Chapter 7– The most common type of bankruptcy isChapter 7. During a Chapter 7 bankruptcy, a court wipes away your obligation to pay back qualifying, unsecured debts. Think of this as credit cards, medical bills, or loans extended without collateral. Unfortunately, your credit report will also...
a Chapter 7 bankruptcy, or your circumstances may necessitate repaying certain debts in a Chapter 13 bankruptcy. If you have a 2nd mortgage, you may be able toerase a second mortgagethrough the Chapter 13 lien stripping process, thereby reducing your monthly total home loan payments. Bankruptcy...
Even selling or buying a home can be stressful without the assistance of someone skilled in real estate. I'm New York lawyerRobert A. Schwartz, and I can help you navigate those challenges in your life so you can move more easily toward a brighter future. ...
I am interested in buying a home where a bankruptcy has been filed that includes this home that is delinquent in payment. How do I find out how to buy the home and how long is it before the home goes into foreclosure? Categories
Chapter 13 bankruptcy is an alternative to chapter 7 that allows you to keep your assets. Get help restructuring your debt by contacting the firm. Read More Real Estate Closings There are potential legal complications to buying and selling a home. Allow a qualified attorney to provide you with...
Chapter 7 Bankruptcy The most common form of bankruptcy is Chapter 7. This is also often known as liquidation bankruptcy. Unable to pay off debts with money, the party must—with the help of a trustee—liquidate their non-exempt assets and divide the money to give to creditors. Much of th...
I am interested in buying a home where a bankruptcy has been filed that includes this home that is delinquent in payment. How do I find out how to buy the home and how long is it before the home goes into foreclosure? WiseGeek, in your inbox ...
A chapter 7 trustee sought to avoid a deed of trust lien on the grounds that it did not comply with statutory requirements. Specifically, the deed of trust did not identify the correct face amount of the loan. The bank responded that the stated amount was sufficient, and in any event the...
In a Chapter 7 bankruptcy, the trustee uses the liquidated assets to pay off as much of your debt as possible, after which the rest of your debt is discharged.1 Chapter 13, sometimes called a wage earner's plan, allows you to keep more of your assets, including saving your home from...
First, it’s an opportunity to build some savings. You can establish anemergency fundand work on setting aside some money toward adown paymentonce you’re ready to try buying a home again. Next, having a steady income can make you appear less risky in the eyes of lenders once you do ...