Filing for Chapter 13 to save a house?

[inhocknow]

Hello all, I have a question.
If someone files for a chapter 7 and gets his or her discharge today, can they then go ahead and file a chapter 13 right away to save his or her house?

What can someone do if they can't afford the mortgage payments anymore due to a job loss or some other life changing event? Will a chapter 13 allow the owner to keep the house with a restructured mortgage with lower payments and lower interest?

Thank you.

[isitreal]

Short answer is no. A ch. 13 bankruptcy will not restructure your mortgage, only give you time to catch up what you are behind. Being a secured debt, if you cannot make your payments during the ch. 13 the lender can foreclose on the house.