We are meeting with our attorney next week and I want to be prepared. Here's the situation:
Own and Operate LLC Partnership (profitable)
Income 200K/yr.
Unsecured credit: 82K
Taxes for this year: 40K
Secured credit: 40K (two cars, dirtbike, piano)...
69 results in 0.0033 seconds.
-
Surrender Underwater Mortgage in a 13?
Last edited by lolie; 02-24-2010, 11:02 AM. -
Legality of Government CAIVRS after Discharge
I had a discharge chapter 7 in 2004 but my wife did not file and remained liable FHA mortgage. Payments continued until 2008 when she became sick and no-longer could work. She filed in 2008 and also recieved chapter 7 discharge.
When the payments stopped due to her issues, the FHA reported... -
Judge Erases $525G Mortgage for N.Y. Couple, Citing 'Repulsive' Acts by Bank
Thursday, November 26, 2009
A Long Island couple is home free after an outraged judge gave them an amazing Thanksgiving present — canceling their debt to ruthless bankers trying to toss them out on the street. Suffolk Judge Jeffrey Spinner wiped out $525,000 in mortgage payments...Last edited by Flamingo; 11-28-2009, 08:16 PM. Reason: To conform with forum posting rules - OP PLEASE TAKE NOTE -
Re-affirmation of Mortgage with Citimortgage Inc.
I want to re-affirm my 1st mortgage. I filed Chapt 7 on 11/6 in Richmond, VA. The mortgage loan is in my name and my ex husbands name. I am the only one filing bankruptcy. I have had no contact with him in over 2 years. The house was signed over to me in the divorce property settlement agreement.... -
Should I stop paying mortgage for a month or two?
Hello,
My wife & I are in the process of filing Chapter 13. Our lawyer is working on the paperwork (we've already given him the financials, etc.), and I figure it will be ready to file within a couple of weeks.
My big concern is having enough money to 'convert' our... -
2nd on Prop Bought as Primary, then Converted to Rental
Hi,
I'm new to the forum. If I bought my home as my primary residence, then got a 2nd mtg HELOC, then converted it to a rental, and I owe 88k on 1st and 60k on 2nd and it's worth $130k, can I cram down the 2nd because it's an investment property now? Or what are my options? Thanks! -
Who's on the hook?
I was divorced a year ago and she got the house with all the debt attached. She was also "awarded" custody of her and her son's vehicles. She was ordered to get these and many other things refinanced to "hold me harmless".
Well she hasn't and creditors are contacting... -
Transfered House Before Filing
About 5 years ago, my sister and her husband were buying a house but my brother-in-law's credit was bad and mine was good so I co-signed with my sister. My name was on the mortgage and the title. I never paid or received any money for this, never lived there, and never claimed it on any taxes - I... -
Mortgage Lien Avoidance by Trustee?
Hi all,
My case was filed last week (with attorney), but I continue to learn new things about this process everyday. I've recently uncovered the phenomenon of "lien avoidance" in a Ch. 7 if a lien wasn't properly perfected. In the case of a mortgage, that means properly recorded... -
Chapt 7 after acquiring modification
Hi,
I'm new to BKFORUM and need advice. I just got a modification from BofA last month and will begin making my new payment. I also need to file Chapt. 7, but I'm afraid BofA will rescind the modification. Since I'm going to file for a BK, will the bank stop taking my mortgage payment... -
Can I set the terms of a Reaffirmation?
My 2nd mortgage sent me the paperwork for a reaffirmation. The original loan terms were 17,000 at 16%, in the reaffirmaton papers the new terms are $19,800 at 15%. I've been paying on this loan for over 3 years, sometime in the last 6 months we fell 2 months behind, but kept it floating, just unable... -
Refi / Modification after BK
I looked through this section of the forum and didn't find the answer to my question... but I apologize if this subject has been beaten to death already!
We bought our house from a builder, through their in-house lender, in Oct. 2006. They were trying to close as many sales as possible... -
Mortgage Help: Do You Qualify?
March 4, 2009
President Obama's eagerly anticipated foreclosure prevention program went into effect on Wednesday. It targets 9 million borrowers for help - are you one of them?
The $75 billion effort, dubbed the Homeowner Affordability and Stability Plan, boils down to two... -
Possible lower than 100% with Equity in House
My attorney told me my plan is 100 percent over five years because I want to keep my home and other property.
He did however say he will go to bat for me to get me a lower percentage to my unsecured of $50k.
I have about $75 k in a second home out of state.
... -
ARM Resetting Soon LIBOR Index
OK I am sure someone can help me and explain to me in layman terms how to understand my 36 month ARM that will readjust on 5/1/09. I read through my loan documents to review the caps, ceiling rates, etc.
Type of Loan:
36 ARM, Fixed at 7.125%
First adjustment - 5/1/09...