Legal Question in Bankruptcy in New Jersey

Re: Will Bankruptcy Stop the Eviction and save Our Home?

The short answer is "Yes, Bankruptcy will Stop the Eviction ". From the limited information you have provided it sounds like you may benefit from a Chaptr 13 Bankruptcy. A Chapter 13 Bankruptcy will in many cases allow someone who has an income and a financed asset such as a home put an immediate stop to the repossesion or foreclosure. After filing the bankruptcy, the foreclosure would be stopped. You would then develope a payment plan to repay the arrears over 3-5 years while continuing to make your regular mortgage payments. After being approved and confirmed by Bankruptcy Trustee, the mortgage company or bank must accept the payment plan. Thereafter, as long as you are regular in paying both your regular mortgage payments plus your monthly payment on the arrears under your plan, you could "save" your home. However, please be advised that I am only providing general information which may not apply specifically to you. Only after retaining an attorney and a careful review of your entire situation can a determination be made as to whether Bankruptcy is appropriate for you or if you can "save" your home. If you would like to discuss the matter further, please call me ( anytime, including weekends) at my New Jersey Office :(201) 459-0545.