The Home Affordable Modification Program, better known as HAMP, was launched by the U.S. Government in 2009 with the primary goal of helping struggling homeowners avoid foreclosure by reducing their monthly mortgage payments. As HAMP has now closed, homeowners are struggling to find options to avoid losing their home to foreclosure. If you are one of these homeowners that has been let down by the mortgage modification process or are running out of time to save your home from a foreclosure, a chapter 13 bankruptcy may be the next best option for you to consider. A chapter 13 bankruptcy can allow you to save your home from a foreclosure sale by paying back the arrearages, or the amount you are delinquent on your mortgage at the time of filing, through the chapter 13 bankruptcy plan over a period of five years. Along with the arrearages, your regular monthly mortgage payment will be paid through the chapter 13 bankruptcy plan. Upon completion of the chapter 13 bankruptcy, you will be current on your mortgage payments with the mortgage arrears paid in full, and your unsecured debt listed in the bankruptcy will be discharged.