In my opinion, this is a bad idea. If you are able to make your mortgage payments, do so. I recently spoke with a person who quit making mortgage payments so that his mortgage company would consider him for a loan modification. They filled out all the papers as requested by the bank for the […]
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The answer to “when will the house be foreclosed on in Georgia” is that it depends on your mortgage company. Some companies move really fast. Other take up a year before they get around to finally conducting the foreclosure sale in Georgia. Here is what the mortgage company must do in Georgia to foreclose on
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If you have fallen behind on your mortgage payments, Chapter 13 can save your house. Here is how it works. We take all of the past due mortgage payments and put them into your Chapter 13 plan. Most Chapter 13 plans run for three to five years. If we need to, we can wipe out
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The answer to this question is maybe. If you have a foreclosure scheduled against you, you should file Chapter 13 to stop the foreclosure and save your home. I have had so many clients where someone from the mortgage company called and told the homeowner that they would try to work something out to stop
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If someone tells you to pay them money so that they can “renegotiate your loan,” don’t do it! There are so many scams. Take advantage of a free consultation with an attorney and let a bankruptcy attorney review any offers you are considering. If you want a loan modification, you can speak to your mortgage
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Yes. If you file Chapter 13 and are able to continue to make regular monthly mortgage payments, your house cannot be foreclosed on while you are in Chapter 13. The important question is, “Can you afford your future payments?” If so, Chapter 13 is a great option for you. Any past due payments on your
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If you have a first and a second mortgage, you may need to consider bankruptcy even if you are willing to let the house get foreclosed. For more information on second mortgage issues, please see click here. If you have only one mortgage and you don’t have any other debt issues, you probably don’t need
Bankruptcy – Should I File If I am Letting the House Go? Read More »
Yes. While a second mortgage holder may have the power to foreclose, they almost never take this course of action unless there is a significant amount of equity in the home. In order for a second mortgage holder to foreclose on your house in Georgia, they must first pay off the first mortgage holder. Most
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