When you are in danger of losing your home to foreclosure, all hope is not lost. There are legal avenues that you can take to avoid losing your house forever. One popular way that people are avoiding foreclosure is by filing for Chapter 13 bankruptcy. According to the Center for Responsible Lending, a property enters the foreclosure stage every 13 seconds in America – so you are not alone. There are hundreds of thousands of people that are either already in the foreclosure process or are just a missed payment away from receiving first notice of foreclosure.

While many are blaming financial institutions for giving out loans to people who simply could not afford them, the poor economy has also made it difficult for people to stay current on their loan payments. By filing for Chapter 13 bankruptcy, you can possibly avoid foreclosure. At the very least, you can use Chapter 13 bankruptcy to stall the foreclosure proceedings, giving you more time to negotiate with your lending institution. Should you want to explore Chapter 13 as an alternative to foreclosure in Texas, contact the Malaise Law Firm to obtain the assistance of an experienced Houston bankruptcy lawyer immediately.