If you are getting behind on your mortgage payment or are facing foreclosure, Chapter 13 bankruptcy may be the best option for you to keep your home. Once you file a Chapter 13 in Michigan, an “automatic stay” is placed on your home, prohibiting the mortgage company from proceeding with the foreclosure. The arrears you owe are placed into a monthly payment that is tailor made for you by your attorney. Chapter 13 bankruptcy
gives you some breathing room and time to get back on track with your finances, all the while saving your home from foreclosure.