<\/span><\/h3>\nIf you have equity, you might be able to refinance in order to save your home; however, refinancing or taking out a second mortgage may create a bigger mortgage than you can afford. Plus now you are paying interest on the arrears.<\/p>\n
A refi may waste away your equity and any value in your homestead exemption. You should consult with Phoenix Fresh Start Bankruptcy Attorneys before refinancing to pay off unsecured debts because it is normally not a great move.<\/p>\n
All the costs associated with closing a new loan, such as fees, points, appraisals and title costs will often add as much as $10,000 to the new loan. Chapter 13 may be a better option for you to catch up on any payments that have not been made on time on your home loan. Curing the arrearage at zero percent interest through a Chapter 13 bankruptcy will protect your equity and will buy you the additional time you need without needlessly throwing away equity or cash.<\/p>\n
Remember that Phoenix Fresh Start Bankruptcy Attorneys are always available to answer all your Chapter 13 Bankruptcy questions.<\/p>\n","protected":false},"excerpt":{"rendered":"
The following three posts will address many of the questions our Phoenix area clients may have about Chapter 13 Bankruptcy. The first three questions are as follows: What is a Chapter 13 bankruptcy? Chapter 13 is a kind of bankruptcy in where a debt repayment plan is constructed to consolidate debts and make payments on your debt over a 3 to a 5-year time frame. You file a plan with the Arizona Bankruptcy Court under which you make payments to […]<\/p>\n","protected":false},"author":1,"featured_media":2443,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,37],"tags":[],"_links":{"self":[{"href":"https:\/\/phoenixfreshstartbankruptcy.com\/wp-json\/wp\/v2\/posts\/2491"}],"collection":[{"href":"https:\/\/phoenixfreshstartbankruptcy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phoenixfreshstartbankruptcy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phoenixfreshstartbankruptcy.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phoenixfreshstartbankruptcy.com\/wp-json\/wp\/v2\/comments?post=2491"}],"version-history":[{"count":0,"href":"https:\/\/phoenixfreshstartbankruptcy.com\/wp-json\/wp\/v2\/posts\/2491\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/phoenixfreshstartbankruptcy.com\/wp-json\/wp\/v2\/media\/2443"}],"wp:attachment":[{"href":"https:\/\/phoenixfreshstartbankruptcy.com\/wp-json\/wp\/v2\/media?parent=2491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phoenixfreshstartbankruptcy.com\/wp-json\/wp\/v2\/categories?post=2491"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phoenixfreshstartbankruptcy.com\/wp-json\/wp\/v2\/tags?post=2491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}