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If a chapter 7 bankruptcy has not been discharged is it a law stating a lender cannot offer you a home mortgage or would they just be crazy to do so?
Wiki User
∙ 8y ago
Ch7 Bk must be discharged prior to acquiring a mortgage.
Wiki User
∙ 8y ago
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How do you know when your chapter 13 bankruptcy is over?
You will receive a letter that your bankruptcy is discharged. You can also call the bankruptcy court or the trustee and find out if it is final.
If you filed Chapter 7 six years ago and it was dismissed but the credit bureaus will not take it off how do you get it removed?
A CHAPTER 7 BANKRUPTCY TAKES 10 YEARS BEFORE THIS IS REMOVED OFF OF YOUR CREDIT REPORT. THE GOOD NEWS THIS DOES NOT AFFECT YOUR CREDIT ANY LONGER! *********************I filed Chapter 7 in 2003 and depending on what your state court's definition of "dismissed" is it CAN affect your credit. For instance, some courts definition of "dismissed" is the same as "discharged." In Ohio it is "discharged" and I no longer owe any debt, however it DID IN FACT AFFECT MY CREDIT. I can NO LONGER get any. I received denial letters stating the reason for being denied, "Bankruptcy." So do your homework according to your state.
My wife filed chapter 7 in 1989 before we were married We had to file chapter 7 in 2001 is there a law in Washington state stating that she can't file again?
No. The Federal restrictions sill apply. She can file again after a certain period. Bankruptcy is not part of financial planning. Under the bankruptcy laws effective on October 17, 2005, Chapter 7 cannot be filed unless the debtor was discharged from the previous Chapter 7 or bankruptcy more than eight years ago. The debtor cannot file a Chapter 13 unless: (1) the debtor received a discharge under Chapter 7, 11 or 12 more than four years ago; or (2) the debtor received a discharge under Chapter 13 more than two years ago.
What should you receive from lender when you pay off your mortgage?
A letter of release stating that the mortgage is paid in full.
Can the bankruptcy petitioner personally request approval from the court to apply for a mortgage loan while in a chapter 13 to avoid attorney fees?
Yes. The petitioner can contact the bankruptcy trustee that is in charge of his or her BK for the procedure necessary. It is understandable that persons in legal situations would like to avoid attorney fees. It is usually not a good idea, as the end results are often more expensive than if one had obtained legal representation beforehand. (Not looking for business, just stating facts.)
Can new debt be collected after bankruptcy?
Yes, the debts protected under a bankruptcy proceeding are enumerated when bankruptcy is filed. Any debts accrued by the bankrupt party in the future are not protected by a previously filed bankruptcy.
Enquiries on chapter 4 verse by verse?
If you submit this answer again stating which book of the Bible, chapter 4, then perhaps I may be able to help.
What is a No Opposition Order in a Chapter 13 when a Motion for Relief from Automatic Stay is filed?
In 37 years of bankruptcy practice, i have never seen a "No Opposition Order." If no opposition to any motion is filed, after the time allowed for such oppositions, the court issues an order allowing the motion, stating that no opposition was filed.
Does a quitclaim deed transfer mortgage payments to the Grantee?
Absolutely not. The property remains subject to the mortgage and the person who signed the mortgage remains responsible for paying the loan. You should review the documents you signed when you granted the mortgage. The lender usually includes a clause stating that in the event of any transfer of interest in the property the full amount owed is due immediately. If the grantee wishes to assume the mortgage that must be done with the written consent of the lender and the written guarantee of the grantee.Absolutely not. The property remains subject to the mortgage and the person who signed the mortgage remains responsible for paying the loan. You should review the documents you signed when you granted the mortgage. The lender usually includes a clause stating that in the event of any transfer of interest in the property the full amount owed is due immediately. If the grantee wishes to assume the mortgage that must be done with the written consent of the lender and the written guarantee of the grantee.Absolutely not. The property remains subject to the mortgage and the person who signed the mortgage remains responsible for paying the loan. You should review the documents you signed when you granted the mortgage. The lender usually includes a clause stating that in the event of any transfer of interest in the property the full amount owed is due immediately. If the grantee wishes to assume the mortgage that must be done with the written consent of the lender and the written guarantee of the grantee.Absolutely not. The property remains subject to the mortgage and the person who signed the mortgage remains responsible for paying the loan. You should review the documents you signed when you granted the mortgage. The lender usually includes a clause stating that in the event of any transfer of interest in the property the full amount owed is due immediately. If the grantee wishes to assume the mortgage that must be done with the written consent of the lender and the written guarantee of the grantee.
What are the current rates offered by abbey mortgage?
Abbey Mortgage rates are between 5 and 6 percent for the current year, 2011. They claim to have reduced rates, however, may naysayers are stating their rates have actually increased.
What do you do if your ex wants to declare bankruptcy?
Check your divorce paperwork. Usually, there's a provision within the decree stating that any financial obligations- such as alimony or child support- are still valid claims when a bankruptcy is declared. If your lawyer didn't do his/her homework and there is no such provision, you stand in line with the ex's other creditors. I am not giving legal advice and nothing in this posting should be construed to be legal advice, but it is my understanding that when one ex-spouse files bankruptcy on a mortgage, the mortgage lender usually doesn't care so long as the other ex-spouse maintains payments. This doesn't mean that your particular mortgage lender will agree. Please understand that I am not suggesting any course or action or inaction, I am simply relating what my understanding is, which may or may not be accurate in your jurisdiction I don't think there is much you can do except give your ex morale support as they are not legally tied to you so therefore you are not responsible for any debts that your ex has accumulated ever since the break up.
What is a Mortgage Take Out Letter?
A take out letter is an approval letter that the bank provides to a borrower, stating that you are approved for the final loan on the home once it is completed.
