Legal Question in Bankruptcy in Virginia

Any bankruptcy filing (absent certain repeat-filer situations) will impose an automatic stay that stops a foreclosure. A chapter 13 (or 11) filing will allow you, at a minimum, the opportunity to cure arrearages and get caught up, and may put you in a better position to obtain a HAMP loan modification (however, for your principal residence, the courts' powers are limited as far as forcing a modification other than to allow you to cure the deficiency over time). You also may be able to avoid wholly unsecured junior (2nd) mortgages, and because unsecured debt need not normally be paid in full, it will allow you to dedicate your income to paying the actual mortgage payments and cure the arrearages. If you wish to discuss your specific situation, feel free to call.