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Delinquent Mortgage & Chapter 13

Home » Videos » Delinquent Mortgage & Chapter 13

This is Roger Ghai, and I want to talk this morning about what you do if you are behind on your mortgage payments, and you do not wish to file a Chapter 13 bankruptcy plan. You can always go ahead and try to catch up on the mortgage payments and work it out with your mortgage company to avoid filing any type of bankruptcy. But if that’s not possible, you may need to consider filing a Chapter 7 bankruptcy case. The Chapter 7 bankruptcy case is not going to help you a great deal with your mortgage payments, but at least it can buy you some time.
So to give you an example, let’s say that you’re four or five payments behind on your mortgage and that you’ve just lost your job. You really don’t have, in this circumstance, the financial means to be current with your payments or catch up. So if we file a Chapter 7 bankruptcy case, usually we do a little bit of a timing for the client to buy the client as much time as possible. And what I mean by that is this, that we would file the case. That will invoke what we call the automatic stay provisions of the bankruptcy code, which will preclude, it’ll stop entirely the creditor mortgage company from immediately kicking you out of the residence.
And then it’ll put the burden back on the mortgage company to file what we call a motion for relief from the automatic stay in the bankruptcy court. They have to first file that motion and get that motion and hearing scheduled before the bankruptcy judge so that the bankruptcy judge can determine or can actually order that the bankruptcy protection, what you’ve been afforded by the filing of your bankruptcy case, is lifted as to this creditor. And then what’ll happen is a mortgage company will have to advertise your property in the state of Georgia, and I’m speaking only about what the rules and laws are and the regulations are in the state of Georgia, for four weeks and four weeks in, there are some other details to it, but for the most part for approximately four weeks. And then they will be able to actually foreclose on your property.
So with that being said, it is a good way to buy you maybe 30 … Well, no, at least 30, but probably more likely 60 to 120 days so that you can stay in your residence to find other housing. So if you have any questions about maybe the timing of filing a Chapter 7 bankruptcy case, and you’re in a situation where perhaps you don’t have a lot of equity in the home, and it just makes sense to buy as much time as you possibly can and use the advantages that you can in a Chapter 7 case, then call my office at some 770-792-1000.

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Good Morning, this is Roger Ghai of www.Chapter7attorneys.com. I wanted to do a little informational video on bankruptcy options. In particular, Chapter 7 bankruptcy options and Chapter 13 bankruptcy

Filing Chapter 7 Bankruptcy – January 2010 Talk Law Radio Show Transcript

Janice: Good afternoon Atlanta and welcome to News & Talk 1380 WAOK. This is Janice Mathis and we’re here this afternoon and every Sat. afternoon at 1pm to talk with one of our lawyers who’s

Difference Between Chapter 13 & Chapter 7 Bankruptcy – March 2010 Talk Law Radio Show Transcript

Janice: Good afternoon Atlanta and welcome to Legal Talk. This is Janice Mathis. This is my favorite hour of the weekend. I learn something new every weekend talking to these brilliant lawyers we have

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The injunction is formally issued pursuant to 11 U.S.C. 362(a), commonly referred to as the Automatic Stay provision of the bankruptcy code, and it prohibits creditors from making further attempts to

Can Your Home Be Sold In Bankruptcy If You Don’t File Bankruptcy But Your Spouse Files Bankruptcy?
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In a recent case, In re Beck Mrs. Beck filed for bankruptcy protection but her husband did not. Together they owned a property which was valued at about $530,000.00. The property had actually been in

Can You Claim A Homestead Exemption In A Home You Do Not Live In?
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The Chapter 7 trustee objected to Mrs. Goulakos’s claim of exemption because she did not live in the house and because she was not the one who claimed the homestead exemption under Massachusetts

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    Can Creditors Be Sued For Trying To Collect Debt After You File For Bankruptcy

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      Ghai Law Firm
      Call for a free consultation:
      (770) 792-1000

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      LAW OFFICES OF ROGER GHAI

      1301 SHILOH RD NW STE 430

      KENNESAW GA   30144

      Mon-Fri: 9AM - 6PM

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      • ABOUT
        • Testimonials
        • Join Us
      • Practice Areas
        • Personal Injury
          • Pedestrian Accident
          • Car Accidents
            • Speeding Accident
            • Drinking and Driving Accidents
            • Left Hand Turn Accident
            • Rear-End Collision
            • Reckless Driving Accident
            • Uber Accidents
            • Hit-and-Run Accidents
            • Texting and Driving Accident
              • Texting and Driving Under 18
          • Truck Accident
            • Lane Usage Accident
            • Traumatic Brain Injury
          • Product Liability
            • Defective Drugs
            • Defective Medical Device
          • Premises Liability
            • Slip and Fall Accidents
          • Wrongful Death
          • Dog Bite
        • Bankruptcy
          • Debt Relief
          • Credit Card Debt
          • Chapter 13 Bankruptcy
          • Chapter 7 Bankruptcy
          • Foreclosure Bankruptcy
          • Free Legal Case Review
          • Medical Bills Bankruptcy
          • Rebuild Your Credit
          • Wage Garnishments
      • Areas We Serve
        • Kennesaw Personal Injury Lawyer
          • Kennesaw Bankruptcy Lawyer
        • Acworth Personal Injury Lawyer
          • Acworth Bankruptcy Lawyer
        • Marietta Personal Injury Lawyer
          • Marietta Bankruptcy Lawyer
        • Smyrna Personal Injury Lawyer
      • FAQs
      • Blog
      • Videos
      • Contact