Posted on: 24th Mar, 2009 06:42 pm
my ex stopped paying child support and alimony in july 2008. i have my first and second mortgage with hfc. the home has been on the market since july 2008, when my child support and alimony decreased my monthly income by 2k. i have 30 days to sell the home or the second mortgage will be charged off. i am raising three kids on my own, one in college. i am living pay check to pay check and i am considering bankruptcy. i don't know what to do.
Hi Suzanne,
If your mortgage is charged off, a third party collection agency will collect the dues from you. I would suggest you to contact the lender and inform him about your hardship. You can apply for a loan modification in this case. This would be better than filing a bankruptcy.
Thanks
If your mortgage is charged off, a third party collection agency will collect the dues from you. I would suggest you to contact the lender and inform him about your hardship. You can apply for a loan modification in this case. This would be better than filing a bankruptcy.
Thanks
if mt home mortgage is included in chapter 7 bankruptcy do istill make payments. or does the house swll at auction.
Hi
Inclusion of home mortgage into the chapter 7 bankruptcy does not remove liens from the property nor does it protect your property from going into foreclosure. If you want to keep your house, you need to reaffirm your mortgage with the lender whereby you express your intention to pay off the mortgage to keep the house.
Thanks,
Jerry
Inclusion of home mortgage into the chapter 7 bankruptcy does not remove liens from the property nor does it protect your property from going into foreclosure. If you want to keep your house, you need to reaffirm your mortgage with the lender whereby you express your intention to pay off the mortgage to keep the house.
Thanks,
Jerry