Sentences with phrase «mortgages by filing for bankruptcy»
Not exact matches
Common debts eliminated by filing for Chapter 7 bankruptcy include: credit cards, medical bills, personal loans and mortgage debts.
http://www.natlbankruptcy.com/
On the one hand, filing for chapter 13 bankruptcy can help you save a home from foreclosure by forcing your lender to take past due mortgage payments in small increments over a 3 - 5 year period rather than forcing you to pay back what you owe in a lump sum right away.
In case of a foreclosure, however, government regulations may prevent applicants from getting a mortgage ever again therefore, whether you should file for bankruptcy or not is a question better answered by a professional credit repair services firm.
McNeal, after filing for bankruptcy under a Chapter 7, reported that her mortgage was subject to two mortgage liens, $ 176,413 held by the primary lender and a second priority loan in the amount of $ 44,444.
And Aegis Mortgage, which is controlled by Cerberus, the private equity giant, filed for bankruptcy protection, last week.
In most cases, it is entirely possible to completely stop the foreclosure process on mortgages by filing for either Chapter 7 bankruptcy or a Chapter 13 Repayment Plan.
Allow home owners to shed excess mortgage debt by filing for bankruptcy, marking their home to market, securing replacement financing for new market amount under terms set by court, and treating the remaining amount as unsecured debt.