24th Oct 2017


We are almost 2 months past the incredible Hurricane Harvey, but still live its aftermath.  Many Texans struggle to keep up their mortgage and car payments after having been displaced out of their home or from being off work for so long after the storm.  One of the hardest hit sections of society are homeowners.  Many homeowners have suffered extensive damage to their homes and are in the process of trying to pay insurance deductibles, restoration crews in addition to the monthly mortgage payment and sometimes a new lease payment where they are living while the house is being repaired.


According to Black Night, Inc., the number of borrowers who have fallen at least 30 days past due on their mortgage increased to 67 percent last month in Texas.  Before the storm, Texas was ranked 20th among states for being behind on a mortgage, but now it has surged up to 3rd.  Overall, foreclosures across the nation have declined since the storm due to the temporary freeze on foreclosures in storm disaster areas.


The question is now – what can you do to bring your mortgage payments current and avoid foreclosure?  Once the freeze ends, mortgage companies will start actively collecting these past due notes, including the use of foreclosure.  Homeowners will be stuck trying to come up with the funds to become current or apply for a home loan modification.  Another, even better answer, is to file Chapter 13 bankruptcy, which creates a 3 to 5 year payment plan governed by a federal court giving you some breathing room and allowing you a chance to make up these payments over time.  It is a federally guaranteed right that you have to keep your home and still pay for it over a longer period of time.


If you are wondering how you are going to be able to catch up on your mortgage payments, please give me a call and schedule a free, no obligation, consultation to discuss your concerns and we can work together to try and find the right individualized approach for you.  Please contact me at 281-847-4345 or rkemsley@kemsleylaw.com.  I look forward to hearing from you soon.

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