Are you facing a foreclosure and considering
bankruptcy as a possible solution? If so, I have some information you may want to hear
before you file. Hi, I’m Jim Keaveney of Keaveney Legal Group,
we’re a law firm servicing Pennsylvania and New Jersey. We focus a portion of our practice
on helping people avoid foreclosure. While bankruptcy can be an attractive solution for
resetting your financial life, it may not be the best option for avoiding foreclosure
and keeping your home. Even if it is the path you choose, there are some other things to
consider, as well. Depending on the type of bankruptcy you declare,
you may end up having to sacrifice your home. While any bankruptcy will delay foreclosure
proceedings through a process called an “automatic stay,” that delay may be relatively short
lived. You will still have to find a way of paying your mortgage payments after the bankruptcy,
otherwise you could still face foreclosure. What’s worse, in some instances you may have
to sacrifice the home in bankruptcy to satisfy your creditors. In other words, you may discharge
the debt, but still end up losing your home. If possible, a better alternative may be to
seek a modification of your home loan. You can reduce your payments and make it more
affordable and practical
for you to remain in
your home. While it is not impossible to get both a bankruptcy
and then a loan modification, it may complicate things for you. If you included the mortgage
in your bankruptcy, you may have to go through what’s called a “reaffirmation process,” where
the bank asks you to reaffirm the debt, in connection with the modification. Also, your
eligibility for certain government-backed loan modification programs may be delayed
or barred entirely by the bankruptcy filing. As a result, you may want to investigate loan
modifications before declaring bankruptcy in order to avoid these potential complications. To learn more about the advantages and disadvantages
of bankruptcy in relation to your mortgage, you should contact an experienced, qualified
attorney. At Keaveney Legal Group we help homeowners avoid foreclosure everyday, and
we would welcome the opportunity to speak with you about your case. You can reach us
by calling 1-800-219-0939 or via email at [email protected] I’m Jim Keaveney;
have a great day! Pittsburgh Office
Phone: (412) 927-3866 301 Grant Street, Suite 4300
Pittsburgh, PA 15219 Philadelphia Office
Phone: (215) 710-0713 1650 Market Street, Ste. 3600
Philadelphia, PA 19103 Iselin Office
Phone: (732) 733-6025 33 Wood Avenue South, Suite 600
Iselin, NJ 08830 Mt. Laurel Office
Phone: (856) 270-7292 309 Fellowship Road, Suite 200
Mt. Laurel, New Jersey 08054 Basking Ridge Office
233 Mt. Airy Road, 1st Floor Basking Ridge, New Jersey, 07920
908-926-6884 East Brunswick Office
197 State Route 18 South, Suite 3000 South Wing
East Brunswick, New Jersey, 08816 732-733-6025 Hackensack Office
411 Hackensack Avenue, 2nd Floor Hackensack, New Jersey, 07601
201-417-9588 Jersey City Office
Harborside Financial Center 2500 Plaza 5, 25th floor
Jersey City, New Jersey, 07311 201-417-9588 Parsippany Office
2001 Route 46, Waterview Plaza, Suite 310 Parsippany, New Jersey, 07054
973-559-6787 Princeton Office
103 Carnegie Center Drive, Suite 300 Princeton, New Jersey, 08540
609-751-0398 Red Bank Office
125 Half Mile Road, Suite 200 Red Bank, New Jersey, 07701-6749
732-733-6025 Short Hills Office
51 JFK Parkway, First Floor West Short Hills, New Jersey, 07078
973-559-6787 Totowa Office
999 Riverview Drive, 2nd Floor Totowa, New Jersey, 07512
973-559-6787 Woodcliff Lake Office
50 Tice Blvd, Suite 340 Woodcliff Lake, New Jersey, 07677
201-417-9588 We also do business in and around: Jersey
City, Paterson, Elizabeth, Edison, Woodbridge, Lakewood, Toms River, Hamilton, Trenton, Clifton,
Camden, Brick, Cherry Hill, Passaic, Middletown, Union City, Old Bridge, Gloucester, Township,
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Brunswick. To Learn more about this topic, and others,
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