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"short sale"

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Elizabeth Guest	Posted: Thu Apr 21, 2011 6:18 pm    Post subject: Mortgage interest during Chapter 13 Like 0 Dislike 0 Is interest accrued or paid during the Chapter 13 repayment period
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Fri Apr 22, 2011 12:01 am    Post subject: Like 0 Dislike 0 Welcome Elizabeth, In case of Chapter 13, the lender along with the bankruptcy trustee will give you a payment plan to pay off the loan. This will include the interest as well as the principle amount. _________________ Procrastination is the enemy of your financial success
Mika Guest	Posted: Thu Apr 28, 2011 5:42 pm    Post subject: Short sale vs. BK 13 Like 0 Dislike 0 I don't understand how the the chptr 13 BK works, exactly... So do you have 2 different mortgage payments your actually responsible to pay each month, one with the bank and the other for the Bankruptcy agreement?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Thu Apr 28, 2011 10:43 pm    Post subject: Like 0 Dislike 0 Hi Mika! Welcome to forums! In Chapter 13 bankruptcy, you will receive a payment plan from your creditors depending upon your financial situation. You will have to make the payments as per the plan. To know more on Chapter 13, check out the given page: http://www.mortgagefit.com/bankruptcy/chapter13.html Feel free to ask if you've further queries. Sussane
jumbohome07 Joined: 14 Apr 2011 Posts: 5 Location: London 1.65 Dollars($)	Posted: Mon May 09, 2011 3:08 am    Post subject: Re: "short sale" Like 0 Dislike 0 Well, short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan. _________________
Cypress Guest	Posted: Sat Sep 17, 2011 6:11 pm    Post subject: Short Sale Possible? Like 0 Dislike 0 I filed Chapter 13 last year and have been paying my 2nd Mortgage through the plan. The idea was I would pay for 5 years and have the second mortgage stripped. My husband has recently received a job promotion which would have us move from FL or IL. I know my house will not sell for what we owe on the 1st Mortgage and we can't afford to maintain two homes. I'm kind of loss on what to do. Any ideas??
jameshogg Joined: 20 Dec 2005 Posts: 10460 Location: Nevada 987.57 Dollars($)	Posted: Sun Sep 18, 2011 11:38 pm    Post subject: Like 0 Dislike 0 Hi Cypress, You can contact your lender and your bankruptcy attorney and apply for a short sale mentioning your present situation. It will depend upon the lender whether or not he will consider your request. Thanks

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