The RazorKnow Organisation

Like many homeowners, I found myself facing foreclosure last year, and I wondered how I would ever fix the future financial problems that this would cause. Like most people, I never thought I would need to file for bankruptcy, but after being unemployed for over a year I had little choice in the matter. Not only did we lose our home, but I worried we might not be able to get another one for awhile, even if I did find work. Buying a house after bankruptcy can be very difficult.

Thankfully, I did find a job last fall, and immediately began putting money away for a down payment. I also started paying close attention to the news, waiting to hear what kind of legislation would be passed to help someone like me. It seemed like every initiative I heard about was designed to help working families, but I heard nothing about the possibility of a post-bankruptcy mortgage.

Then, while I was Googling “buying a house after bankruptcy” one day, I found a Chicago law firm called Loop Bankruptcy, and it looked like they might be able to help me. They have a lot of experience defending consumers like me, who were victims of predatory lending. I visited their downtown office last week, and learned that I do have rights, and it is really possible to get a bankruptcy mortgage.

Many bankruptcy attorneys have found themselves flooded with potential clients who are looking to avoid foreclosure, renegotiate mortgage terms, and reduce their monthly payments so they can stay in their homes. It is a great idea to check out your options before filing for bankruptcy. Many lenders are more open to renegotiating now than they were last year, and it makes sense to contact a debt relief lawyer and learn more about your rights. It will certainly be easier than losing your home.