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Our Attorneys Can Help You Protect Your Home During Foreclosure

For homeowners struggling with significant debt, foreclosure quickly becomes a real possibility as mortgage payments go unpaid and debt burdens only worsen. At Gentry Arnold PLLC, we help individuals and families in Memphis and throughout western Tennessee understand their options for saving their homes through Chapter 13 or Chapter 7 bankruptcy.

Should I Be Considering Loan Modification Or Bankruptcy?

There are numerous steps to the foreclosure process. In many cases, a lender won’t take foreclosure action until you miss several payments that gives you time to explore alternative measures — such as loan modification — to save your home. Our attorneys can explain your options while helping you avoid loan modification scams.

Two options for stopping or at the very least delaying foreclosure are Chapter 7 and Chapter 13 bankruptcy. When you file for bankruptcy, an automatic stay goes into effect and your creditors are required to cease all collection activities. If your lender wishes to proceed with the sale, they must obtain permission from the bankruptcy court or wait until your bankruptcy proceedings are complete.

Chapter 13 offers homeowners with a steady income the opportunity to hold onto their homes by making regular payments over a period of three to five years. If you can keep up with your current mortgage payments while paying off the arrearage, you may avoid foreclosure and hold onto your family’s most valuable asset.

Helping Memphis Families Stop Foreclosure Actions

If you are struggling with debt and have missed multiple mortgage payments, reach out to our attorneys at Gentry Arnold PLLC to discuss your options during a free initial consultation. You can speak to one of our bankruptcy lawyers by calling 901-591-8800 or by completing our online contact form.

We are a debt relief agency. We help people file for bankruptcy under the U.S. Bankruptcy Code.