As you prepare to file a chapter 7 bankruptcy, you need to understand the basic ways in which the proceeding affects your assets and debts. For example, if you own real estate with a mortgage loan.
Landgraff, doing business as Integrity Mortgage Group, DZL. She is a custodian. Chapter 7 is a petition to liquidate assets and discharge debts. chapter 11 is a petition for protection from.
So, after the Chapter 7 discharge, the focus changes from entering into improper reaffirmation agreements to acts in violation of this discharge injunction. The discharge order makes clear that lenders cannot take any action to collect a debt as a personal obligation of the borrower.
Dear Bankruptcy Adviser, I filed a Chapter 7 bankruptcy that was discharged in 2009. I was paying my second mortgage loan to the bank for 4.
Mortgage after Chapter 7 Discharge. Asked by H_e_l_p, Lake Stevens, WA Thu Dec 3, 2009. I have a chapter 7 discharged July 2009, included was my house with 2 mortgages, 2nd mortgages states paid in full in MN.
7:03 PM EDT) — Bankrupt mortgage servicer Ditech Holding Corp. is facing a proposed class action accusing it of mishandling the accounts of bankrupt mortgage holdings and hitting them with bills for.
Bankruptcy (Chapter 7 or Chapter 11). the bankruptcy waiting period if the lender obtains the appropriate documentation to verify that the mortgage loan in question was discharged in the bankruptcy. Otherwise, the greater of the applicable bankruptcy or foreclosure waiting period must be.
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Many assume that after filing for a bankruptcy (chapter 7 or chapter 13) that you can not get a mortgage for at least 2-3 years after it is discharged. While this is the case with most banks and mortgage companies, there are some non-prime lenders that do not have these sort of waiting periods (also known as "seasoning requirements").
Filing for Chapter 7 bankruptcy is a means to discharge your debts and get a financial "fresh start." A home mortgage is a debt secured by property: the home in which you live. Filing for bankruptcy does not cancel your obligation to repay a loan if you remain in the home, nor does it end the bank’s lien on the home, in case you should default on the loan.
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