Home > Housing & Homeownership > Paying a Mortgage

Paying a Mortgage

• Mortgage Foreclosure Prevention
• What is Bankruptcy?
• Tips for Responsible Spending

Are you in jeopardy of losing your home and uninformed about your rights and options?
If you are experiencing circumstances beyond your control because of a financial setback, PCCA can help you through direct negotiations and access to federal or state programs designed to help you avoid foreclosure. PCCA provides intervention assistance for homeowners who are delinquent by use of either, payment arrangements, loss mitigation tools and the Pennsylvania's Homeowners Emergency Mortgage Assistance Program (HEMAP)

The sooner you act the faster we can get you back on track. Too often, families wait for blessings or luck to change their situations. We advise you to start today. Come and see us to begin your recovery and make a new start in life.

Money management and budgeting is included as part of this service.

Timely response is the most important step you can take to resolve your situation. Call today! Start now!

Read how others benefited from PCCA Foreclosure Prevention

Olivia A.
As a member of a successful class action lawsuit against a predatory lender, Ms. A worked with PCCA to avoid losing her property through foreclosure and get relief on her delinquent loan obligations.

Jacqueline J.
When corporate downsizing caused Ms. J to join the swelling ranks of the unemployed, she couldn't keep up with her mortgage payments and almost lost her home. PCCA was able to help her access the Pennsylvania Homeowners Emergency Mortgage Assistance Program (HEMAP), which helped bring her payments current and avoid foreclosure.

(Back to top)

• Bankruptcy is a federal court process that can help consumers eliminate overwhelming debts or establish a plan to repay them.
  Bankruptcy should be the last resort as it can have long term negative impact on ability to obtain credit, find a job, get insurance or rent a place to live. Landlords, insurers, employers and lenders may turn you down based on a bankruptcy. There are two types of personal bankruptcy: Chapter 7 and Chapter 13.
• Chapter 7
  A trustee is appointed to take over your property and to sell any property of value. Property sold is typically called non exempt assets. The money will be used to pay your creditors. You may be able to keep some personal items or real estate depending on the law in your state. Property you are allowed to keep is typically called exempt assets. Debts owed to creditors not paid by the trustee bay be discharged. You can only receive a Chapter 7 discharge once every 6 years.
• Chapter 13
  You can usually keep your property, but must earn wages or have other income to pay part of your debts. The Court must approve your repayment plan and your budget. A trustee is appointed and will collect the payments from you, pay your creditors, and make sure you live up to the terms of your repayment plan.
• Your bankruptcy may be reported on your credit report for as long as ten years.
• Unsecured debts (medical bills, credit cards, collection debt) can generally be included in either a Chapter 7 or 13 bankruptcy.
• Secured debts (car loans, mortgages) are sometimes included in a Chapter 13 bankruptcy, but generally cannot be discharged in a Chapter 7. However, if you do include a secured debt, the creditor can still take the secured property if payments are not kept up to date.
• You can never discharge debts for most taxes, child support, alimony, student loans, court fines, or restitution and debts or judgments based on fraud or illegal activities such as drunken driving, malicious injury to a person or property, embezzlement or larceny.

(Back to top)

Before you buy something, ask yourself these questions:

• Will this purchase help me reach my financial goals?
• Do I really need this item or just WANT it?
• Would I come back tomorrow to buy this?
• Can I really AFFORD it?
• Would I buy it if I had to pay cash for it?
• If I buy it on my credit card, can I pay it off this month?

(Back to top)