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Mortgage

Mortgage Debt Options

Getting behind on your house payments can happen to the best of us.  Whether job loss, medical costs, or other life stressors have led you down a road to mortgage debt; there are solutions that can resolve your problems with mortgage debt. Foreclosure Or Bankruptcy? There are two general types of foreclosures — judicial and […]

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Mortgage

Foreclosure and Bankruptcy

For most people, a mortgage is their most expensive asset and largest debt. If the debt owed on your home becomes too high of a financial burden to bear, you have a short window to seek help for your missed payments before losing the home. Foreclosures 101 Foreclosure is a legal process by which mortgage […]

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Mortgage

Bankruptcy Stops Foreclosure

If you are behind in your mortgage payments and worry you may lose your house to your lenders, you may want to consider filing bankruptcy. Bankruptcy can stop the foreclosure process by implementing the automatic stay, which stops most collection attempts against you. Filing bankruptcy will not stop the foreclosure process forever, and it will […]

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Mortgage

Top 4 California Foreclosure Mistakes to Avoid

Insolvent consumers who are not able to stay current with their mortgage payments may face foreclosure proceedings from their mortgage lender. Due to the number of California foreclosure avoidance measures available to you, avoiding these mistakes will help steer you in the right direction toward defense against foreclosure. Waiting too Long to Take Action Waiting […]

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Mortgage

Vacation Homes in Chapter 7 Bankruptcy

We’ve discussed what happens to your primary residence when filing for bankruptcy protection, but what happens to vacation homes in Chapter 7 bankruptcy? Chapter 7 bankruptcy protection can, in many cases, save your primary residence assuming you are able to exempt the equity in the home, or if the amount of equity you have is […]

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Mortgage

Understanding Second Mortgage in Bankruptcy

Understanding second mortgage in bankruptcy

Some homes have depreciated in the recent times. You might consider getting your second mortgage in bankruptcy discharged under chapter 13. The elimination of the second mortgage is carried out by a process termed as lien stripping. Understanding second mortgage in bankruptcy can shed some light on the process of debt relief with secured debts. Understanding […]

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Mortgage

Bankruptcy Effects on Mortgages

bankruptcy effects on mortgages

In case you file for bankruptcy while you have an active mortgage loan, there are many different ways in which it can play out. Depending on your lender, you can reaffirm the loan or you might be eligible for a loan modification. Some lenders will continue to accept payments, while others might simply stop taking […]