The banks are protected federally, but who protects your mortgage?

During the financial crisis in 2008, the U.S. Federal Reserve bailed out major banks by providing them with over $7.7 trillion in loans. Known as the TARP bailout, these monies were intended to help the banks offset their massive losses caused in part because of the mortgage lending practices they implemented. So if the banks where protected, what federal protection do mortgage owners have? The only protection distressed homeowners are provided with will be filing under federal bankruptcy.

Bankruptcy protection is your right! You the mortgage owner have the power to stop foreclosure!  Under bankruptcy, the homeowner is given two options: Chapter 7 and Chapter 13 bankruptcy. Filing a a Chapter 7 or a Chapter 13 case stops the foreclosure process and puts a halt to all other creditor actions immediately. At John F. Brady and Associates (California Bankruptcy Group) we have helped homeowners stop the foreclosure process and save their homes! Call us today at 800-281-3733 or visit us at www.californiabankruptcygroup.com.