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Do you have to declare bankruptcy if you default on your mortgage?
Wiki User
∙ 13y ago
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.
Wiki User
∙ 13y ago
Wiki User
∙ 13y agoNo. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.
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Can you declare bankruptcy on a mortgage in NJ?
Bankruptcy is of an individual or a corporation, or entity that includes all the assets and liabilities. Mortgage is part of all the liabilities against the filer. What can be removed and what can stay depends upon the kind of bankruptcy it is- ch 7, ch 11, or ch 13. Best bet contact a good bankruptcy Attorney.
How does Wells Fargo handle a default on mortgage?
Mortgage lenders foreclose when there is a default on a mortgage.
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.
Will bankruptcy protect me from foreclosure by my mortgage company?
Yes, bankruptcy protect you from foreclosure by your mortgage company. You can read more at www.hirby.com/mortgage-lender-filing-for-bankruptcy
Is it possible to just declare bankruptcy on credit cards?
You can declare bankruptcy due to credit card debts, yes.
Can you maintain a mortgage loan and still declare bankruptcy?
I am not certain about other states, but in Texas you can. I believe this is the case nationwide, but you should consult a bankruptcy attorney in your state to be certain.
Can you declare bankruptcy on a mortgage in NJ?
Bankruptcy is of an individual or a corporation, or entity that includes all the assets and liabilities. Mortgage is part of all the liabilities against the filer. What can be removed and what can stay depends upon the kind of bankruptcy it is- ch 7, ch 11, or ch 13. Best bet contact a good bankruptcy Attorney.
Are you required to keep home insurance after bankruptcy discharge?
If your still buying the house and you still owe the mortgage company then Yes. It is a part of your mortgage contract. Failure to comply with the terms of your mortgage contract will put you in default on your mortgage and subject you home to foreclosure. It has nothing to do with whether you filed a bankruptcy or not, it's a totally separate issue.
Can you work after you declare bankruptcy?
Yes, you are not required to be unemployed to declare bankruptcy.
How does Wells Fargo handle a default on mortgage?
Mortgage lenders foreclose when there is a default on a mortgage.
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.
Will bankruptcy protect me from foreclosure by my mortgage company?
Yes, bankruptcy protect you from foreclosure by your mortgage company. You can read more at www.hirby.com/mortgage-lender-filing-for-bankruptcy
Can mortgage company foreclose on an estate home in probate?
Yes, if the mortgage is in default.Yes, if the mortgage is in default.Yes, if the mortgage is in default.Yes, if the mortgage is in default.
How soon can foreclosure occur after default on discharged bankruptcy?
Depends on if the loan is actually secured by a Deed of trust (which has become much more popular) or by an actual mortgage.
Did the US declare bankruptcy?
No
Is it possible to just declare bankruptcy on credit cards?
You can declare bankruptcy due to credit card debts, yes.
When is it necessary to declare bankruptcy?
It is necessary to declare bankruptcy when a person cannot afford to continue paying for bills and other things they need. A person may declare bankruptcy if their business is not making any money.
