How do I handle foreclosure with bankruptcy?

00:03 hi my name is Robert Geller and I am a
00:07 consumer bankruptcy lawyer in the Tampa
00:10 Bay area and today I would like to talk
00:14 to you about how you can handle your
00:17 foreclosure by following bankruptcy so
00:21 first I want to talk to you about maybe
00:24 you don’t want your house maybe you want
00:26 to get rid of your house maybe you too
00:28 much on it and you can’t afford it and
00:31 you just want to move on well you can
00:33 file a chapter 7 bankruptcy assuming you
00:36 qualify and a chapter 7 bankruptcy will
00:40 get you a bankruptcy discharge and a
00:43 discharge means that you don’t owe the
00:45 mortgage debt anymore and the mortgage
00:47 company can never collect from you for
00:50 the money you borrowed to buy the house
00:51 so let’s say your house is worth
00:54 $100,000 and let’s say that you owe
00:58 $200,000 maybe you even have a second
01:00 mortgage that you owe 70 so let’s say yo
01:02 270 on the house well you can file a
01:05 chapter 7 if you qualify and get your
01:08 discharge in a period of 3 months and
01:10 you can move on and then you can work on
01:13 rebuilding your credit in a couple of
01:15 years you may be able to get back to a
01:17 720 credit score and generally within
01:19 two years of filing bankruptcy a chapter
01:22 7 you can buy a new home so chapter 7 is
01:26 really potentially a good vehicle for
01:29 getting rid of your home but maybe you
01:31 want to keep your house
01:32 most of my clients do you want to keep
01:34 their house some people experience a job
01:37 loss for a period of time and they’ve
01:39 got behind on their payments or they’ve
01:42 had some health issues or something
01:45 that’s kept them from making their
01:46 payments so chapter 13 is generally a
01:49 repayment plan over a period of three to
01:51 five years and what you can do with a
01:53 chapter 13 is there’s kind of two ways
01:56 that you can save your home one is over
01:59 a period of three to five years
02:01 you can catch up all the back payments
02:04 that you’re behind let’s say you’re
02:06 behind $12,000 on your house
02:10 and let’s say your mortgage is $1,000 so
02:13 if you’re behind 12,000 and you’re doing
02:16 a five-year plan which is 60 months you
02:19 basically would pay the 200 a month 200
02:23 times 60 would be equal 12 thousand and
02:25 that would catch you up over five years
02:28 of the back payments plus you would pay
02:30 the monthly mortgage payment of a
02:32 thousand that’s what we commonly call a
02:35 cure and pay chapter 13 plan and a lot
02:40 of the chapter 13s that I follow for
02:42 clients that’s what we do and I have
02:45 helped many many clients do that over
02:47 the years the next way you can keep your
02:52 home through filing a chapter 13 is may
02:55 be seeking a mortgage modification and
02:57 there’s all different types of mortgage
02:59 modifications there are some
03:01 modifications
03:02 where you have to pay a lump sum up
03:05 front and then resume payments there are
03:08 some modifications where you can
03:10 actually reduce your monthly payment in
03:12 the interest rate and some of the
03:14 whatever your behind the mortgage
03:16 company can put in the back up back in
03:18 and sometimes a mortgage company will
03:20 even forget a period portion of what you
03:25 are behind on your mortgage if you need
03:28 more information about filing bankruptcy
03:31 click on the link on the link and we’ll
03:35 be glad to provide you more information
03:37 my name is Robert Keller and I want to
03:40 help you build a bridge to a brighter
03:42 future
03:47 you

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$Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

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$Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G

St. Petersburg, FL 33701
T: (727) 532-3939

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Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

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At the Tampa Bay law firm, the Law Offices of Robert M. Geller, P.A., we help people with consumer bankruptcy matters in the Tampa Bay-St. Petersburg,  Florida communities such as Clearwater,     St. Petersburg, Tampa, Thonotosassa, Riverview, Lutz, Plant City, Brandon, Carrollwood, Wesley Chapel, St. Petersburg Beach, Lakeland, Mulberry, Dade City, Pinellas Park, Largo, Seminole, Odessa, Oldsmar and Lithia, and counties such as Hillsborough County, Pinellas County, Pasco County, Polk County and Manatee County.