Mortgage Modification

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. 13-10558 (11th Cir. June 18, 2014).  In such chapter 13 […]

In Part One, I discussed some of the options you may consider when your house (or other property) is in foreclosure, namely mortgage modifications and short sales.  This post will focus on whether a deed in lieu of foreclosure, or a Chapter 13 bankruptcy may be the right move for you. A deed in lieu […]

Your house is in foreclosure, the mortgage company is calling you every day. They make it sound like they’re going to come and put your stuff out on the street any minute. You’ve heard about, or read about, or even applied for a mortgage modification. You’ve also heard about short sales and deeds in lieu […]

Over the past dozen or so years, the bankruptcy process known as chapter 13 lien stripping has become universally accepted by the courts.  Recently, advocates of lien stripping have expanded their efforts in the next logical direction: gaining judicial recognition of lien stripping in chapter 7 bankruptcy cases. Indeed, a three-judge panel of the Eleventh […]

If you are interested in modifying your home mortgage, and your mortgage is insured by Fannie Mae or Freddie Mac, I may have some good news for you.  I say “may” advisedly.  Not only have previous programs not worked all that well, there are some very specific guidelines for this one, and if you don’t […]

As I have previously reported, the highest probability of forcing your mortgage servicer to modify your mortgage is in the Chapter 13 Bankruptcy Mortgage Modification Mediation Program. Historically, mortgage modifications since 2008 (when mortgage servicers borrowed hundreds of billions of taxpayer money in a program known as TARP) have had dismal results.  However, reports show […]