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  • Advice - Filing Chapter 7 with a mortgage that has a ballon mortgage

    I'm filing for Chapter 7, I'm thinking of giving up my home.
    The issue is I have a balloon mortgage on my home, is it worth it to keep it or not?

    Comps on the house is 85k
    Previously owe 71k
    19 year left on the mortgage
    Balloon payment 30k after 19 years
    2%...
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    Last edited by David2903; 05-09-2017, 11:10 AM.

  • Florida Chapter 7: Form 108 ("Redeming vs. Reaffirmation Agreement vs. other")

    I file for Chapter 7 bankruptcy at the end of May 2016 and is in the process of amending the forms for re-submission. A little background:

    Property owned:

    Single family house - Homestead (Mortgage balance ~ $23K, plus $20K deferred payment loan forgivable after 10-years; no...
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    Last edited by James33111; 06-24-2016, 07:47 AM. Reason: added tags

  • CaseyKnox
    started a topic Filing to save My Home!

    Filing to save My Home!

    I'm so ashamed that My life has came to this. đŸ˜¢


    Just received notice, that our home will be foreclosed on May 19th.

    Seems that Chapter 13 is the only option We have left. We're behind almost $8k.

    We also have medical bills, approximately $25k between...
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  • FACTORS AFFECTING THE TIMELINE OF A CHAPTER 7 BANKRUPTCY

    2 posts and both of them are full of clickable links and goo shortcuts. Perhaps you should read the rules before posting again and attempting to drum up business. Another post like this without permission from the administrators and you'll find yourself banned. - Frogger
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    Last edited by frogger; 09-23-2015, 10:31 AM.

  • Judge Questions USA Discounters’ Choice of Bankruptcy Venue

    September 15, 2015

    USA Discounters Ltd., a retailer that has been accused of scamming U.S. service members, is defending its decision to file for chapter 11 in Delaware despite having roots elsewhere.


    Judge Christopher Sontchi, a nine-year veteran of the bench in one of the...
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    Last edited by LadyInTheRed; 09-23-2015, 11:04 AM.

  • US top court says 2nd mortgages on 'underwater' homes cannot be voided in bankruptcy

    The U.S. Supreme Court on Monday handed a win to Bank of America by ruling that a second mortgage on an "underwater" home—one with a mortgage balance exceeding its current value—cannot by voided during bankruptcy.

    On a unanimous vote, the court ruled against two homeowners,...
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  • Successful mortgage right after discharge?

    I've got two months left in my 60 month chapter 13 plan and I'm really looking forward to buying a house. My mortgage guy thinks he can get a conventional loan since my income, job history, and credit score are pretty good. Has anyone here actually been able to get a non-fha loan right after discharge?...
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  • Homeowners Claim after Bankruptcy on a Ride thru Mortgage

    Ok so we filed Chapter 7 in 2009. We had a first and 2nd mortgages. Our house value is under water. We have continued paying our first and haven't made any payments on the 2nd in 5 years. We don't even hear from them any longer. Of course we realize they still hold interest in the property. ...
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  • tiger4life
    started a topic Questions about 2nd Mortgage after 7

    Questions about 2nd Mortgage after 7

    Ok I am sure this has been asked but I don't know if they had same scenario:

    Filed Chapter 7 in May 2010 and discharged in August of '10
    1st mortgage BoA and did not reaffirm / Balance $200,000 I am current , 2nd mortgage with ** and did not reaffirm / Balance $120,000 I am current...
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  • atrain55
    started a topic Should I receive a 1099s?

    Should I receive a 1099s?

    My previous and first post was about my condo that I had in AZ (thanks to those who helped!). I'll keep this short and sweet with bullet points to keep it concise.

    - Bought a condo in AZ for 127k in 02/2005 and lived there until 03/2006
    - Moved back to CA and rented it out a few...
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  • Wells Fargo HELOC Settlement Post Chapter 7

    After receiving so much helpful information from contributors to the BK Forums I wanted to share our recent experiences hoping they might help anyone in a similar position.

    I am married, living in Northern California. My wife and I filled Chapter 7 in August 2011 and received a Final...
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  • leichenb
    started a topic HELP!! Post Petition Equity in Assets

    HELP!! Post Petition Equity in Assets

    Help... I'm against the fence in a filing DUE end of day today!! (much litigation by ex-wife in my bankruptcy) and seeking any case history or relevant case law supporting the below position.

    Debtor filed Ch. 7 (no reaffirmation on home). Funds from post-petition income provided (per...
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  • All bills current at time of BK filing - how would FICO be affected?

    I have a home that is underwater approx. $100k. It may become necessary to do a short sale or walk away. At present, my credit FICO is 815, and I'm current on all payments. My income situation will be changing dramatically in approximately 4-5 months. I had actually planned to retire and sell the...
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  • rdmusc
    started a topic Post bankruptcy blues.....

    Post bankruptcy blues.....

    Not sure if this should be posted here but here goes. I, along with my soon to be ex-wife, were granted a joint Chap 7. We were separated in the middle of this. In Louisiana, which is a community property and no-fault divorce state, there is a 180 period from the time one party, in this case, her,...
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  • Timeline after BK Discharge on Foreclosure/Surrender

    Have a question:

    Just filed for Ch 7 (no asset), partly due to our condo being about $55k underwater (1st and 2nd liens), and in our filing paperwork we listed intent to surrender upon discharge.

    Now, the issue we run into is that we would prefer to squat for as long as...
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