I have recently come across several articles about so called “loan modification companies” that claim that they can help you renegotiate your bad mortgage and stay in your home.
In some cases, like this one noted in the New York Times, the same people who created the sub-prime mortgage you are seeking relief from will be negotiating a new mortgage for you.
If you have fallen behind on your house payment and the lender is threatening to foreclose, you may be better off filing a Chapter 13 bankruptcy case to save your home.
Bankruptcy can help you stop a foreclosure and allow time to negotiate an acceptable way to keep your home.
