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
Every month you can put off foreclosure buys you crucial time to get money together to make your move to your next housing. Last week we went through a list of ways Chapter 7 buys you time when dealing with a home foreclosure. Included was that filing a Chapter 7 case “can give you time to surrender your … Read More
If you need more time to sell your home, you can usually get more time than under Chapter 7. Can maybe even delay selling for several years. Our last blog post was about the relatively long time Chapter 13 gives you to catch up on your mortgage. Besides the 3 to 5 years it gives you, Chapter 13 also … Read More
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
As you decide whether to use the powerful tools of Chapter 13 to hold onto your home, it helps to know that you can later change your mind.
Bankruptcy cannot remove contractor’s liens or other statutory liens from your home, but both Chapter 7 and 13 can help you deal with them.
Being behind on property taxes is usually a breach of your mortgage. Chapter 13 protects you from your mortgage lender so you can catch up.
Chapter 7 “straight bankruptcy” is quick, usually quite straightforward, and appropriate for more situations than you might think.
Chapter 13 is a creative and flexible way to deal with your debts, often much more powerfully that a Chapter 7 “straight bankruptcy” can.