Your mortgage lender may attempt to take ownership of your mortgaged property and sell it to recover the amount you owe on the defaulted loan. A foreclosure may end up on your credit report and, in turn, affect your credit score. That's why it's vital to fight it....
Month: March 2024
3 ways personal bankruptcy can help to prevent foreclosure
People fall behind financially for a variety of different reasons. Unexpected medical issues could lead to a combination of major expenses and a sudden drop in income. The loss of a job, possibly because a business closes its doors, could create temporary financial...
How can a “cramdown” help people filing for bankruptcy?
Unlike Chapter 7 bankruptcy, in which much of a person’s debt can often be discharged, Chapter 13 requires a debt reorganization plan where a repayment schedule is worked out with the court. That doesn’t always mean, however, that creditors get everything that’s owed...