadly, debt collectors only contribute to the problem by employing morally dubious practices to retrieve money that include harassment, or even threats.

Take heart, because you may be able to save your home from foreclosure with help from one of our Seattle bankruptcy lawyers. Finding out is easy; simply contact one of our bankruptcy attorneys in Washington State for a free consultation.

• Chapter 7 and Chapter 13 bankruptcy stops foreclosure
• Filing for Chapter 7 bankruptcy may provide you with enough time and financial relief to get caught up on house payments
• Chapter 13 bankruptcy allows you to consolidate your debt to repay mortgage arrears over a five year period
• Find out if you can stop foreclosure by contacting one of our Seattle home foreclosure attorneys today

If you want to stop a foreclosure on your home, you owe it to yourself to speak with a Seattle bankruptcy lawyer who can help you determine the best course of action based on your current financial situation. The vast majority of homeowners who fall behind on their mortgage are honest, hard working people that find themselves facing unexpected financial hardship through no fault of their own.

Most homeowners are also unaware that bankruptcy laws were created to help them get back on their feet, save their home, and stop the relentless harassment from creditors who have absolutely no compassion for their hardship. If you'd like to find out if you can stop foreclosure on your home, contract our Washington law office and find out more about possible bankruptcy options.

Filing for either Chapter 13 or Chapter 7 bankruptcy will stop foreclosure on your home. However, your financial situation will largely determine which variety of bankruptcy is more viable. If your income is below the median level, filing for Chapter 7 bankruptcy may be your best option, but if your income is above this level, you may need to file for Chapter 13. A means test will help your Seattle home foreclosure lawyer make this determination.

You should realize that a Chapter 7 bankruptcy does not offer a long-term solution to home foreclosure. However, it can provide you with time to explore ways of getting caught up on your mortgage payments.

Conversely, Chapter 13 bankruptcy is often referred to as the "home saver plan," which underscores its effectiveness for stopping home foreclosure. With Chapter 13, your debt is consolidated into an affordable payment plan, allowing you to get caught up on back mortgage payments over a period of up to five years. Meanwhile, unsecured debt may be partially or entirely discharged by the court, which allows you to focus on maintaining mortgage payments, thus keeping your home.

Sometimes wage garnishment resulting from unpaid debt results in defaulting on mortgage payments. Filing for bankruptcy immediately eliminates wage garnishment, which may be all it takes to save your home from foreclosure.

The federal government created bankruptcy laws to help hard working Americans get out from under crippling debt. Our Washington State bankruptcy lawyers protect your legal rights and stand up to unscrupulous creditors on your behalf so that you can enjoy a fresh financial beginning. Contact our law office in Seattle today and find out if we can help you save your home from foreclosure.