Considering Foreclosure & Bankruptcy

When your income drops, the paychecks may stop coming, but the bills don’t. You’re legally obligated to pay all debt, but when you don’t have enough money to cover your monthly expenses and pay your creditors the minimum amount due, you face some tough decisions. If you owe a large amount of money and your creditors will not accept reduced payments, you may have to consider your option of last resort – personal bankruptcy.

It is an unfortunate reality that some homeowners will fall behind on their payments. Learning more about your options may help prevent getting to that point. And if you do get behind on your mortgage, find out more about working with your lender

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