After trying different ways to maintain the mortgage on your home, you might still face the foreclosure of your home. There may come a point when the only option you have is filing for bankruptcy.
Bankruptcy, however, may lead to greater financial stability because it allows you to manage your debt. It also can be a way to delay the foreclosure on your home. You may experience some emotional relief after filing for bankruptcy since the stress from worrying about making your monthly payments can take its toll, not only mentally, but also physically. You will want to have as much information about bankruptcy as possible before making the decision to file.