How Can Filing Bankruptcy Stop the Foreclosure Process?

Let me tell you about a newly wedded couple named Jamie and Carl who were contemplating filing bankruptcy to stop the foreclosure procedure. 

They had just graduated from University.  Boy were they saddled with high student loans.

They had just entered the initial stages of the foreclosure procedure on their two bedroom home which they purchased two years ago.  Now that was a chilled and scary procedure…  Don’t you think? 

Their lawyer suggested they file for bankruptcy to completely stop the foreclosure procedure. But can filing bankruptcy stop the foreclosure procedure?  No, not really!  Isn’t it amazing that their lawyer just didn’t know that?

You’d be amazed at all the bad advice people are getting these days.  That’s why I’m so committed to doing something to change that. 

Can you imagine people who actually believe that by filing bankruptcy the debt against your house is no longer your responsibility?  Can you imagine just how lost they really are?

Somehow you can keep the house and still escape having to pay the bank or lender!  Right!  Jamie and Carl had one real problem. 

They had not yet found work within their field of study and they wanted to ensure they paid their student loans on time so they didn’t ruin their credit.  Can you see yourself in their situation?

So far they had no jobs in their respective fields.  Both of them were working on two part-time jobs and they were feeling really over worked and stressed with very little to show for their efforts. Jame and Carl came to me with their problem after they consulted their attorney.  Here’s what I told them.

By following your lawyers “DUMB ADVICE…” You will have a bankruptcy filed against you that will damage your credit report for the next 10 years.  Is that what you really want? 

Also you will find it harder to get financing for a new mortgage and harder to get credit in the future.  That certainly won’t give you a head start in life will it?  Furthermore you may be back in foreclosure within three months and then you will still find yourself  caught up in the foreclosure procedure anyway.

So filing bankruptcy may slow down but not stop the foreclosure procedure and it is really not a wise choice.  Since you are in a position to explore other more powerful options, filing bankruptcy may simply be a bandaid solution. 

If you’re reading this right now and see yourself in this story then you can probably understand why Jamie and Carl felt bankruptcy might be an option.   

They had heard that filing bankruptcy can save your house from the foreclosure procedure.  I repeat in case you missed it.  “FILING BANKRUPTCY TO STOP FORECLOSURE IS BAD ADVICE.”  

What they didn’t know was the real facts. You see, they fell behind on their bills and were desperate for a way out. But they were only in the initial stages of the foreclosure procedure. 

So in a sense they still had time.  They just needed help getting out of foreclosure.  But you can surely imagine how stuck they felt and how uncertain their future appeared to be. 

They just needed a way to create enough income to pay their bills.  They also needed a way to negotiate a better mortgage than the ARM they presently had. When they got the house two years ago they were well able to afford the payments then.  But they didn’t even understand what an ARM was all about.

So now that the ARM kicked in, their mortgage payments doubled.  To make matters worse they really didn’t understand the type of mortgage they had been sold. Their mortgage broker sort of pulled a fast one on them! 

Now Jamie and Carl were stuck with an rising ARM, low wages and a three month deadline to catch up on their arrears and save their home. But what do you do when you are really in need of financial help and advice?

Where can you really turn for help? Perhaps you have been stuck like this before.  And what makes matters worse is the myriad of people who are constantly bombarding you with BAD OPTIONS and POOR CHOICES and WRONG ADVICE!

One such choice is to File for Bankruptcy In An Attempt to Save Your House. This is not a real solution. My advice to Jamie and Carl was to seek a loan modification while in the initial stages of the foreclosure procedure.  All the cards were in their favor for this option. 

They still had relatively good credit and they were bringing in some income every month.  They just didn’t have enough to catch up on their arrears, stop the foreclosure procedure and still maintain the ARM they had on their house. 

Now I knew they were not able to complete all the steps for a loan modification by themselves.  So I strongly encouraged them to get the help and assistance of a powerful organization I’ve partnered with.  I’m talking about the Loan Negotiator Group. 

The Loan Negotiator Group is just that. 

• They are a powerful group of experienced and professionals Loan Negotiating Experts. 
• They already have a relationship with most of the banks and lenders in the mortgage industry. 
• They know and understand the foreclosure procedure and foreclosure law. 
• They know how to talk to the lenders and bankers and successfully workout a loan modification on behalf of their clients.  

So I had them do just what I’m asking you to do.  Click on the link that says Loan Negotiator Group and take a minute to fill out the form.  In a short while someone from the Loan Negotiator Group will contact you and get more information from you. 

For a limited time you can get advice just like Jamie and Carl for free from me, the Foreclosure Doctor (Online).  I’m offering a free phone consultation  to help you navigate your foreclosure procedure. 

I will hear your story and point you in the right direction. In the top right hand column of this blog simply enter in your phone number where it says “Call FDO” and you will be connected to my office free of charge!

During our phone conversation I will pull from my arsenal of real, longterm solid solutions to help stop the foreclosure procedure for you. Just fill out the form at the top right hand side of this blog at Foreclosure Doctor Online with your phone number and you will be connected.

The Foreclosure Doctor (Online)