Saving a house from foreclosure is the single reason most people file bankruptcy. Bankruptcy stops foreclosure- that’s a given. But then what? How can bankruptcy save the house from foreclosure, rather than just putting off the inevitable loss? After all, the mortgage lender has a lien on the house, and liens aren’t discharged in bankruptcy. […]
You Keep Underwater Property in Bankruptcy
Good news or bad news, the bankruptcy trustee doesn’t want your underwater property. Trustees only want the good stuff, the assets that generate cash to pay creditors. That doesn’t include real estate where the debt is on par with the property’s fair market value. Will we have to sell? My clients this week own a […]
Vince Lombardi Is To Blame
Ever feel like you’re battling your mortgage lender for your life? Or the life of your home? The unfairness and irrationality of mortgage servicing makes it easy to see the fight as one for your self worth. Who is comfortable being a victim of incompetent and indifferent institutions toying with your life? I’m equally indignant. […]
Before You List Your Home For Sale: The Essential First Task
Selling your home? A letter to the servicer of your mortgage. You want full disclosure of what charges, fees, expenses and other “stuff” they want to collect from you when your sale closes. For all you know, they’ve stuffed your loan full of fees, not authorized by law or agreement, that pad their bottom […]
Make Sure Your Mortgage Is Current At Bankruptcy’s End
What do you really owe on your home mortgage when you get to the end of your Chapter 13 case? For years, homeowners couldn’t tell where they were or how to get answers. But with the recent changes to bankruptcy rules, you don’t have to wonder where you stand with your mortgage lender. Starting December […]
The Judgment Lien That Escaped Your Bankruptcy
What do you do when you discover old judgment liens on your home long after you filed bankruptcy? Your bankruptcy case is closed. You’re recovering nicely. Then you find there’s a judgment lien on your house from before your bankruptcy that you didn’t know about. And the law says that liens survive a bankruptcy case, […]
7 Keys To Keeping Your House: Chapter 13 After You File
You filed filed Chapter 13 bankruptcy to keep your house and stop the foreclosure. You’ve protected your home, for the moment. Bankruptcy gets you a sheltered legal environment to address the problems with your mortgage. You heave a sigh of relief. But the fight to keep your house isn’t over, just because there’s a stay. […]
No House, No Discharge When Chapter 13 Goes Off Script
Sound the alarm. Chapter 13 bankruptcy cases are getting dismissed right and left when debtors fail to make mortgage payments. What began as a trickle of Chapter 13 cases ending badly has become a torrent. More and more, bankruptcy judges are strictly enforcing the direct pay term of Chapter 13 plans. If your plan says […]
It Takes More Than Bankruptcy To Save Your House
Protecting your house from foreclosure ranks high on the list of reasons people file Chapter 13. The automatic stay stops foreclosures; Chapter 13 gives you time to fix the problem. Powerful stuff. But the stay and more time, alone, aren’t enough to save the day if you run afoul of other rules, written and unwritten, […]
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