Case Overview: Client C, the head of a four-person household, fell behind on mortgage payments for about a year due to sudden unemployment. Although they eventually found a new job, the bank demanded the full payment of all arrears immediately, threatening Foreclosure. Unable to move due to their children’s schooling, Client C came to our firm in desperation.
Song Law Firm’s Assistance: For clients who have assets and income but face a temporary liquidity crisis, Chapter 13 (Reorganization Bankruptcy) is often the best solution. Song Law Firm drafted a “Repayment Plan” based on Client C’s income, proposing to pay back the mortgage arrears over a 3-to-5-year period. Filing this plan immediately stopped the foreclosure process and prevented the bank from seizing the home.
Result: The court approved the repayment plan submitted by Song Law Firm. Client C was able to keep the house, continuing to live there while making manageable monthly payments to the court to catch up on the mortgage.
[Contact Us for a Consultation] If your home is at risk of foreclosure, immediate legal action is required. Let Song Law Firm protect your home.
💬 KakaoTalk Channel: Song Law Firm 📞 Phone: 201-461-0031 📧 Email: mail@songlawfirm.com 🌐 Website: www.songlawfirm.com
Disclaimer: These success stories are based on actual cases that have been reimagined for privacy. Past results do not guarantee similar future outcomes. Legal results may vary depending on the individual facts of each case.
