Tag Archives: buyer beware
There are several ways to stop a foreclosure. One of the most common ways to prevent a mortgage company from foreclosing on your home is to file Chapter 13 Bankruptcy. Chapter 13 allows you to reorganize your debt and gives you the opportunity to pay your mortgage arrearage over a 3 or 5 year period. It is important that you consult with an experienced Bankruptcy attorney and file your case before the date that the foreclosure is scheduled. Once the foreclosure sale is held, Chapter 13 cannot save your home. Filing Chapter 13 can also stop vehicle repossessions and may reduce your total monthly expenses.
Although you may not be familiar with the Latin phrase Caveat Emptor, I’m sure you have heard the phrase “buyer beware” before. “Buyer beware” is something that you should take to heart every time you buy anything used without a written warranty. The phrase simply means that you, as the buyer, assume all risk for the item you are buying once money changes hands unless arrangements are made otherwise.