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Bankruptcy can help in several ways. A Chapter 7 can allow you to avoid being taxed on any debt forgiveness, allowing the foreclosure to go through.
A Chapter 13 can allow you to propose a plan, if you have enough excess income to pay it, that will allow you to get caught up on any arrears. It will also stop any penalties and late fees.
In either a 7 or a 13, your unsecured debt will be discharged, though you may have to pay up to 100% of the unsecured debt in a Chapter 13.
You may be able to negotiate a change in the terms of the mortgage or gain time to resolve your financial issues and pursue a short sale (selling for less than owed on the mortgage) or even be allowed to stay, maybe while paying something in lieu of rent.
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Where can one get help to refinance himself or herself out of bankruptcy?
One can get help refinancing a mortgage by visiting a bank or a mortgage specialist. This type of refinancing can help someone to get out of bankruptcy.
Where can people who are behind on their mortgage payments find help?
People who are behind on their mortgage payment can find help on the internet just go to Google Homepage and type on the search bar "mortgage payment help". There you will see a different results which will help you about your problem.
What should I know about bankruptcy and mortgage refinance?
You can refinance your mortgage, even after a bankruptcy. Refinancing can even help restore your good credit in about two years! Sit down with your lender and talk about a refinancing plan.
How does Chapter 13 Bankruptcy help a person?
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.
Can you file bankruptcy to stop a foreclosure if your name is not on the mortgage?
No, sorry, that wouldn't help a bit, and just damage your credit score.
Will my options for home mortgage interest rates be compromised by my having filed bankruptcy recently?
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.
What mortgage company will finance a new mortgage loan if you are currently in Ch. 13 bankruptcy?
There are several, if you want I can assist you in the process. I am a mortgage banker/broker. Feel free to contact me at my office 214)607-1445. If I cant help you, then I'll at least point you into a better direction.
Could oprah winfrey help me financially to save my home has I have fallen behind with the mortgage due to death in the family?
no
Can you refinance after chapter 7 bankruptcy if you are behind in mortgage payments?
Yes, there is a federal program to help people in foreclosure. You should be able to locate a state or federally sponsored agency that will help you. Several of the biggest mortgage companies like to play games and lose your paperwork, change the person "assigned" to your case, never return phone calls or respond to letters. There are starting to be lawyers who specialize in these cases, so check with your local or state bar referral agency. You may be able to file a chapter 13 with a plan to get current if you can do it within 3-5 years. Consult a local bankruptcy lawyer.
Does eating help you with math?
If youre starving, yes If youre about to explode, no
How is the tenant affected when a landlord files Chapter 7 Bankruptcy?
It depends on the way the house is included in the bankruptcy. If the mortgage is up to date and the landlord is reaffirming the mortgage, there should be no effect. If the landlord is abandoning the property to the mortgagee, you will either get a notice to start paying rent to the mortgagee or a notice to quit or both. Talk to a bankruptcy lawyer right away, as there are some things you may be able to do to delay things or get help moving.
Is there government funds to help if your mortgage is behind with payments?
Yes just check around your state to c any housing programs
