Only if the mortgage contract is not a joint. Please keep in mind that a secured lender is given more consideration than an unsecured one to be excluded from any BK action. Most mortgage lenders are more than willing to make a reaffirmation agreement with the mortgagee if they can be convinced there will be no future difficulties.
There are many benefits associated with filing a Chapter 13 bankruptcy. The types of benefits that will result will depend on the facts of the case. Below is a few of the benefits available with filing a Chapter 13 bankruptcy.Pay Mortgage Arrears- You can set up a 3 to 5 year plan to pay mortgage arrears that are past due on your home. If you are in the process of being foreclosed and you are behind on your mortgage, you can set up a repayment plan for your mortgage arrears.Strip Second Mortgage- If your home value is below what you owe on your first mortgage and you have a second mortgage, you may be able to remove your second mortgage in a Chapter 13 bankruptcy.Pay Back Taxes- If you owe taxes to the federal and state government, you can set up a repayment plan through a Chapter 13 bankruptcy.These are just a few of the benefits that a Chapter 13 bankruptcy can provide.
If what you mean is can back owed child support payments be discharged in bankruptcy: NO. Regardless of how old the child is now. on the other hand if you mean to be included in the repayment schedule for a chapter 13 then yes. Child support arrearages can sometimes be included in bankruptcy. This pertains to arrearages only and not to current support due. A bankruptcy petition cannot override a court order of support and if arrearages are allowed to be included in a 13 the arrearages must be paid in full, not a percentage thereof, as is possible with unsecured creditors.
Here is the short answer.........No. No lender will allow this. Lenders want you to be out of Bankruptcy.This is what I do refinance people out of bankruptcy early or arrange refinancing so that my clients can avoid bankruptcy or forclosure altogether. that is what you must do in order to refi your mortgage regardless of the mortgage status with your bankruptcy plan
That depends entirely on the lending institution. In most cases the lender will choose to reaffirm the mortgage agreement with the borrower rather than go through the foreclosure process if they are convinced the borrower's financial situation is stable. The best option is for the borrower to contact the lender directly followed up by written correspondence and for the borrower to be completely honest about his or her current financial situation.
Yes, if your equity in the house is greater than the exemption you can use and you cannot pay the trustee the difference, or if there is no mortgage on the house and its value is more than the exemptions. If you are current with your mortgage when you file and get behind on your mortgage during the chapter 7, the mortgagee can foreclose. Consult a local bankruptcy lawyer.
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