Frequently Asked Questions

Maybe you have a few questions. That’s okay; most people do. Here is a quick collection of some of the questions people ask us, along with our answers. If you still have a question, don’t hesitate to contact us anytime. We would be happy to answer it for you.

Q: Should I file for Bankruptcy?
A: I don’t recomend it! Bankruptcy can temporarily stop foreclosure, but it’s costly. Filing for bankruptcy costs between $800 and $1,500 or more upfront. If you can afford to pay the overdue amount in higher monthly payments, that’s good. But be aware that an extra $4,000 to $6,000 is often added to cover attorney fees and court costs. If you miss these higher payments, foreclosure will resume. Bankruptcy also negatively affects your credit report for up to 7 years.

Many families can’t keep up with bankruptcy payments and end up losing their homes and any equity they have. There is a better solution. If you can’t negotiate with your bank to restructure or catch up on your loan, consider selling your house to save as much equity as possible. This is where Campbell Home Solutions can help. We can pay the outstanding missed payments and fees to bring your loan current and give us the time needed to maximize your equity while minimizing credit damage. It’s easier to move forward with a sizable check. Call us today to analyze your situation and create a positive plan for your future. Call us today (910)880-0500 

Question: Can I reinstate my loan to stop foreclosure?

Answer: Yes! You can reinstate your loan to stop foreclosure before the sale date, as long as your loan documents permit it. This means you can pay your overdue loan amounts and any additional fees to bring your loan current. In my experience, most loans allow for this option. Therefore, you can reinstate your loan to stop the foreclosure process.