I Owe More Than My House is Worth and I am Waiting on the Bank to Threaten Foreclosure - What Can a Homeowner Do?

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The United States is going through one of the worst recessions since the Great Depression. Bankruptcy filings have increased, unemployment is high and home values have decreased exponentially since 2007 highs. Many home owners are finding they have a lot of debt, a house that is not worth what they owe, no ability to refinance and no ability to sell a home because they owe more than it is worth.

It may seem like a home owner is left with no option except to quit paying their mortgage, allow a foreclosure and file bankruptcy. However, if the home owner has the ability to avoid bankruptcy if the house could go away there should be options besides bankruptcy and at Wischmeyer Law Office we help homeowners with such solutions.

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Topics:  Chapter 13, Deed-in-Lieu of Foreclosure, Foreclosure, Mortgages, Short Sales

Published In: Bankruptcy Updates, Residential Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Jason Wischmeyer | Attorney Advertising

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