Behind on Your Mortgage? Call PFG. 

The number of serious delinquencies is at a 10 YEAR HIGH – if you are behind on your mortgage, call Geraci Law.

Behind on Your Mortgage? Call PFG.

After the housing bubble burst in 2008, millions of Americans faced foreclosure on underwater properties. Over a decade later, homeowners are facing a new battle – job loss as a result of COVID-19.

Federal protections like the CARES Act halted foreclosure and eviction actions. But those protections ended on 7/31/2020. According to Black Knight – a mortgage/home data company, the number of SERIOUS delinquencies meaning a homeowner is at least 90 days behind is at a 10 year high.

The GOOD news, bankruptcy can help in most cases. If you are behind on your mortgage, filing a Chapter 13 bankruptcy with Geraci Law can STOP the foreclosure. You are in a repayment plan to get current with your mortgage.

Chapter 13s are court supervised repayment plans. Once a chapter 13 case is filed, you are under bankruptcy protection from foreclosure or collection effort from your creditors. The BETTER news, Geraci Law can file a case in as little as ONE DAY to stop the foreclosure. We routinely file Chapter 13s for no money down.

If you got behind and you can afford your house – do not wait! Call Geraci Law for a free consultation to figure out a solution to keep your shelter in place.

Dial 1-800-CALL-PFG for a free phone mini-consultation, or make an appointment online 24/7 at www.infotapes.com.  Bankruptcy laws are in place to help you.  Who knows bankruptcy like Geraci Law?  Geraci Law has 30,000 5-star reviews 5starsince November 2016!

Read ALL ABOUT DEBT RELIEF at www.bankruptcybookbypeterfrancisgeraci.com.

Happy Easter from Geraci Law!

Geraci Law staff wishes a Happy Easter and offers some shelter in place ideas.

Happy Easter from Geraci Law!

Geraci Law wishes you and your family a Happy & Safe Easter! It’s not the Spring or Easter we were expecting. If you are struggling financially right now, we’re here from you.

Dial 1-800-CALL-PFG for a free phone mini-consultation, or make an appointment online 24/7 at www.infotapes.com.  Bankruptcy laws are in place to help you.  Who knows bankruptcy like Geraci Law?  Geraci Law has 25,000 5-star reviews 5starsince November 2016!

Read ALL ABOUT DEBT RELIEF at www.bankruptcybookbypeterfrancisgeraci.com

Some tips from Geraci Law Staff during shelter in place: 

Attorney Jason Kara – have a theme night – even though you cannot go to the beach, bring the beach to you!

JAK

John Senese – playing dress up is ALWAYS a good plan.

SEN

Elizabeth Doren – if you have preschoolers at home, buy activity books on Amazon or the Dollar Store for $3-$5.

EMS

What Happens to My Credit?

Geraci Law answers 5 common questions about credit after filing for bankruptcy. What is “good” credit?

What Happens to My Credit?

Geraci Law answers 5 common questions about credit after filing for bankruptcy. What is “good” credit?

When can I apply for credit?

You can apply for credit after your case is discharged and closed.  But should you apply for credit? You do not want to find yourself in the same position you just discharged in bankruptcy. You are a credit risk immediately after filing for bankruptcy. Creditors KNOW you filed for bankruptcy and after bankruptcy you have limited bankruptcy relief options. These creditors prey on you because you are a credit risk so you WILL get loan offers.

Any credit preapproval you receive will usually come with high interest rates. It may be better to NOT use credit. SAVE money, make house/car payments ON TIME, stay away from the high-interest credit debt and personal loans.

When can I buy a house?

You can apply for a home loan after your case is discharged and closed. Some people are approved while they are IN a bankruptcy. FHA loans might be an option. For a conventional loan, usually its two years after a bankruptcy discharge. Geraci Law is here to help with the process. If you need your bankruptcy paperwork – YEARS down the road, you can log into your Geraci Law Client Corner account to print. You can also search Geraci Law in your app store on your phone to download our Geraci Law app.

What happens to my credit score after filing Chapter 7? Chapter 13?

In your post-bankruptcy life, you should focus on rebuilding financially. Start with a savings account and build an emergency fund. If you have a car payment or mortgage payment, continue to make those payments ON TIME to work to reestablish a payment history.

You will get credit offers in the mail – do your research! Look at the interest rates – if you are going to use the credit, then make sure you pay off what you borrow every month. Do not accept the first offer that comes your way. Review the small print, stay away from the predatory lenders.

When can I buy a car?

After the bankruptcy is discharged and closed you can buy a car. If you are in a Chapter 13 right now, you need court approval if you are looking to FINANCE a vehicle. Craig’s List is a great option to buy a car for cash. You’ll get advertisements from car lots in the mail after bankruptcy – make sure to review the terms. Avoid the high interest, older vehicles without a warranty.

How do I rebuild credit?

  • Pay all of your bills on time! Timely payments prevent late charges and helps you reestablish a payment history.
  • Make sure all of your creditors are reporting to the three major credit agencies (Experian, Transunion, Equifax).
  • Dispute incorrect items on your credit report. Don’t ignore your credit report! All agencies have options to dispute right on their web site, make sure to follow up.
  • Make a large down payment – making a large down payment on any kind of credit make lenders more likely to grant a loan. Your goal should be to put down 20% of the total cost.
  • A small secured credit card is a really great way to build credit with very little risk.

 

  • Dial 1-800-CALL-PFG for a free phone mini-consultation, or make an appointment online 24/7 at www.infotapes.com.  Bankruptcy laws are in place to help you.  Who knows bankruptcy like Geraci Law?  Geraci Law has 25,000 5-star reviews 5starsince November 2016!

Read ALL ABOUT DEBT RELIEF at www.bankruptcybookbypeterfrancisgeraci.com

Worried About Assets? PFG can help!

Do you own a house, car, or another asset you want to keep? Are you worried that Chapter 7 bankruptcy means you won’t get to keep your property? Geraci Law & PFG can help!

Worried About Assets? PFG can help!

Do you own a house, car, or another asset you want to keep? Are you worried that Chapter 7 bankruptcy means you won’t get to keep your property? Geraci Law & PFG can help!

Geraci Law has over 40 years of bankruptcy law experience. We’ve seen it all. Geraci Law can help you eliminate debt and keep your property. We’ll figure out the best plan of action to fit YOUR needs.

Hiding things NEVER works. Tell us and we’ll figure out the best option to receive a discharge. Experience means a lot. Knowing you have the world-class representation of Geraci Law on your side make the process easier.

From Attorney Peter Francis Geraci’s, The Complete Book on Bankruptcy

If your house is worth a lot of money, or even if it is only worth more than your mortgage plus homestead exemption, you may not be able to file a Chapter 7 and still keep the house. You may have to do a Chapter 13 repayment plan to protect your equity in the house. It is necessary to bring in a recent appraisal if you want competent advice from your attorney. You do not need an expensive appraisal. You may already have one if you have recently refinanced the house, or if you recently purchased it. A letter appraisal from a local real estate agent will do.

 

Example: Mr. and Mrs. Robertson have fallen behind in their house payments, because Mr. Robertson was ill for 6 months. They were served with a foreclosure suit, and want to save their house. They have no other bills. Their neighbors, the Smiths, have a lot of bills, but they are current only on their house payment.

The Peter Francis Geraci Chapter 7 or 13 Solution: The Robertson’s can file under Chapter 13 of the Bankruptcy Act to pay the 6 months of arrears, and foreclosure costs, over as long as 36 months. They have to start paying their regular mortgage payments again, but the mortgage company has to stop the foreclosure, and accept regular payments again. The Smiths can file under Chapter 7, and discharge all of their debt, and they can keep their house since it is worth $80,000, and their equity is less than $15,000 allowed as exempt from creditors under Illinois law. Other states have other laws relating to homestead.

Read more of The Complete Book on Bankruptcy @ https://www.bankruptcybookbypeterfrancisgeraci.com/

Stop Foreclosure – Can Geraci Law Help You?

Do you want to keep your home? Can you afford the home but not the arrears in a lump sum? Geraci Law helps thousands of people save their homes.

Do you want to keep your home? Can you afford the home but not the arrears in a lump sum? Geraci Law helps thousands of people save their homes.

House

Can Geraci Law save my house?

We’ve helped thousands with a Chapter 13 interest free repayment plan that spreads your mortgage arrears over a 3-5 year plan. At the end of the bankruptcy, you’ll discharge any unpaid debt like credit cards, medical and be current with your mortgage.

“What about “loan modification”?   Don’t fall for scams.  Don’t pay any money for help.  Deal direct with your lender.  When you do, expect

o   they won’t reduce the amount you owe and rarely the interest

o   your term will go from 15 to 30 years, you will never own the place

o   it is usually a scam so you don’t pay while applying, and then they foreclosure

What do I do?  If you are behind in your mortgage, call Geraci Law to

o   eliminate or consolidate OTHER debt so you can pay your mortgage

o   stop foreclosure and pay past due amounts over 3 years or more

Loan modification scams:   just search on “Legal Helpers Debt Resolution” or “Morgan Drexen”.  Don’t be scammed! Call Geraci Law. Never send money to an internet scheme.

How does Chapter 13 help with mortgage foreclosure or past due mortgage payments?

  1. It forces your mortgage company to accept your payments going forward
  2. If forces your mortgage company to accept payments on arrears
  3. It consolidates your vehicles and debts so your mortgage gets paid first

How does Chapter 7 help with mortgage foreclosure?  It could eliminate your other debt to free up your budget to pay the mortgage.

Is it too late to save my house? Ask Geraci Law!  Geraci Law can file a case in as little as ONE day BUT you shouldn’t wait until the last minute. Sooner is better than later!

Dial 1-800-CALL-PFG for a free phone mini-consultation, or make an appointment online 24/7 at www.infotapes.com.  Bankruptcy laws are in place to help you.  Who knows bankruptcy like Geraci Law?  Geraci Law has 20,000 5-star reviews 5starsince November 2016!  Read more at www.bankruptcybookbypeterfrancisgeraci.com.