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Guest
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 Posted: Mon Oct 26, 2009 7:50 pm Post subject: short sale |
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| will chapter 13 stop a short sale if a offer has been made to the bank? |
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 jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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| Posted: Mon Oct 26, 2009 10:09 pm Post subject: |
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Hi Guest,
Once you file bankruptcy, the court will issue an automatic stay and your creditors will not be able to sue you for your debts. Thus, the short sale would be stopped. Chapter 13 bankruptcy is all about reorganizing your debts. Your lender will give you a repayment plan to pay off the dues. This will in turn help you save the property.
Thanks |
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UMAR_MUGHAL76
Joined: 20 Oct 2009
Posts: 9
2.28 Dollars($)
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| Posted: Tue Oct 27, 2009 1:00 am Post subject: |
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hi
Regards
[System detected duplicate content, converted into image. Thanks.] |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7431
Location: bloomfield, ct
66.67 Dollars($)
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| Posted: Tue Oct 27, 2009 8:57 am Post subject: |
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defining a short sale provides no benefit whatsoever to the guest who asked about the effect of a chapter 13 filing on a short sale.
umar, if you are going to contribute to the forum, please ensure that what you have to say will provide a least an iota of benefit to someone.
_________________
George M. Akerley
Loan Consultant
860-221-5044 |
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