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When you do not include your house in a bankruptcy and then get a loan modification but still cannot pay the monthly payment can the bank take your house if you pay something on it every month?
Wiki User
∙ 10y ago
Yes, if you are not making payments on your home, the bank can foreclose. Even if you are paying something, if you are not paying the amount agreed to in the loan modification or original contract, the bank can foreclose. If bankruptcy is active, they may need permission from the court but if payments are not being made in a timely fashion the court generally grants permission to foreclose. The moral of the story - make your payments or the bank can foreclose!
Wiki User
∙ 10y ago
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Is tithing an acceptable monthly expense when being considered for mortgage loan modification?
Is tithing an acceptable monthly expense when being considered for mortgage loan modification?
Can food stamps be added to your monthly income for a loan modification?
Depends what you give me.
Is it possible for a creditor to take your monthly salary after filing bankruptcy?
No, unless the creditor gets relief from stay or the bankruptcy is dismisssed.
Why does a homeowner need a loan modification?
If a homeowner suffers financial hardship.They should apply for Loan modification from lender to reduce monthly payments on there mortgage as a way to minimize financial hardship.That's it.
How is the monthly dues of a home owners association handled in a chapter 7 bankruptcy?
Your bankruptcy attorney is best prepared to answer your question, especially if you expect to continue living in the home.
What does federal bankruptcy do?
you still have to pay back all debts, just on a stuctured settlement determined by the courts. after declaring bankruptcy, you will not be allowed to have any credit extended to you without permission of the court. if you include your house or any vehicles, you cannot sell them without permission. what it amounts to is the bankruptcy court is in charge of your finances other than monthly utilities. it all depends on which chapter you file-consult an attorney
How do you clear your bankruptcy?
pay it off monthly with what money you can or put money away and keep it till you have a bit.
What is retro monthly bonus?
Something cool.
Once you file bankruptcy do credit card companies and collection agencies still charge late fees and monthly fees?
They might, but it would do them no good as long as your bankruptcy goes through to discharge. If they were listed as a creditor on your bankruptcy, the automatic stay prevents them from pursuing you for the debt, or late fees and monthly fees related to the debt. However, if your case is dismissed for some reason before a discharge is granted (because, for example, you fail to show up at the meeting of creditors), none of your creditors will go away, and all late fees and monthly fees will continue to accrue.
Can you negotiate your monthly payment after your car was repossessed and sold at auction and you have several thousands left to pay?
You can certainly try. Any halfway intelligent bank manager would rather see something comming in on the note rather than have you file bankruptcy and get nothing.
How can I go through home loan modification?
Bank of America offers different modification programs which may be available to qualifying borrowers who are experiencing financial hardship. The goal of these programs is to modify your home loan so the monthly payments are more affordable and sustainable.
Can i add a student loan in a filing for bankrutpcy?
In the U.S., you can include a student loan in a bankruptcy and try to get it approved for economic hardship, but it rarely works. Federal and private student loans are not eligible to be discharged in bankruptcy and are rarely allowed by judges.If you need help consolidating your default student loans and get a low monthly payment or 3 years of no payment, call Default Management Services. You can Google them. Ask for Doug.
