Stripping a Second Mortgage with Chapter 13

Wasson and ThornhillHome Mortgages

Under the right circumstances bankruptcy can strip a second (or third) mortgage off your home’s title, and radically reduce how much you pay.   Summary Do you have a second or third mortgage on your home? Imagine if you could stop paying that monthly mortgage payment. Imagine over the course of the next 3 to 5 years paying only as … Read More

A Powerful, Affordable, Flexible Way to Catch up on Your Mortgage

Wasson and ThornhillHome Mortgages

Chapter 13 gives you a powerful, affordable, flexible, safe and successful method to catch up on your missed payment and save your home.   Chapter 7 “Straight Bankruptcy” and Chapter 13 “Adjustment of Debts” The two main consumer bankruptcy options are Chapter 7 and Chapter 13.Most Chapter 7 cases only takes a few months—usually 3 to 4 months—from filing to … Read More

Afford to Pay Your Home Mortgage through Bankruptcy

Wasson and ThornhillHome Mortgages

Chapter 7 clears away your other debts so that you can afford to pay your home mortgage. Chapter 13 does so by helping you deal with special debts.   Both Chapter 7 and Chapter 13 Improve Your Cash Flow A Chapter 7 “straight bankruptcy” case would very likely quickly write off (“discharge”) many of your debts. For many people it discharges most … Read More

List of How Bankruptcy Benefits Your Home

Wasson and ThornhillHome Mortgages

If you’re having trouble making your mortgage payments, or other home-related debts, here’s a list of the many ways how bankruptcy can help.   Here’s the List We’ve got a list of 15 separate ways that bankruptcy can either save your home now or protect it in the near future. Here are the first 7—the other 8 we’ll give you … Read More

Chapter 7 with a Current Mortgage But Other Liens

Wasson and ThornhillHome Mortgages

Here are 3 more Chapter 7 scenarios when you are current on your home mortgage but have other liens on your home.   Our last blog post was about situations in which Chapter 7 works well enough in the following 3 debt situations: Second or third mortgages Property taxes Income tax with a lien recorded on your home In general, … Read More

When Your Mortgage is Current in Chapter 7

Wasson and ThornhillHome Mortgages

There are certain scenarios when your home mortgage is current and you’re dealing with other home-related debts that Chapter 7 works well.   You’re current on your home mortgage payment, although you’ve been struggling mightily to keep it that way. You’re thinking very seriously about getting some financial help through bankruptcy. But you absolutely want to keep the home that … Read More

Use Chapter 13 to Buy Much More Time for Your Home

Wasson and ThornhillHome Mortgages

The advantages of Chapter 13 are more time and more flexibility in catching up on your unpaid mortgage payments. Lots better than Chapter 7.   Two blog posts ago we said Chapter 7 buys some time with your home mortgage while Chapter 13 buys much more time. We then showed how Chapter 7 can help. Today we get into how … Read More

Chapter 7 Buys You Some Time for Your Home

Wasson and ThornhillHome Mortgages

Chapter 7 buys you some time by stopping a foreclosure or delaying one from starting, and may also prevent liens from hitting your home.   Chapter 7 “Straight Bankruptcy” vs. Chapter 13 “Adjustment of Debts” Speaking very generally, Chapter 7 buys you some time with your home while Chapter 13 buys you much more time. So the questions are: how … Read More