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Which of the following financing options will take the longest amount of time to pay off the mortgageA.Balloon mortgage with balloon payment paid in fullB.Balloon mortgage with balloon payment refinanced at lower rateC.30 year fixed mortgage D.7/1 ARM?
B. balloon mort with balloon payment refinanced at lower rate
Is a balloon payment calculator really a balloon?
A balloon payment calculator is not actually in the shape of a balloon. It is used to calculate a balloon payment; it is called a balloon payment because of its size.
The accounts that you discharged in bankruptcy should no longer show on your credit report after 1 year?
The accounts can remain up to seven years after the last payment was made, but will show a zero balance due to a bankruptcy filing.
Is it possible to get financing to purchase a house and a car after filing Chapter 7 bankruptcy for the second time?
You need your Bankruptcy Chapter 7 to be discharged first before getting a loan to buy a house. Most lenders require two to four years of re-established credit before they will consider making you a loan. However, many lending sources are competing today to make loans to borrowers with less-than-perfect credit even if you have had your Chpter 7 discharged less than two years ago. You may need to put down a sizable down payment,and have sufficient income to qualify howevevr. there are some mortgage lenders that will allow one day out of bankruptcy with 100% financing
If you filed bankruptcy signed a reaffirmation agreement but the court discharged that agreement and you're currently up to date on the car payment will they come and take the car or can you continue?
If you signed a reaffirmation agreement in bankruptcy, but the court discharged that agreement, the lender will come to take the car. This will occur even if you're currently up to date.
I filed bankruptcy under Chapter 13. Student loans were discharged under hardship. Do I still have to pay them?
Chapter 13 is "reorganization" plan for payment. Student loans were within the plan for payment? or were they discharged within another bankruptcy? normally student loans are not dischargable, (11 U.S.C. sec. 523(a)(8) bankruptcy:) there are two exceptions: 1: loans are not from any governmental agency unit or non profit 2: paying the loan will impose an undue hardship to dependents.
Balloon payment you have a balloon mortgage payment and you lost your job how can you get help?
I have a balloon mortgage payment and i lost my job how can i get help
Can a creditor file an adversarial claim in bankruptcy court in a personal 7 bankruptcy for something that they contend occurred during a business bankruptcy 2 years previous. No claim was filed then.?
No, a creditor is required to file a claim if seeking payment, otherwise that claim is considered waived. So in this case. if there was no claim, then it was waived and the debt discharged. But even if it was filed, it would have been discharged in the business BK.
If the mortgage was reaffirmed but on your credit report it appears as Bankruptcy is this an error?
Yes, a reaffirmed mortgage needs to reflect the mortgage payment history before, during and after the bankruptcy proceedings. "In Bankruptcy" needs to portray only DISCHARGED BY or INCLUDED IN...Bankruptcy. Contact your mortgage company so that all of your payment history shows on all three bureaus. No. Not if it were a part of the bankruptcy filing. It may or may not be marked included in bankruptcy or reaffirmed in bankrutpcy. It will still remain on the CR for the prescribed time.
What is DIP Payment?
DIP (Debtor-in-Possession) payment refers to financing provided to a company that is undergoing Chapter 11 bankruptcy proceedings, allowing it to continue operations while restructuring its debts. This financing is prioritized over existing debt, giving lenders a higher claim on the company's assets. DIP financing is crucial for maintaining business operations, paying employees, and managing ongoing expenses during the bankruptcy process. It helps stabilize the company and can facilitate a successful reorganization.
If you have been been discharged of All Debt without payment can a bank foreclose on your home?
If the home was part of the bankruptcy - possibly. It all depends on what the wording of the mortgage agreement may be.
What is a balloon payment?
A balloon payment is a large, lump sum payment made either at specific intervals, or more commonly, at the end of a long-term balloon loan
