Call us before you file Chapter 13!.
If you are currently in a Chapter 13 Bankruptcy and paying large mortgage arrears in your Chapter 13 plan, we maybe still be we maybe able to lower your Chapter 13 plan payment , or allow you to get out of Chapter 13 totally.
Find out way the Ultimate Combination maybe Both a Loan modifications and a Chapter 13.
CHAPTER 13 ADVANTAGES
1. Creates an “Automatic stay” upon filing to stop collection actions of all creditors, including foreclosures.
2. Arrears are paid back in 60 months at no interest with no changes to the loan. ( You must also continue to make regular loan payments also)
3. If there a second lien on the home and the home is worth less than the first lien, the second lien and be stripped off, however you must complete Chapter 13 ( up to 60 months) for lien strip to be effective.
LOAN MODIFICATION ADVANTAGES
1. Missed payments moved to the end of the loan rather than having to be paid back along with regular payment.
2. Interest rate can be lowered or changed from adjustable rate to fixed rate.
3. Monthly payment can be lowered.
4. Reduction in late fees or penalties.
5. Lengthening the loan .
6. Capping the monthly payment to a percentage of household income
*These are examples and not all options are available in every case.
THE BEST WAY TO SOLVE YOUR LOAN PROBLEMS
Contact Galler Law Now 770-671-8830 or go to our contact make now.