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You are on mortgage loan with daughter who is going to file bankruptcy Can mortgage co come after you?
Wiki User
∙ 14y ago
Yes, and you can bet they will. You need a lawyer as well!
Wiki User
∙ 14y ago
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If you filled for bankruptcy then modified a mortgage can the mortgage company come after you or will it still be in your bankruptcy?
Great question for your BK attorney
My ex-husband of 8 years filed bankruptcy on a home that I signed a quit claim on but my name is still on the mortgage as a co-debtor will this show as a bankruptcy on my credit report as well?
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.
If you filed chapter 13 bankruptcy 9 years ago will it come out if you apply for a mortgage loan?
of course it will, BKs are on a credit report for 10 years
Which is better repossession or bankruptcy?
Better is not the best word, but a chapter 7 could wipe out the car debt and your other debt. If you just to the repo - they can still come after you for the 4500 dollar difference if they sell it for only 4k (most likely it will be sold for 2k or so) which would make the debt higher. Both will hurt your credit so if you are going to take the hit, I recommend you get rid of all of the debt and have some money to pay for things you need. Of course going bankrupt takes money too! Bankruptcy means that you will lose your home, as does repossession. The only way to stop either is to start repaying your debts and there are many financial solutions companies out there which could help. If you have mortgage arrears then speak to your mortgage lender ASAP, you may be able to come up with a repayment plan to repay your mortgage arrears along with your future mortgage payments. It is always important that you take action sooner rather than later so that your bankruptcy or repossession can be stopped.
I am divorced i have a quit claim deed on my ex's house she is going into foreclosure can the bank come after me?
If you didn't sign the mortgage then the bank can't come after you for payment in the case of a default. However, they can foreclose on the mortgage and take possession of the property notwithstanding the quitclaim deed to you.
How long do you have to wait to purchase a home after chapter 7 bankruptcy?
THERE ARE MANY LOAN COMPANIES, BANKS, MORTGAGE COMPANIES THAT WILL HELP YOU BUY A HOME, REGARDLESS OF YOUR CREDIT RATING. YOU WON'T GET THE BEST RATE BUT IF YOU HAVE A JOB WITH A STEADY PAYCHECK YOU CAN GET APPROVED FOR A MORTGAGE! GO ON LINE AND FIND A MORTGAGE CO. THAT ADVERTIZES "BANKRUPTCY ? NO PROBLEM!" BE PREPARED TO HAVE A GOOD DOWN-PAYMENT AND PROOF OF EMPLOYMENT, OR SOME SOURCE OF IN-COME. DON'T GO WITH THE FIRST CO. THAT SAY'S "OK", SHOP AROUND, IT'S A BUYER'S MARKET RIGHT NOW.
If two people own a home and are in the process of divorcing and one files bankruptcy on the house will the soon to be ex-spouse be effected?
You are a joint owner in the house, and presumably on the mortgage as well. The bank can come after you for the liability on the house.
How do you pay for your debts when you have less money come in and more going out in bills mortgage and credit cards?
remortgage, or find a 2nd income
When you declare bankruptcy in Michigan is your mortgage forgiven?
No. Filing bankruptcy can buy you extra time in your house though. Hopefully the law will change to allow judges to modify your loan terms in the future. If you are behind in your mortgage with no way to get out or get ahead then my advice is stop paying it and file bankruptcy. Then save your money as much as possible because you will need to find a nice rental. Bankruptcy protects you from creditors (mortgage company) from coming after you (wage garnishment,etc.). You need to talk to an actual bankruptcy lawyer. If you already can't afford your bills, DO NOT go destitute trying to pay the crooks back. YOU and your family come first! If you feel "duty-bound" to pay your bills when you don't have the money to pay them you may end up basically broke and homeless in the end. Save your money in a hole in the ground, not the bank. Good luck. It's not the end of the world. I am in tough times also (unemployed).
What strategies were adopted by Xerox to come out from bankruptcy and come to growth?
The Xerox Corporation never went into bankruptcy in the first place, so no strategies were needed to come out of it.
I am going into a bankruptcy in app 1 month the bank wants to reposses the car if I surrender the car before the bankruptcy is filed will it show up as a repo or go under the bankruptcy?
It will show up as both. If the bank auctions off the car, they may come after you for a deficiency judgment. Any chance of them coming after you would be taken care of in the bankruptcy.
If you default on your home mortgage can the mortgage company come after your car?
They can not directly come after your car. However a Judge can order assets seized. If there was no fraud involved in the mortgage this is an unlikely situation.
