Many people today owe more than their home is worth and would like to get out from under their substantial mortgage debt. Bankruptcy may help you get rid of your obligation to repay the mortgage debt owed. Bankruptcy may help you get a fresh start so that the mortgage company or companies cannot ever again collect the money owed.
At the Tampa Bay law firm, the Law Offices of Robert M. Geller, P.A., our lawyers advise people who are on the verge of losing their homes about their options. An important part of our discussion is talking with people about the effect bankruptcy will have on their ability to keep or get rid of their homes, and talking with them about imminent foreclosure actions.
Getting Rid of Your Home and the Mortgage Under Bankruptcy
When filing Chapter 7 bankruptcy, you may be able to discharge the mortgage debt. That means that you will never have to pay it back, and that the mortgage company cannot collect the money from you. Additionally, you may be capable of residing in the home until the foreclosure sale, without making payments. Not only does this provide for a temporary mortgage-free place to stay, it enables many people to get the fresh start they need to purchase a more affordable home in the near future after they have re-established credit.
Our Tampa bankruptcy attorneys at the Law Offices of Robert M. Geller, P.A. thoroughly assess the situations of clients and advise them of all their options based upon their specific situation. Some clients may believe their ultimate objective of eliminating certain financial obligations can only be achieved by surrendering the home. However, our attorneys educate clients of legal strategies that may be available to them, such as petitioning to eliminate a second mortgage or home equity line of credit through Chapter 13 bankruptcy. For some clients, this provides the financial remedy necessary that enables them to keep their home and catch up on delinquent payments.
Contact a Tampa, Florida, Bankruptcy Lawyer
To learn more about your options on your home, contact our Tampa law firm. Call us at 813-254-5696 to schedule a free initial consultation. Attorney Robert M. Geller is a certified specialist in Consumer Bankruptcy Law by the American Board of Certification *.
Visit our bankruptcy information center to learn more.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
* Accredited by The Florida Bar to certify lawyers in the specialty area(s) of consumer bankruptcy law.