Would Chapter 13 Bankruptcy Be Able to Stop Home Foreclosure?
Having foreclosure trouble is not something that one would want to face in life. A humiliating experience to say the least, you could end up being dumped out of your home and ending up homeless! Hardly an appealing thought, especially if you have children at home! People have tried to stop foreclosure by making use of several options in the past such as scheduling a hearing at the foreclosure court, using the hardship letter for negotiations with the lenders, refinancing their homes at better rates and terms, and some even end up engaging in the services of debt management agencies to help them sort of their financial issues! However, all of those plans are not fool-proof, for instance if you are planning to take up the Mortgage Modification Plan from the President’s office, knowing that only 4% have had their applications approved would undoubtedly deter many from taking up this option! Hope is still there however, because if all of these do not work, there is one last option availabl
