Success Story – Homeowner Saved Possible Loss of Equity in Home – Over $200,000 with Chapter 13 Bankruptcy

Background:

Our client, because of bad litigation advice, was facing a judicial sale from a second mortgage lender that had a relatively small balance.

Challenges:

Because of the prior protracted litigation, the small bank did not want to work with the client through non-foreclosure means. The client had a large amount of equity but because of the pending foreclosure judgment, he could not tap into that resource or resolve the foreclosure which was heading to a looming judicial sale.

Result: 

After explaining the Chapter 13 bankruptcy process, we filed the client’s case just before the judicial sale was to occur and the client’s bankruptcy plan was confirmed. He saved the equity of over $200,000 in his home.