Because your home was used as "collateral" for your mortgage loan when you purchased it, foreclosure on that loan is one of the most powerful tools at a creditor's disposal. And if you are visiting this cite with a view toward proceeding with a bankruptcy petition, chances are you have been unable to make your monthly mortgage payments for some time. Once significant arrearages accrue, the bank that holds your mortgage may commence foreclosure proceedings against you.

If you have already received notification from your bank that it is prepared to file a foreclosure action on your property, it is imperative that you act at once to protect your interests in the home. You should never ignore telephone calls or letters from your bank threatening foreclosure. You must respond immediately, either with a reasonable plan to bring arrearages current and a promise to make future payments in a timely fashion, or with a bankruptcy petition. You must also bear in mind that once a foreclosure action is brought against you, you have a very limited period of time to assert defenses against these claims and bring your mortgage payments current. If these telephone calls and letters are not taken seriously, the threat of losing your home will quickly become a reality.

We understand that the inability to make monthly mortgage payments and the subsequent threat of losing your home causes sleepless nights. If your bank is threatening foreclosure, or has already commenced a foreclosure proceeding against you, act quickly to protect your home by calling our bankruptcy attorney, Maureen K. Higgins, Esq., in Westfield, New Jersey, at (908) 232-9962, or in South Orange, New Jersey, at (973) 275-1222. Our law firm will immediately take the appropriate steps to either arrive at a workable solution with your bank, or, if that is not possible, file a bankruptcy petition pursuant to Chapter 13 of the United States Bankruptcy Code to stop the foreclosure action against you.