Bankruptcy and Foreclosure

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    🚨 PANIC: My Home Is in Foreclosure —

    What Do I Do RIGHT NOW?

    If you’re here, you may be:

    • Facing a sheriff’s sale date

    • Getting foreclosure notices or court papers

    • Behind on mortgage payments

    • Afraid of losing your home

    • Unsure whether bankruptcy can still help

    Stop. Take a breath. Foreclosure is serious — but it is not always final.

    First — Do NOT Do These Things

    ❌ Do not ignore court papers
    ❌ Do not assume “it’s too late”
    ❌ Do not drain retirement accounts
    ❌ Do not transfer your home
    ❌ Do not rely on verbal promises from lenders

    These mistakes permanently reduce your options.

    The Truth (No Sugarcoating)

    Foreclosure moves fast — but the law gives homeowners powerful tools to stop or delay it if used correctly.

    👉 Bankruptcy can stop foreclosure immediately — even days before a sale — in many cases.

    What Bankruptcy Can Do — RIGHT NOW

    ✔ Stop a sheriff’s sale
    ✔ Stop foreclosure lawsuits
    ✔ Stop wage garnishment related to the mortgage
    ✔ Give you time to reorganize
    ✔ Protect equity (in the right chapter)

    This is automatic court protection, not a negotiation.

    Chapter 7 vs Chapter 13 (Emergency Overview)

    Chapter 7

    • Stops foreclosure temporarily

    • Buys time

    • May be appropriate if keeping the home is not realistic

    Chapter 13

    • Can save the home

    • Allows mortgage arrears to be paid over time

    • Stops foreclosure permanently if the plan is completed

    The right chapter depends on:

    • Equity

    • Income

    • Arrears

    • Timing

    “But the Sale Is Soon — Is It Too Late?”

    ❌ No. Often, it is not too late.

    Bankruptcy can stop a sale:

    • Days before

    • Sometimes even the day before

    ⚠️ But timing is critical. Waiting costs options.

    If You Have Equity

    Equity can be:

    • A reason the trustee wants the house, OR

    • A reason Chapter 13 is the right tool

    Equity does not automatically mean you lose your home — but it requires strategy.

    Bottom Line (Read This Twice)

    ✔ Foreclosure is not instant
    ✔ Panic leads to bad decisions
    ✔ Bankruptcy is often the fastest stop
    ✔ Early action = more options

    Get Help — NOW

    Foreclosure is not something to “wait and see” about.

    Ginsburg Law Group helps homeowners:

    • Stop sheriff’s sales

    • Save homes through Chapter 13

    • Protect equity

    • Understand real options — fast

    👉 Contact us immediately if foreclosure has started or a sale is scheduled.

    🚨 PANIC: Should I Stop Paying My Mortgage (or Other Bills)?

    If you’re considering stopping payments because:

    • You can’t keep up

    • You’re choosing between food and bills

    • You’re thinking about bankruptcy

    • You’re afraid of wasting money

    Pause. Stopping payments can help — or seriously hurt — depending on timing.

    The Short Answer

    👉 Sometimes stopping payment is the right move.
    👉 Sometimes it is the worst move you can make.

    The difference is strategy — not desperation.

    When Stopping Payment MAY Make Sense

    ✔ You are preparing to file bankruptcy
    ✔ You cannot realistically catch up
    ✔ Paying would drain necessities
    ✔ You’ve been advised to stop by an attorney

    Stopping payment can preserve:

    • Food money

    • Rent

    • Utilities

    • Medical care

    When Stopping Payment Is Dangerous

    ❌ If foreclosure has already started and no plan exists
    ❌ If you have equity and no strategy
    ❌ If you plan to keep the property long-term without a plan
    ❌ If you assume bankruptcy will “fix it later”

    Stopping payment without a plan accelerates legal action.

    Mortgage vs Credit Cards (Very Different)

    Credit Cards & Unsecured Debt

    • Often safe to stop paying before bankruptcy

    • Bankruptcy wipes these out

    Mortgage, Car Loans, Taxes

    • Secured or priority debts

    • Stopping payment triggers legal consequences

    • Must be coordinated with a plan

    What Bankruptcy Changes

    Once bankruptcy is filed:
    ✔ Collections stop
    ✔ Lawsuits stop
    ✔ Foreclosure pauses
    ✔ Payment pressure eases

    But what you do before filing matters.

    The Most Dangerous Mistake

    ❌ Stopping payments and doing nothing else

    That’s how people lose homes, cars, and leverage.

    The Rule That Protects You

    Never stop paying a major debt without knowing what your next legal step is.

    Stopping payment should be part of a strategy, not a reaction.

    Bottom Line

    ✔ Yes, sometimes you should stop paying
    ✔ No, you should not guess
    ✔ Timing matters more than intent
    ✔ One phone call can prevent disaster

    Talk to a Lawyer BEFORE You Decide

    If you’re thinking about stopping payments, talk to a bankruptcy attorney first.

    Ginsburg Law Group helps clients:

    • Decide what to pay and what to pause

    • Time bankruptcy filings correctly

    • Avoid foreclosure and repossession

    • Preserve cash safely

    👉 Contact us now before you stop paying — it can save your home and your case.

     

    📞 Call us today for a free, confidential bankruptcy consultation – 855-978-6564 or email us at bankruptcy@ginsburglawgroup.com.

    CLICK HERE for your free case assessment.

    Contact our Bankruptcy Team: bankruptcy@ginsburglawgroup.com

    We work with most major legal services and legal insurance plans.  Some cover your legal fees for bankruptcy services.  Give us a call today to see if your bankruptcy is covered!

    BANKRUPTCY TEAM

    AMY GINSBURG – aginsburg@ginsburglawgroup.com

    GRACIE KLEIN – gklein@ginsburglawgroup.com

    NICOLE LOMBARDI – nlombardi@ginsburglawgroup.com