When you are behind on your mortgage payment, there's a good chance you are worried about losing your home, and this can be a terrifying thought. After all, it is where you have always imagined yourself growing old. Now, you have fallen behind on your mortgage and the bank is threatening foreclosure. Before you get too discouraged about the walls closing in around you, set up an appointment with Chang and Carlin Schaumburg home foreclosure attorney. Someone will meet with you to talk about this process, explaining everything that must be done first. If you decide that you would like to file a bankruptcy in order to save your home, your attorney will get started with the necessary paperwork right away.

It is crucial for you to understand that you don't want to wait to get started with this process. If you wait too long, there's a good chance that it will be too late. Meet with your lawyer to talk about the amount of money that you are behind on your mortgage payment. Additionally, you probably have other debt, too. If this is the case, you be able put it on your bankruptcy so that you are free from it.

When you file a bankruptcy on your home, typically a chapter 13, it doesn't mean that you are going to walk away without any debt. Instead, it means that you are going to basically consolidate your debt into one monthly payment. The amount of money that you are behind on your mortgage payment will be added to the end of your loan. However, you need to be very careful with making your monthly mortgage payment on time each month. If you are late, you could be putting yourself in danger of losing your home.

Chang and Carlin Schaumburg bankruptcy attorney will be happy to walk you through this process. They are going to make sure that you understand everything that is happening. This way, you can make an informed decision as to whether or not a bankruptcy is the right choice for you. This is an excellent way to relieve some stress from your shoulders.