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  • Selling a house during chapter 13 - Florida

    Hello. What happens if we sell out house in Florida? We currently have over $200k equity in the house based on current market prices. The total amount is currently exempt in FL. But once we sell it (if), will the proceeds of the sale be no longer exempted, and the trustee will require to pay 100% of...
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  • Mortgage Co Refuses to Issue a Verification of Mortgage

    Hi. I filed BK7, discharged in 2012. Did not reaffirm my 2 mortgages, both were with Bank of America, then they sold the 2nd mortgage last year to Select Portfolio Services.

    I'm now refinancing. Bank of America gave a Verification of Mortgage to the new loan processor but Select Portfolio...
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  • Sln
    started a topic Home sale and purchase

    Home sale and purchase

    I have been in chapter 13 for almost 3 years. I sold my home and bought a new one, pending approval from trustee. My attorney assured me both would be approved. trustee approved sale but objected to purchase and wants more proof I can afford it. Has anyone successfully purchased a home while in chapter...
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  • Chapter 7, Texas, Trustee Report of Distribution, Title Company says "No"

    1 week away from closing. Title company won't move forward. House is already sold and buyer waiting. New house already signed on but 10% down comes from the proceeds (gift) of the sell of this existing home (my parents) who had to file chapter 7 but house is homestead and we have the Report of No...
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  • Strategic Default - BK planning

    Thank you for your time,

    In 2013 My wife and I separated but didn’t divorce so I could stay on her insurance. We both each purchased a home, her in Riverside county and me in Los Angeles county. We got back together about 2 years later 2015, I moved in with her and converted mine into...
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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
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    Last edited by David2903; 05-09-2017, 08:10 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, 04:47 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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    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, 07:31 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, 08:04 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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