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What else can I help you with?
How can I stop foreclosure proceedings on my home?
There are two ways to stop foreclosure proceedings. Come to an agreement with the bank and make a substantial payment. For many this is not an option, so the only other resort is filing Chapter 11 bankruptcy.
Where does the down payment go - to the seller or the bank?
The down payment goes to the seller when you buy a house.
How much of a down payment would be required for a house costing 150000?
You don't ever have to put a down payment down (unless your lender bank requires you to), however 20% of the value usually is the norm. We bought our house with NO down payment.
What is an irrevocable bank payment undertaking and what are its benefits to the seller?
And your revocable bank payment is a bank payment that cannot be rescinded. The advantage to the seller is once the payment is issued, it cannot be canceled.
What is a down payment on a house?
Most people borrow money from a bank when they want to buy a house, but they usually do not borrow 100% of the cost of the house. They usually do have some money to apply toward the cost of the house, and that amount is called a down payment. So to buy a house costing $200,000 a person might make a down payment of $50,000 and then borrow the remaining $150,000.
How can I stop foreclosure proceedings on my home?
There are two ways to stop foreclosure proceedings. Come to an agreement with the bank and make a substantial payment. For many this is not an option, so the only other resort is filing Chapter 11 bankruptcy.
Can a bank go into your checking account and take out my house payment?
If you have authorized your bank to do so by arranging a scheduled payment, then the money will be drawn out and applied towards your mortgage payment. However, if you did not authorize a payment beforehand then a bank will not take money out for the payment.
Where does the down payment go - to the seller or the bank?
The down payment goes to the seller when you buy a house.
Can a bank decrease unused portion of existing home equity line of credit after filing for chapter 7 bankruptcy?
if you want it to
How do you surrender a house to the bank for chapter 7. No bank will cooperate.?
The ONLY "bank" you can/should speak to is the one that has the mortgage (no one else would be interested or can do anything other than buy the house - and they probably have more than they want)...that is the one you pay (or aren't) to. They'll want to talk with you....tell them your probably filing BK and interested in doing a "friendly" foreclosure to do the right thing for everybody involved.
Can you keep your boat after filing chapter 13?
Only if you use it for legitimate way to get to work if is strictly for fun the bank can and will repo it trust me I know from experience
I heard Bank of America is lowering current home loans is that true Need help making my payment since I am unemployed ?
Is there monies to help make house payment, I am unemployed and applying for disability cannot make house payment
How much of a down payment would be required for a house costing 150000?
You don't ever have to put a down payment down (unless your lender bank requires you to), however 20% of the value usually is the norm. We bought our house with NO down payment.
When filing for bankruptcy and owing to a line of credit does the bank still keep the house even if this one is protected with a homestead insurance?
Generally speaking, when Chapter 7 bankruptcy is declared, it means a person's debt exceeds their assets. If the amount of debt owed to a mortgage bank for a home, the bank has no interest in taking a home which will not cover the mortgage debt. All debts are wiped away.
We filed chapter 7 bankruptcy. When can the bank take the house?
When you either voluntarily give up the house or you stop making payments (foreclosure).
What is an irrevocable bank payment undertaking and what are its benefits to the seller?
And your revocable bank payment is a bank payment that cannot be rescinded. The advantage to the seller is once the payment is issued, it cannot be canceled.
CAN I QUALIFAY FOR A HOUSE LOAN IF I HAD CHAPTER 13?
Yes it is possible to qualify for a mortgage despite a Chapter 13 bankruptcy filing. In a Chapter 13 filing the debtor agrees to a court structured debt repayment schedule. Typically, after making payments on time to creditors as required by the bankruptcy agreement an individual can be discharged by the Court from the Chapter 13 proceeding. Once discharged from bankruptcy an individual can apply for a mortgage. Each bank has different rules about how soon someone can apply for a mortgage after a bankruptcy. Most people coming out of bankruptcy apply for an FHA mortgage loan since this program has the most lenient underwriting standards.
