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Despite legislation to make mortgage modification easier and prevent even more foreclosures after the housing crisis, many Americans are still struggling to keep their homes. If you are overwhelmed with the amount of your personal debt, Chapter 13 bankruptcy is a viable option that will typically allow you to stop foreclosure, keep your vehicles and get some debt relief.

Politicians in Ohio have been claiming recently that the state is booming economically. While the unemployment rate is currently lower than the national average and a significant number of jobs have been added over the past few months, the overall economy has been slower to recover from the recession. State foreclosure statistics reported by Realty Trac are evidence of this. The foreclosure rate in Ohio has actually risen by 2 percent between January and June 2013 compared to the same time period during 2012. This is counters the national foreclosure rate which is expected to decrease by as much as 28 percent this year. Ohio ranks fourth in the nation for foreclosures; Florida, Nevada and Illinois are first, second and third, respectively.

Those who are still struggling to make house payments may want to speak with a bankruptcy attorney regarding their options. Filing for Chapter 13 bankruptcy may be the best solution. It should not be thought of as a dead end road, but rather an avenue to find a fresh financial start. It can not only stop foreclosure, but can also stop creditor harassment by making your debt payments more manageable and rebuilding your credit at the same time.

Source: Citybeat.com, Ohio No. 4 in Nation for Foreclosures,” German Lopez, July 11, 2013