Maybe a honeymoon in Vegas will be the next step for Nicolas Cage after his two New Orleans home were sold in foreclosure in early November. Had he looked for protection from foreclosure, he may have found that an experienced St. Louis Missouri or Illinois bankruptcy attorney could have given him the information he needed to stop his unpaid back taxes from causing his homes to be sold at auction. His properties sold for $2.3 and $2.2 million, respectively, after $6 million in unpaid back taxes left him look at a foreclosure notice. So, the question is, could I have stopped Nicolas Cage's homes from being sold at auction?

If I were licensed in the state of Louisiana, the answer would be absolutely. A foreclosure can be stopped immediately with a chapter 13 bankruptcy; it can even stop one as a result of back taxes. Chapter 13 bankruptcy reorganizes your debt into one low monthly payment. It is a federal law that requires your creditors to take lower payments over a longer period of time. In Nicolas Cage's case, it would have allowed him to keep his home and pay back his taxes throughout the life of his bankruptcy. I'm sure that wouldn't have been a problem if he'd had another installment of National Treasure.

"So, James, are you saying that there are lawyers that specialize in foreclosure?" There absolutely are. They happen to be the same attorneys who specialize in bankruptcy. An order called an "automatic stay" is the tool that chapter 13 bankruptcy issues. In the case of a foreclosure, an automatic stay will stop your lender from moving forward with the sale of your home. And that isn't all that bankruptcy can do. It can also prevent your creditors from harassing you, stop them from garnishing your wages, and even prevent the repo man from taking your car.

If, as in Nicolas Cage's case, you've elected to let your home go to auction because of a foreclosure, there are still options. If your home is sold for less than you owe, the remaining debt is called a deficiency balance—and your creditors will do anything to collect it. A chapter 7 bankruptcy can eliminate that balance and help you find a permanent solution to credit card debt or any other debt you owe.

There is more than one way to put your life back together after a foreclosure. But, the most important thing to remember is not to wait once you have received a notice. Taking immediate action by calling your mortgage company or a bankruptcy attorney can keep you—and your family—off the streets and on your way to eliminating the burden of debt.

About the Author:

Missouri Bankruptcy attorney James Brown has been working to relieve the debt of hard-working American families for over 15 years. He has dedicated his career to educating consumers about options for debt relief and has released 5 publications, including, "Get Out of Debt: Secrets Your Creditors Don't Want You to Know." You can request a free copy by visiting his website at http://www.CastleLaw.net .

Article Source: ArticlesBase.com - Could Chapter 13 Bankruptcy Have Saved Nicolas Cage's Homes from Foreclosure?

STOP FORECLOSURE Saint Louis

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If you are worried about losing your home because you have become delinquent in your mortgage payments, you must ensure one thing – stay healthy.

You may not know it, but health can affect how your housing situation will fare in the coming months, or even years. In these times when foreclosure proceedings can happen in a snap of a finger, it is always best to be on time with your mortgage payments. Accomplishing this requires a dependable regular income, and you won’t be able to do this if you are frequently absent from work. Not only will you be burdened with rising medical bills, you may also lag behind your mortgage payments, which may eventually lead to foreclosure.

Obviously, absence makes the pocket shallower; it can also take away your home. One thing you can do to prevent this from happening is make sure that you don’t get sick.

Similarly, foreclosures have the same effect on one’s health. Overdue mortgage payments and foreclosure notices can stress out a person to the point of getting sick. Then, your work suffers, and eventually, your home.

Homelessness is the next phase of this vicious cycle. Homeless people are exposed to the elements, germs, bacteria, and viruses, making them more prone to illness and infection. Without proper medical attention, health conditions can worsen. Who knows what could happen next?

The government already has a legislation that will provide various housing assistance programs to different people. One of them is the creation of a national Housing Trust Fund which is designed to provide housing for those in need.

But if we really want to deal with this problem head-on, initiatives must start in the neighborhoods. We can’t just solely depend on the government to do all the dirty work. Communities also have a duty to look after the needs of their residents.

Take the Mental Health Board of St. Louis in Missouri as an example. This institution offer services like homeless outreach and housing stabilization programs that make sure that the homeless and those with mental health disorders have a house where they can be safe. Their programs also ensure that these people are placed in an environment where they can have access to supportive services.

The National Health Care for the Homeless Council located in Nashville, Tennessee, fights to put a stop to foreclosure and make access to health care available to everyone. If you are homeless and looking for shelters, you can seek help from the National Coalition for the Homeless online directory of Local Homeless Service Organizations. Shelters and homeless service providers are listed by state. You can also use the Directory of Homeless & Housing Advocacy Coalitions for further resources. The council also provides relevant information on healthcare services through their Health Care for the Homeless providers in each state.

Housing Assistance Network ( http://new.housingassistancenetwork.com ) - is a site that aims to help those who are in the low to moderate income brackets find financial assistance for housing, help in acquiring a new home, or grant programs from both state and non-government institutions.

Article source: http://new.housingassistancenetwork.com/posts/view/failing-health-can-cause-you-to-lose-your-homes

About the Author:

Freelance writer, part-time photographer and editor.

Source - If You Want to Keep Your Homes, Stay Healthy!

Stop Foreclosure Kansas City, MO and KS - www.StopForeclosureKansasCity.com

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Question: How do you start all over again after losing a growing business, home and good credit?

The property was my home and business at the same located. The property is newly rehab inside and out now its "blighted" by the largest company in St. Louis Missouri. The company take me a legal battle I can't afford the fees and pay the mortgage at the same time. The property foreclosure on this pass Dec. leaving my daughter and I homeless more information visit www.helpbts.com and www.studlife.com search eminent domain read the story. The Mayor, Alderman and other powerful people do not care including the mortgage company. No one to turn to this is my first time home buyer property. What to do?

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Answer: I went to both sites....and still have a lot of blanks.. How could property that is newly rehabbed inside and out be classified blighted?? Regarding eminent domain, although they are allowed to acquire your property, aren't they required to pay you fair market value? Why are there not pix of legal documents to validate your story? You may truly be a victim that hasn't done justice to your sites...or just another e-net scammer.. not enough information.

Facing the Mortgage Crisis | KETC | Part III

Foreclosure Help Missouri is a post from: Foreclosures Help Information

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