Mortgage Issues In Bankruptcy

06 Jun How Chapter 13 Stops a Pending Mortgage Foreclosure

Chapter 13 is widely known as the fastest and most effective legal action you can use to stop a foreclosure - even a foreclosure scheduled for the next few days. In this video, I explain how Chapter 13 works and why you can feel confident that your Chapter 13 filing will not only stop a pending foreclosure, but it will provide a method by which you can catch up your missed mortgage payments over the next 5 years.
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24 Apr The Reverse Mortgage. What You Need To Know!

There is a familiar expression:  "The road to Hell is paved with good intentions!" I'd like to think that the individuals that came up with the concept of the reverse mortgage had good intentions.  The reality I see in my bankruptcy practice is elderly people, who are...

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19 Jun Another Appeals Court Approves 2nd Mortgage Stripping in Chapter 20 Cases

The U.S. Court of Appeals, Eleventh Circuit, ruled that in a chapter 13 case filed within four years of a previous chapter 7 case (a so-called "chapter 20"), the chapter 13 plan could strip a completely unsecured junior mortgage. Wells Fargo Bank v. Scantling, No....

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06 Feb Should You Try to Keep Your Home When You File Bankruptcy?

bankruptcy and my homeThis week an interesting article about Atlanta real estate appeared in a local business blog, and I think that the warning issued by the writer could apply to bankruptcy filers anywhere in the country. Entitled “Easy Money as Landlord of Cheap Homes Proving an Elusive Dream” explains how large investment funds purchased thousands of Atlanta area homes following the 2008 - 2010 real estate crash with the idea of renting them out, securitizing shares in the investment venture, then selling the properties six or seven years hence when prices rebounded. I had a first hand view of this business model because a close friend of mine in the real estate brokerage business worked with one of these investment firms and at times was writing hundreds of offers per week. Politicians and newspapers report that the housing market is improving and prices are headed back up, but no one is looking beyond the raw numbers.
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26 Aug Beware Of This Person When Trying To Wipe Out A Second Mortgage In Chapter 13

You can get rid of a second mortgage in a Chapter 13 bankruptcy, but beware the opposing expert. We've talked about dealing with a second mortgage in a Chapter 13 bankruptcy. It can be a simple exercise so long as your first mortgage eats up all of the equity in the home. If the first mortgage eats up the equity, the second mortgage can be treated the same way as any other unsecured debt in your Chapter 13 bankruptcy. If you're paying (for example) $0.10 on the dollar to your credit card companies, you pay that same percentage to your second mortgage through your Chapter 13 Plan. At the end of the case, the balance of the second mortgage gets wiped out. That is, unless there's a battle.
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