Posts

Will my mortgage payments be reported on my credit report after bankruptcy? 

When you file Chapter 7 bankruptcy, you need to declare your intentions on your secured debt, which is essentially that you are going to give it back, or keep it. If you are going to keep it, most people just continue making the payments,…

Loan modification programs expire December 31, 2016

Unless Congress acts to extend this, which I would consider unlikely in light of improving economy and Congress’ general inability to get things done, the HAMP loan modification program will sunset December 31, 2016. This program helped…

Underwater House Becomes Cash Cow

I have to share an awesome story that I just heard from a former client of mine. When I first met them in October 2014, they were hoping to save their house. But it was worth $310,000, and they had a $394,000 adjustable-rate mortgage on it,…
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How long after a bankruptcy does it take to qualify for a mortgage?

The answer is “it depends”.  It depends on what type of mortgage you are seeking, which chapter of bankruptcy, and perhaps most importantly, it depends on what the underwriting requirements are at the time you are actually seeking a mortgage. …
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How to save your house with a chapter 13 bankruptcy

Part 3 in a series of how to save your house When a person who is behind on their mortgage payments calls me, I go through a hierarchy of questions: A. Do you want to save your house? B. Can you afford your mortgage payments? C. Have you tried…
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How to get a loan modification

It seems that every time I read the paper, there’s a new program to help homeowners, or a new lawsuit against mortgage companies that was settled, and they talk about how it helps, but there are never details on how to go about it. And few…

I am facing foreclosure. What should I do?

When a person is facing foreclosure, most of the time they have already tried to modify their loan, and were turned down. But if you have not done that, you should try -- I can virtually assure you that it will be a long and cumbersome and frustrating…