When you choose to file a Chapter 7 bankruptcy, one of your biggest concerns is whether you can keep your property. The fact is that it will depend on the state’s property exemptions, which you can use to protect your assets when filing for bankruptcy. Other states allow residents to choose between the federal bankruptcy […]Read More
A Chapter 13 Bankruptcy is often considered a reorganization bankruptcy since the debtor is attempting to reorganize their debts by offering the creditor partial or full repayment through a repayment plan. This option is used when you do not have many other choices and would like to reduce the loan balance on your mortgage or […]Read More
Chapter 7 Bankruptcy is the quickest and easiest bankruptcy process, as well as the best option that can be done in around six months or less. In a Chapter 7 bankruptcy, all non-exempt assets are liquidated, and the distributions of the proceeds are paid to your creditors. Who Can File? Individuals, partnerships, or corporations who […]Read More
As economists predict another recession coming, borrowers may find themselves in a financial situation of difficulty making monthly mortgage payments. When this happens, you may have to ask your lender to make changes to the terms of your existing loan to make payments more manageable. These changes are referred to as loan modifications. They may […]Read More
Whenever an individual files for bankruptcy, either under Chapter 7 or Chapter 13, that person will be required to attend a meeting with their creditors. This meeting, otherwise known as the 341 meeting, gets its name from section 341 of the bankruptcy code. This meeting is an informal meeting with about twenty to thirty people […]Read More
The thought of facing foreclosure and losing your home is a devastating feeling. Once you have reached the point of trying to find any possible option to keep your home, you are vulnerable to scam artists that will take advantage of that vulnerability. As a homeowner, you need to be informed about the signs of […]Read More
A mortgage loan modification is an adjustment made to the terms of your original loan that will help you obtain a lower monthly or biweekly mortgage payment. Most people who are suffering from a financial setback consider applying for a loan modification. But few people understand how loan modification works. What is involved in the […]Read More
It is challenging for people to ask for financial help when they need it. However, many people go through difficult times in their lives where they fall behind in their mortgage payments. If you fall several months behind on your mortgage payments, have been turned down for a loan refinance, and are facing a long-term […]Read More
Are you behind in your mortgage payments and currently struggling to pay your lender? If your answer is “YES,” then modifying your mortgage is probably the right option for you. If you are delinquent on your loan, your credit will not permit refinancing of the mortgage balance. An outright sale of your home may not […]Read More
