My colleague, Jed Berliner, wrote recently about getting stuck with a home that your thought you surrendered in a bankruptcy case to your mortgage lender. Yes, Virigina, the American dream is dead, dead, dead, But there is a way to avoid getting stuck with real estate after a bankruptcy, but it all depends on where [...]
Mortgage Issues In Bankruptcy
You might be able to pay off what you are behind on a mortgage over a three to five year period, but not all at once like your mortgage servicer is demanding. Chapter 13 provides the powerful right to force a payment plan on a mortgage lender who wants to foreclose. Once the decision to [...]
Last time, we talked about how a mortgage modification could screw up your ability to avoid a second mortgage in a Chapter 13 bankruptcy. If your principal balance is lowered on your first mortgage, your second mortgage may survive a Chapter 13. But there are other dangers for Chapter 7 in the mortgage modification settlement. [...]
One of the major benefits of Chapter 13 Bankruptcy is the ability to avoid second mortgages that are not secured by any value in your home. By following standards outlined in the Bankruptcy Code, you can reclassify that loan on your home into the same category as credit cards or other ordinary bills and discharge them [...]
WHAT: Bankruptcy attorney Chip Parker will join The Honorable Paul M. Glenn, Bankruptcy Judge, and the Chapter 13 Bankruptcy Trustee Douglas Neway to discuss the bankruptcy court’s new Bankruptcy Residential Mortgage Mediation Program. WHEN: January 5, 2012 at 9:00 a.m. EST WHERE: WJCT 89.9 FM or listen live on the internet DESCRIPION: Earlier this month, the [...]
Incomplete notary acknowledgment can destroy a mortgage’s enforceability against third parties
