When the economy fell off a cliff in 2006 at the end of the Bush era, our firm was here to rescue families who faced losing their homes to the big banks. We will be here the next time, too.

We are now in the 9th year of an economic boom. It will not last forever and there are economic signs that it may not last much longer. If interest rates spike, or you lose your job, or something else causes you to get behind on your mortgage payments, what can you do?

We have saved homes for hundreds of people through Chapter 13 bankruptcy. Most people erroneously think that Chapter 13 means you repay your debts. To the contrary, Chapter 13 is a powerful tool that can be used for mortgage relief (and for other purposes such as tax relief or delinquent child support debts).

Chapter 13 lets homeowners stop foreclosure in its tracks, giving homeowners five years to catch up any missed payments and get back on track. And when the economy is really bad and housing prices drop like they did in 2007, Chapter 13 can allow you to write off your second mortgage and even your third mortgage.

Of course, the economy doesn’t have to be bad for good people to have bad times. We file Chapter 13 cases every month for people who have had a bout with unemployment or unexpected illness, or who have budget problems for other reasons such as a recent divorce. In good times and in bad, we are here to help good people get back on track.