Bankruptcy Can Stop Your Florida Home Foreclosure

No one wants to file bankruptcy. However, if you are behind on the mortgage payments or already in foreclosure proceedings, it may be the only surefire solution for saving your home. You need to explore your options with a bankruptcy lawyer, especially before wasting time and money chasing loan modifications and other non-guaranteed “solutions.”

The law firm of Stamatakis + Thalji + Bonanno practices exclusively in foreclosure defense, bankruptcy and debtor solutions. We can help you explore catching up on mortgage arrears through Chapter 13 bankruptcy or buying time for alternatives via Chapter 7 bankruptcy.

Based in Tampa, Florida, we represent homeowners in Hillsborough, Pasco and Pinellas counties and statewide. Contact us today for a free initial consultation.

Tampa Bankruptcy and Foreclosure Defense Attorneys

Our experienced lawyers have helped hundreds of clients avoid foreclosure through bankruptcy. We also provide foreclosure defense by answering the mortgage company’s complaint and asserting affirmative defenses. Bankruptcy is not always the answer, but it does offer distinct advantages:

  • Foreclosure relief — Chapter 13 bankruptcy may allow you to stay in your home and catch up on the arrears over several years. Chapter 7 bankruptcy can put foreclosure on hold temporarily while you work with lenders or Realtors.
  • Creditor relief — The automatic stay of bankruptcy extends to wage garnishment, bank levies and collection actions, so that your money can go toward the mortgage.
  • Debt relief — By discharging unsecured debt, you will get your finances back on track and be able to afford your home.
  • Lien stripping— If you are “underwater” on your mortgage (owing more than the home is currently worth), you may be able to discharge second and third mortgages, such as home equity loans.

Is Bankruptcy My Only Option?

There are other strategies to save your home or cut your losses. For example, responding to the foreclosure complaint and raising legitimate defenses may provide time to negotiate a workout, qualify for loan modification, sell your home for a decent price or arrange a short sale. The problem is that there are no guarantees that the lender or mortgage company will “come through” for you or that you will be able to unload the property without still owing a lot of money.

Bankruptcy provides guaranteed relief from foreclosure as long as you can stay current with the mortgage and keep up with the Chapter 13 payment plan. However, we will advise you of all your mortgage relief options in lieu of — or in conjunction with — bankruptcy.

Take Action Today to Avoid Foreclosure

You cannot wait too long to save your home. Bankruptcy must be filed prior to the scheduled sale date, and the sooner the better. We will answer all your questions about bankruptcy and foreclosure, and we will give you the knowledge to make informed decisions about your options.

President Obama and the U.S. Congress has designated our offices a Federal Debt Relief Agency because we help people file for bankruptcy. See our frequently asked questions and bankruptcy timeline pages for more background about the pros, cons and applications of bankruptcy. To discuss your specific circumstances and all the ways Stamatakis + Thalji + Bonanno can help, call us at 866-479-6946 or contact us online.