In Rem & Mortgage Foreclosures

Sometimes people are unable to pay their property taxes or mortgage that can result in the government, or the bank foreclosing on them.

If you are behind in your property taxes, and have been advised by the taxing authorities that your house is going up for sale at auction in the next in rem foreclosure sale, a Bankruptcy can save your home so long as your bankruptcy petition is filed before the auction. The Bankruptcy can save your home because there is a provision in the bankruptcy law called the "automatic stay" that stops the tax sale as soon as your file for bankruptcy. The automatic stay applies in both Chapter 7 and Chapter 13 cases, but it will take a Chapter 13 to save your home in the long run by paying the back taxes over time through a three to five year payment plan.

Owning a home is the part of the American Dream, and it generally takes years of hard work to finally get a place of your own, only to find out that you are at risk of losing it. If you have mortgage arrears, and the bank is threatening foreclosure, do not stress. There’s hope for homeowners facing foreclosures in the Buffalo NY area. If you’ve lost your job, sustained a severe injury, or suffered a serious illness, causing you to get behind on your mortgage, call Foreclosure Attorney Stephen K. Underwood at 716-656-7676. Keeping your home may take some effort, but there are several ways you can prevent foreclosure with the help of an experienced attorney. So long as you have a job, a Chapter 13 Bankruptcy may be the answer to your prayers.

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in rem and mortgage foreclosures

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