Forbearance Extension Helped by Bankruptcy

Wasson and ThornhillHome Foreclosures

financial rollercoaster

Photo by Matt Bowden on Unsplash. The mortgage forbearance extension can be helpful. But the whole situation is extremely stressful. Bankruptcy can help in many ways. Wild Foreclosure Moratorium Rollercoaster Ride If your mortgage has qualified for the federal mortgage foreclosure moratorium, the last 11 months have been a wild ride. Since the original 60-day foreclosure moratorium in March 2020, … Read More

Another Extension of the Mortgage Foreclosure Moratorium

Wasson and ThornhillForeclosure

man worried about foreclosure

Photo by [ik] @invadingkingdom on Unsplash. President Biden acted immediately to re-extend the previously extended federal foreclosure moratorium. It now goes through March 31, 2021. New Foreclosure Moratorium Extension through March 2021 On the day of President Biden’s January 20 inauguration, the White House stated that: he will ask the Department of Veterans Affairs, Department of Agriculture, and the Department … 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