For over 30 years, Bob Schuman has facilitated the financial goals and dreams of families looking to finance a home, whether you have perfect credit or a recent or current bankruptcy. With 50+ lenders at our disposal, we can help you — no matter if you have poor credit or perfect credit...
If you have a second or third mortgage on your property and you owe more on your first loan than the home is worth, you may be able to lien strip, or eliminate the junior loans by filing for Chapter 13. However, each state differs regarding whether it allows lien stripping if the prop...
so if the debtor fails to make payments as agreed, the creditor can take the property. For example, failure to make payments on a mortgage or car loan results in the foreclosure of the home or repossession of the vehicle. In contrast, unsecured debts, such as credit cards and personal lo...
Lenders will need to see proof that you are capable of repaying your debts before you can hope to get a home loan approval. After organizing your finances, the next step is to startrebuilding your credit. A secured credit card is backed by a savings account that serves as collateral for ...
There are no restrictions on the type of car you buy, except that you have to be able to afford it! Affordability depends on your payment-to-income and debt-to-income ratios, which are what lenders look at when evaluating your application. ...
During reorganization, the liabilities of a company are restructured so that the business is capable of meeting its financial obligations on a going-forward basis. Lenders to a company undergoing reorganization may receive partial repayment of their existing loans, new loans with new terms, or other...
The bankruptcy trustee will take back all preference payments you made within a year, provided the payments were made to a close business partner or loved one, and distribute them among your lenders. If the associates or relatives cannot provide the funds you paid them, the trustee could press...
If you want toqualify for a mortgage, you’ll have to prove to lenders that you can be trusted to repay your debts. After a bankruptcy, your credit options may be fairly limited. Two ways you can start rebuilding your credit are secured credit cards and installment loans. ...
If you're trying to decidewhether you should file for bankruptcy, your credit is probably already damaged. But it's worth noting that a Chapter 7 filing will stay on yourcredit reportfor 10 years, while a Chapter 13 will remain there for seven. Any creditors or lenders you apply to for...
The author reports that regulators ordered Mortgage Lenders Network USA Inc. to close its loan-origination business in nine states. The company makes home loans to people with poor credit. Mortgage Lenders is one of at lease five subprime lenders to close down due to a slowing housing market ...