Pearland, TX asked in Bankruptcy for Texas

Q: Do you do bankruptcy on mortgages? the mortgage company raised my payments 300.00 more, I can't pay this amount,

The company won't work with at all, I am scared to lose my home, I am a senior on SS, I have no choice but to file

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2 Lawyer Answers
Tammy Lyn Wincott
Tammy Lyn Wincott
Answered
  • Bankruptcy Lawyer
  • San Antonio, TX
  • Licensed in Texas

A: When you file bankruptcy for a mortgage it is generally a Chapter 13 to include the mortgage payments into the Chapter 13 payment - which means you have to be able to afford your regular monthly mortgage payment plus a Chapter 13 bankruptcy payment - you cannot just discharge a mortgage payment. If you are considering walking away from the house then that is a different scenario. You should speak with a bankruptcy attorney in private to discuss your options.

Timothy Denison
Timothy Denison
Answered
  • Bankruptcy Lawyer
  • Louisville, KY

A: You may want to consider a Chapter 13 if you are behind on payments. Talk to an experienced bankruptcy practitioner who can evaluate your entire financial situation and then help you decide how to proceed.

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