Avoid Foreclosure in Kentucky
Bankruptcy
Click here for your free
Bankruptcy & Foreclosure
Manual.
Every year 1-2 percent of the population files
bankruptcy often to avoid foreclosures. Unfortunately just as there are scams to
take your home there are attorneys which will attempt to put you
into the bankruptcy that will make them the most money.
To avoid foreclosure you need to know which bankruptcy to file. Sometimes you
may actually have to file both a Chapter 7 and a Chapter 13 to
avoid a foreclosure. That is why we wrote our bankruptcy
manual to help you to avoid foreclosure. A
mortgage company may refuse workouts or payments
but if you can afford to catch up the payments within 2 years
you can file a Chapter 13 and force a stop to your foreclosure.
If you are substantially in debt to unsecured lenders you
may need to file
a Chapter 7 to avoid a foreclosure. That is why it is important to call an
attorney as soon as you receive notice of foreclosure.
If your second mortgage has no equity you may even be able to
completely destroy or eliminate a second mortgage by
filing a Chapter 13.
Many people file the Chapter 13 and then are
able to qualify within a year for refinancing their home at a
prime interest rate. Presently this is at about 5.00 per cent in
February-2011
If you want to avoid a foreclosure in Kentucky see us for
help.
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