Hello, this is Jeff Kelly and today I want to talk to you about stopping a foreclosure in Georgia. Have you ever seen those movies where somebody is about to drown, and then at the very last second, somebody throws them I Lifeline Help Help. And then boom, here comes the floaty and they yank him out of the water. Could chapter 13 be your lifeline? Chapter 13 stops foreclosures of your home. I’m sure you’ve read about in the newspaper all over America, people are fighting foreclosures left and right trying to save their homes. You know, this is just the absolute worst economy we’ve ever faced people are struggling with their debts through no fault of their own. For many people, it’s because of a divorce or sickness or loss of job. And the good news is that the chapter 13 can help some people get back on their feet and save their house. So in this post here, I want to talk about people who it helps and people that it does not help.
If somebody has been out of work for a while, and they’ve got behind on their payments. Chapter 13 is a great tool for stopping the foreclosure, and allowing people to come up with a plan to catch those payments back up. But if somebody is in a situation where the mortgage payment is just too high, Chapter 13 may not be the answer. Because chapter 13 does not lower the future mortgage payments. What it does is, like I said, it helps you take your you know, your six months behind, we can take the six months you’re behind on and spread those out anywhere between three and five years to make it to make a plan, it’s workable. But for future mortgage payments, it’s not going to lower that. So if you’re in a situation where your mortgage payment is just too high. Again, this, this may not be the answer. However, a lot of people who struggle with high mortgage payments, find it a lot easier to make them if we wipe out all their medical debt, and if we can eliminate their credit card debt. So you know, some sometimes in those situations, Chapter 13, still still may be a good help.
It’s very important that that you understand that you just cannot wait until the last second. Because particularly in Georgia and Georgia, in order to foreclose on somebody’s house, all the creditor has to do is advertise the house for four consecutive weeks in the newspaper before the foreclosure date. And once that house is foreclosed, it is gone, we are not going to be able to get it back once it’s foreclosed, there is no right of redemption or redemption statute in Georgia. So it’s very important that you meet with an attorney don’t wait to the last second. Many times a well meaning banker or maybe somebody’s trying to refinance your house or say, Hey, don’t file bankruptcy. Don’t don’t don’t, you know, let me get this house refinance. Let’s see if we can work something out. And you know, tick tock, tick tock, time goes by the foreclosure date gets closer. And then right before the foreclosure date, the bomb explodes. And the banker calls up and says, Hey, I’m really sorry, you didn’t get approved, or Hey, I’m sorry, we can’t work with you. And the next day the house is gone.
It’s also important to understand that when you’re stopping a foreclosure, it’s, it is always best if your bankruptcy attorney has time to go over the entire situation and go over the budget with you. Don’t wait until the last second because there’s no guarantee that a bankruptcy attorney is going to be able to meet with you at the last second. So if you’re facing foreclosure, and you’re considering chapter 13, as an option to save your house, make that call today. If you want to call me You can reach me at 706-295-0030 if you got time, check out my website. I’ve got over 200 articles at www.Kellycanhelp.com that’s k-e-l-l-y-c-a-n-h-e-l-p.com. And if you’ve already been in chapter 13, and your case has been dismissed, you need to get into a bankruptcy attorney even faster. In the Northern District of Georgia in the road division. We have to file a motion to extend stay. And you know again that takes time and preparation. We just don’t want to let that slip by so act now. Call your bankruptcy attorney and stop that foreclosure. Have a great day.