Consumers are able to get caught up on delinquent mortgage payments and eliminate their junior mortgages upon the completion of their Chapter 11 plan. (doanlaw.net)
Additionally, it's important to note that FHA Cash - Out Refinance loans are strictly for owner - occupied properties and are not granted in cases of delinquent mortgage payment histories. (crosscountrymortgage.com)
Payment Plan: An agreement with a lender in which a borrower promises to make up any missed payments by sending one full payment and one partial payment each month until delinquent mortgage payments are caught up. (chattelmortgage.net)