The mortgage lender’s property insurance does not leave you in good hands. No matter how much time it saves you. Your lender is not a good neighbor when it comes to insurance. When your home insurance lapses Somehow my client let her homeowners insurance lapse. She wasn’t worried about it, she told me, because the […]
How 13 Works To Save Your House From Foreclosure
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. […]
When The Lender Changes Its Tune After Chapter 13
The mortgage servicer took less than 30 days to change its story, big time. In three weeks time, the loan servicer went from telling the bankruptcy court, under penalty of perjury, that the loan was current, to telling the homeowner that she was $50,000 behind. The whole story appears here. Three weeks! And there, in […]
Bankruptcy Alphabet: H is for House
In my bankruptcy alphabet, H is for house. Can I keep my house if I file bankruptcy, anxious homeowners ask. In most cases, my answer is “yes”. Should you keep the house is another question. Houses are vulnerable in bankruptcy only if there is If the trustee can’t sell the property for enough money to […]
5 Essential Tips To Understand Your Mortgage Loan
Figuring out what your home loan balance is can be harder than a calculus exam. For most people, their mortgage is their biggest debt. And their home is their most important asset. Yet, the people accounting for your payments are increasingly incapable of the very basics of their job. And that makes your job, as […]
Get Rid Of Liens On Your Home
Bankruptcy gives you a super power: you’re able to remove liens on your home, for good. You can’t wipe out every kind of lien. But bankruptcy law allows you to invalidate judicial liens that attach to your home and invade any exemption you are entitled to. The power is available to individuals in any chapter […]
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, […]
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. […]
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