Texas Hit Hard By Foreclosures

June 26, 2009

It’s not a big surprise to people in San Antonio, Texas, (and the rest of the country) that we are in the middle of a foreclosure epidemic. Some states like Texas, California and Florida are suffering much more than others. But regardless of the reasons people are facing foreclosure–loss of income, slow business or mismanagement of finances–there is something homeowners can do to gain control and avoid losing their home. For many the best option is to file for a Chapter 13 bankruptcy. It will give you some control over your home loan and time to restore your finances.

When you file for bankruptcy in San Antonio, the lender cannot foreclose on or sell your home. A Chapter 13 bankruptcy also gives you the opportunity to repay any arrears so you can get caught up. You may even be able to lower your monthly payment by removing a second mortgage. Filing for bankruptcy will also keep any other creditors from taking action against your paycheck or assets. If your goal is to save your home, it is advisable you speak with an attorney experienced in bankruptcy law as soon as possible.

For a free consultation on how Chapter 13 can help you save your home, contact bankruptcy law firm, Fears | Nachawati, by calling toll free 1-866-705-7584 or by e-mailing info@fnlawfirm.com.

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