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Bankruptcy is of an individual or a corporation can not distinguish between creditors.
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∙ 13y ago
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Do both parties on a joint mortgage have to file bankruptcy on a joint mortgage?
No, both parties on a joint mortgage do not need to file bankruptcy. They can file a joint bankruptcy or a single bankruptcy.
Can you file bankruptcy on a second mortgage and continue to pay on a first mortgage?
Better consult an Attorney in your jurisdiction for the same.
Can you file bankruptcy if your first mortgage is 170000 second mortgage is 300000 and the value of the house is about 300000?
Yes...those factors make no difference.
Can you file bk on second mortgage?
You don't file bankruptcy "on" any debt. You file bankruptcy because you can't pay your debts, and they must ALL be listed. If the house is worth less than the first mortgage payoff, the second may be crammed down in a C. 13. If the plan is not completed, it may be resurrected.
Can you keep your home if you file chapter 7 bankruptcy and owe more on your second mortgage than the first?
yes
Can you reafirm your 1st mortgage and file bankruptsy on your second mortgage?
That would be a good trick No if you go bankrupt all of you goes bankrupt, Unles you have freinds in high places. Can't spell and is dangerously wrong. You can only "cram down" the second mortgage in a Chapter 13, and only if there is no equity for the second to attach to. But it can be done if you meet those criteria. You don't "file bankruptcy" on a debt. You file bankruptcy and list all your debts.
Do you have to declare bankruptcy if you default on your mortgage?
No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.
Can you reaffirm your first mortgage without reaffirming your second mortgage after filing bankruptcy?
You should file a 'proof of claim" with the bankruptcy court and take you place in line to be paid...whcih will likely be a few pennies on the dollar.
If I file for bankruptcy can I still refinance my mortgage?
You would probably be better off refinancing your mortgage first and then applying for bankruptcy later on. My mom had to file for bankruptcy due to credit card debt she could not pay.
Can a person keep and file bankruptcy if the home is under any mortgage?
Yes he can file for Bankruptcy if he wants to depending on the situation of his property.
Can you file chapter 13 bankruptcy keep your house but get rid of a second mortgage?
It depends on whether the second mortgage attaches to any equity in the property. If the house is worth as much or more than the first mortgage balance, you may well be able to.
Can you get a reverse mortgage if you file bankruptcy?
Yes, a reverse mortgage does not have any credit requirements, however if you are in bankruptcy or filing one you may need court approval to do the reverse mortgage.
