Bankruptcy and Foreclosure
What can Chapter 7 Bankruptcy and Chapter 13 Bankruptcy do for my Foreclosure? Chapter 7 Bankruptcy cannot stop foreclosure. It can stall foreclosure. If you receive a Chapter 7 Bankruptcy discharge, you are not personally liable for the debt after they foreclose on the collateral. Chapter 13 Bankruptcy can stop foreclosure as long as you timely […]
The Foreclosure Process or Timeline
What is the Foreclosure Process or Timeline? When you are late on your mortgage payments, usually by several months, you will receive a notice of default from a trustee, a third party that works for the beneficiary of your mortgage (aka your lender). In the notice of default, it will state the arrearage amounts that […]
What is the Best Thing About Bankruptcy?
What is the best thing about bankruptcy? The answer to this question will be different for different people. For some people, the best thing about bankruptcy is discharge of debts. Bankruptcy can be a huge relief if you have insurmountable credit card debts, medical bills, unsecured personal loans, deficiency from car repossession or foreclosures, guaranteed […]
What Can I do to Save My Home from Foreclosure?
What can I do to save my home from foreclosure? One effective way to save your home from foreclosure is to file a Chapter 13 Bankruptcy before the foreclosue date or Trustee Sale date. However, you must be able to afford the Chapter 13 Bankruptcy plan payment for a 3 to 5 year period. The […]