Castle Law Office Blog | Missouri & Illinois Bankruptcy Legal Blog

Can Obama’s Plans for Change Really Help the Loan Modification Program?

Foreclosure statistics came in for 2009 at frighteningly high levels while the results of the loan modification program put forth by the government came back frighteningly low. Terrible combination, huh? It seems that the government has noticed that the loan modification program needs to be fixed if it is going to try to help the one in three homeowners who owe more on their mortgages than their homes are now worth. And, though multiple problems have now been identified with the loan modification program, there hasn’t been a clear plan put forth to fix them. Could such a plan even exist? Experts are still unsure.

Luckily, we can be sure of the ability of St. Louis and Wentzville Missouri and Southern Illinois bankruptcy attorneys to help those needing protection from foreclosure. Missouri and Illinois Chapter 13 bankruptcy stops a foreclosure and allows homeowners to get out from under the overwhelming stress of debt. Chapter 13 bankruptcy can help homeowners all over the states of Missouri and Illinois not only get protection from foreclosure but also find a solution to their credit card debt, stop car repossession, and prevent creditors from taking any more action against them and their family. Plus, it doesn’t come with some of latest dangers that are inherent in loan modification programs. Wondering if you should file Chapter 13 bankruptcy?

Visit our Chapter 13 practice page or request a free copy of my ultimate Missouri and Illinois bankruptcy book, “Get Out of Debt: Secrets Your Creditors Don’t Want You to Know.”