Photo by Ronnie George on Unsplash. Chapter 13 works with the pandemic’s mortgage payment forbearance process so that you can sell your home if and when you’re ready to do so. Last week we showed how Chapter 7 helps you take advantage of the pandemic foreclosure moratorium when selling your home. Today we show how it works even better with … Read More
If you own a home with a qualifying 2nd or 3rd mortgage, one of the best reasons to file a Chapter 13 case is to “strip” off that mortgage.
If behind on property taxes on property with a mortgage, that likely puts you in default on the mortgage itself. Chapter 13 can fix this.
If you’ve fallen behind on your mortgage, it’s very hard to catch up. It may even seem impossible. Chapter 13 makes it possible.
Here’s an example of how Chapter 13 can allow you to hold onto your home but then change your mind about it later.
Both Chapter 7 and Chapter 13 can wipe away judgment liens. But doing so under Chapter 13 can be better when used with its other benefits.
If you are behind on your mortgage and want to sell, you may be able to delay the home sale for years and pay the arrearage out of the sale.
You have much, much more time to catch up on unpaid mortgage payments, as well as any unpaid property taxes.
These 10 tools, especially used in combination, can defeat your mortgage debt and other home-based challenges.
Chapter 7 strengthens your hand with your secured debts. But Chapter 13 can be much stronger. Starting with a more potent “automatic stay.”
If your second (or third) mortgage is not backed by any equity in your home, you can “strip” that mortgage off your home’s title.
Chapter 13 gives you much more time to catch up on your unpaid mortgage payments. That can be reason enough choose this option.
Chapter 7 usually lets you retain your home if you are current (or not too far behind) on your mortgage payments (& other home-based debts).
Adjusting your mortgage and other home-related debts under Chapter 13 can often give your home the very best fresh start.