By: Darrell Castle

Many people fall behind on their mortgage for one reason or another. They try to make these quick little fixes to solve their problem, but often times they’re just delaying the inevitable.


That “inevitable” is foreclosure of course. When you fall far enough behind on your mortgage, the bank is going to come knocking and tell you they want their house back. You haven’t been paying for it and they can take it from you.

From that point, you basically have two options.

Option 1: You can file for Chapter 13 bankruptcy and stop the foreclosure. By filing, you’ll lump your unpaid mortgage payments along with your other debt and make small AFFORDABLE payments for 3-5 years. It’s a debt restructuring plan. When it’s over, that debt is gone and you’re current on your mortgage.

Option 2: Surrender your home.

Obviously, option #1 is ideal. But you may be surprised by how many people decide that surrendering their home is the best option.

Our Memphis Bankruptcy Attorneys Can Help

If you’re struggling with your mortgage — if you’re behind on it AT ALL — we’d love to talk to you about it.

We’re professionals and have seen it all. We can help you decide which option is best for you and your situation.

Contact us today at (901) 327-2100 for a free bankruptcy consultation. You can sit down with an attorney, discuss your situation and examine your finances. And then you can hear what your best options are moving forward.

At the least, all you’re getting is free information. The decision is yours.