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Foreclosure and Bankruptcy

Foreclosure and Bankruptcy

If a debtor fails to make all required mortgage payments, the lender may file a foreclosure action.  The purpose of the foreclosure action is to obtain court approval to sell the property in order to pay the defaulted mortgage loan. 

Upon filing for bankruptcy, the lender must immediately stop the foreclosure process.  In Chapter 7 case, the filing will temporarily stop the foreclosure action.  In a Chapter 13 case, the bankruptcy filing will allow the debtor to propose a feasible plan to repay the default amount of the loan.

If you have questions about foreclosure and bankruptcy, call us for a free consultation.

Contact Us

Law Office of Timothy Brown is committed assisting individuals in need of Debt Relief, Bankruptcy Litigation, Chapter 7, Chapter 13, Creditor Harassment Defense, Debt Collection Defense, and Foreclosure law issues in Illinois.

We will discuss your case with you at your convenience. Contact us today to schedule an appointment.