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What else can I help you with?
Can you file and keep your house if you have a second mortgage?
You will be able to keep the house provided you keep making the mortgage payments. In a chpt. 13, if the 1st mortgage amount is higher than the house value, you can strip the 2nd mortgage and treat it as an unsecured creditor. If the house value is higher than the 1st mortgage, then you will need to keep paying both mortgages.
You went through chapter 7 2 years ago and found your 2nd mortgate listed on your credit report as discharges and included in bankruptcy 0 balance what does this mean?
It may mean the credit report is in error. It may mean there was no equity supporting the second mortgage and your lawyer filed a motion to "strip" it down (especially if it was before the 2007 changes took effect). It may mean you do not owe the second mortgage any more. It is unclear if the credit report is a new one, and you don't say if you've been paying the second mortgage since then.
What sort of property can I get a commercial mortgage lender to help me acquire?
A commercial mortgage lender can help an individual acquire multi-unit properties such as office buildings, strip malls, apartment complexes, and retirement homes.
Can you file bankruptcy on a second mortgage and multiple credit cards?
It depends on what you want to do with the house secured by the second mortgage and which chapter of bankruptcy you file. First, regarding the credit cards, yes you can always file on multiple credit cards so long as they were not used in anticipation of bankruptcy. Generally it is a good idea to wait at least 90 days since any card was used before filing the bankruptcy case, and DO NOT make any charges once you think you may file bankruptcy. The run-up-the-cards-before-filing-bankruptcy technique many people think is so clever may be deemed fraud and can result in a federal lawsuit (called an Adversary Proceeding) and repayment of the debt plus attorneys fees. Second, regarding the second mortgage: If you want to keep the home, the second mortgage must be kept also UNLESS you are filing Chapter 13 AND the amount of the first mortgage exceeds the value of the home at the time of filing. So, in the vast majority of cases, if you file bankruptcy you are stuck with all mortgages if you want to keep the home. By way of example of the rare instance when a junior mortgage can be discharged in bankruptcy, say your home is worth $100,000, and you owe $101,000 on your first mortgage. If you file Chapter 13 (repayment plan), you can "strip" the second mortgage (and third, fourth, etc) since the amount owed on the first mortgage exceeds the value of the home. In Chapter 7, you have to keep all mortgages regardless of the value. Another example, say you owe $99,999 on the first mortgage and the home is worth $100,000, and you have a second mortgage on which you owe $50,000. The entire $50,000 second mortgage survives no matter what chapter of bankruptcy you file because it is secured by $1. Yes, only $1 can commit you to the entire second mortgage. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts and law, which I do not warrant, and I am not suggesting any course of action or inaction to any person. Speak to a lawyer for specific advice. If you have any questions, please refer to a lawyer in your jurisdiction. Thanks!
My 1st mortgage is 309 and 2nd is 90.The property value is 225 now. can I do a bankruptcy chapter 7 or 13 and loan strip the 2nd and get a princial reduction on my first?
Unlikely
San Bernardino class action lawsuit strip search when will you get your second check from settlement?
i was told they will not issue the second check until late october or early november when can we expect the second check
Are there any 4 bedroom suites in las vegas on the strip?
The Skyline Terrace Suite is the epitome of Vegas suites of the Las Vegas Strip; Master bedroom on second level with large bathroom.
Does any team wear a purple strip in Fifa world cup 2010 the game?
It is Spains second jersey.
What is the future tense of strip?
The future tense is will strip.
What is a magnetic strip code?
a strip code is a code that has a strip
Who is the second richest author?
James Robert Davis is the second richest author who has a net worth of $800million. He is famous for creating the popular comic strip Garfield and responsible for creating Garfield television special.
What can fish can eat a man in second s?
Piranhas can strip ducks to bones in seconds so I don't see a reason that they can't do it to a person.
