property taxes Tag

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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29 Jan Chapter 13 Debtors Beware: Recurring Problems with Mortgage Companies – Part 4 Forced Escrow

In parts 1, 2 and 3 we discussed how mortgage companies often engage in "double dipping", how they often fail to send you monthly statements, and they ways in which they misapply monthly mortgage payments during your Chapter 13 case. Part 4 discusses how a mortgage company can force a homeowner to add escrow to their monthly payments. Many individuals file a Chapter 13 bankruptcy because they fell behind on their mortgage and property taxes. A Chapter 13 bankruptcy will allow you to pay the back due mortgage payments and property taxes over a period of three to five years, rather than coming up with a lump sum to get both current. As long as you continue to make your monthly Chapter 13 plan payments and your ongoing mortgage payment, the mortgage company cannot take any adverse action against you or your property. However, if you fail to pay your property taxes the mortgage company could step in and pay them without giving you notice.
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