A 2014 study by the University of North Carolina Center for Community Capital has concluded what bankruptcy attorneys have known for quite some time – filing bankruptcy stops foreclosures.  The study entitled “Bankruptcy During Foreclosure: Home Preservation Through Chapters 7 and 13” found that if a homeowner filed for bankruptcy relief during a foreclosure proceeding, the homeowner reduced the risk of losing his home by 70%.

For more details from the study and to get more information about saving your home from foreclosure read, “Bankruptcy During Foreclosure: Home Preservation Through Chapters 7 and 13.”

Image credit:  Colleen Lane