No. Nothing has really changed for the borrower. He/she just now owes the money to a different person. The mortgage has been sold, and is owned by a new person. Its status is still the same -- either current, late, or in default. The new owner/lender may choose to not pursue it, or may pursue it more aggressively (e.g., foreclose). However, the borrower's protections under Chapter 13 are still the same -- the new owner of the loan has no better/worse status or more/less powers.
You need to consult with an attorney. If you have not filed bankruptcy then you may be responsible for paying the mortgage you co-signed.You need to consult with an attorney. If you have not filed bankruptcy then you may be responsible for paying the mortgage you co-signed.You need to consult with an attorney. If you have not filed bankruptcy then you may be responsible for paying the mortgage you co-signed.You need to consult with an attorney. If you have not filed bankruptcy then you may be responsible for paying the mortgage you co-signed.
no
If you have just filed bankruptcy, you will not be barred from ever obtaining a mortgage loan; however, you will not be able to get one immediately. When you can get a mortgage after bankruptcy will depend upon the type of loan you want, the type of bankruptcy you filed, and how good your credit is at the time you want the loan.
Yes. When you file bankruptcy you are required to fill out a number of forms. Schedule D is the form for Creditors holding secured claims and a home mortgage is a Secure Debt. You will have a complete list of all your creditors names, addresses, account numbers on a form called the Creditor's Mailing Matrix. The Bankruptcy court sends notification to all the creditors listed that you have filed bankruptcy.
no...
You need to consult with an attorney. If you have not filed bankruptcy then you may be responsible for paying the mortgage you co-signed.You need to consult with an attorney. If you have not filed bankruptcy then you may be responsible for paying the mortgage you co-signed.You need to consult with an attorney. If you have not filed bankruptcy then you may be responsible for paying the mortgage you co-signed.You need to consult with an attorney. If you have not filed bankruptcy then you may be responsible for paying the mortgage you co-signed.
no
mabey 87% sure
If you have just filed bankruptcy, you will not be barred from ever obtaining a mortgage loan; however, you will not be able to get one immediately. When you can get a mortgage after bankruptcy will depend upon the type of loan you want, the type of bankruptcy you filed, and how good your credit is at the time you want the loan.
No the bankruptcy will not show on your credit history unless you filed as well. However, now the mortgage company has the right to come after you in full for the amount owed, since the Court has released him from all obligations.
Yes. When you file bankruptcy you are required to fill out a number of forms. Schedule D is the form for Creditors holding secured claims and a home mortgage is a Secure Debt. You will have a complete list of all your creditors names, addresses, account numbers on a form called the Creditor's Mailing Matrix. The Bankruptcy court sends notification to all the creditors listed that you have filed bankruptcy.
If you have filed bankruptcy recently your options for low home mortgage interest rates are going to be very slim, if they exist at all. In fact it will be hard to get a mortgage from a reputabel company at all, especially if a home was involved in the bankruptcy proceedings. It will depend on how recent the bankruptcy was, what all was involved in the proceedings and how you have resolved things since as well as finding a bank that may have a program designed to help people in your situation.
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.
Google "free sites to find out if a person has filed for bankruptcy".
no...
What happens to a mortgage after bankruptcy depends on whether or not the debt is reaffirmed. If the mortgage is reaffirmed the homeowner continues to pay it as if the bankruptcy had not been filed, since the debt has not been discharged. If the debt is not reaffirmed, what happens to the mortgage depends on the policies of the individual lender.
During bankruptcy proceedings, under normal conditions ALL collection activity stops. The mortgage company may not foreclose, take action against you, nor call you to collect. Of course, there may be exceptions to this.