You’ve finished your Chapter 13 and emerged from bankruptcy with your home loan current. But your credit report is a blank page as to your mortgage. The mortgage servicer isn’t reporting your payments to the credit reporting agencies [CRA’s]. Nothing. Nada. Crickets. So, even though you’re making regular payments, you’re not visibly rebuilding your credit. […]
Know What You Really Owe: Your Mortgage Loan Rights
You’ve got a lot to keep an eye on. You probably regularly check Your blood pressure. Your credit report. Your stock portfolio. Your bank balance. Your team’s standings. Yet chances are, your home is your biggest investment and perhaps even the cornerstone of your retirement plan. But you have no idea what you really owe […]
Facing Foreclosure, You Need A Plan B
Bankruptcy stops foreclosures, with certainty. It’s the surefire defense to a scheduled foreclosure sale. Then why do homeowners keep waiting til the day before the sale to find a bankruptcy lawyer? Most of the other ways to stop a foreclosure sale require either gobs of money or an agreement with the existing lender or a […]
How To Save Your House With Chapter 13 Bankruptcy
Saving 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, […]
Bankruptcy Debtors Entitled To Monthly Mortgage Statements
Servicers must now send monthly mortgage statements to borrowers in bankruptcy under a new CFPB rule effective April, 2018. Thus ends, we hope, years of uncertainty and indifference, rooted in the automatic stay and a homeowner’s ongoing obligation on their mortgage after bankruptcy. The earlier version of the rule, adopted in 2014, allowed servicers […]
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 […]
Don’t Trust Anything Your Lender Says On The Phone
Don’t trust the loan servicer for a moment, was my advice to the client who was trying to track payments he’d made on his home mortgage . The mortgage industry has created an inhabited accounting swamp around your home; the lender’s representative lives in that swamp. Don’t turn your back on a carnivorous predator. I’m […]
Sloppy Mortgage Servicers Prey On Borrowers
Given the way they behave, you’d think mortgage servicers actually flew a pirate flag over their operations. They cash your check for the mortgage payment, then who knows what they do with it and what they credit it to. Outside of bankruptcy, screw ups in handling your payments are a breach of the contract […]
7 Keys To Keeping Your House: Chapter 13 After You File
Filing Chapter 13 bankruptcy stops 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. You’ve just gotten through the first round. […]
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