chapter 13: Foreclosure, Bankruptcy, Short Sales, Which one is right - 01/28/08 02:45 PM
With so many people losing their homes these days, I wanted to share some information about using to the bankruptcy system to help someone stay in their home instead of doing a short sale or a Foreclosure. 
Every situation is different. 
Since I work as a bankruptcy consultant/paralegal at a law firm, and I also am a Realtor I am finding that my knowledge in Foreclosure and Bankruptcy has come in play with my real estate business when I normally can keep the two separate.  But with all the foreclosures these days and mortgage issues,  I am finding myself making decisions … (26 comments)

chapter 13: SOMEONE PURCHASED A HOME WITHOUT ANY I.D. AT ALL - 01/28/08 01:55 PM
 (this is a re-post, was deleted in error)
This was interesting today.  I get a lot of people that come through the law firm I work at with the most unusual housing situations to see if they qualify for bankruptcy.
 Well, this couple bought a home together in 2005 and now cannot afford the mortgage.  (adjustable w/neg am).  OK, same with just about everybody that walks through my door. 
 I explained the bankruptcy process to them and told them that two of mandatory items that were needed are 2 forms of ID, one with picture (license, school ID, etc.) and one … (14 comments)

chapter 13: Losing Your Home, Filing Bankruptcy, Need to Move??? RENT BEFORE FILING BANKRUPTCY - 01/28/08 02:33 AM
 
 
If you are thinking about letting the home go through foreclosure and considering Bankruptcy as an option, and need to rent a home, then RENT before filing bankruptcy.  It is more difficult to rent a home after bankruptcy then to buy a home after bankruptcy.  My clients have experienced this first hand because they waited until after bankruptcy to rent a home and were unsuccessful. During the time you are in Bankruptcy, you cannot do any business until after discharge if filing a Chapter 7. 
 
 If you commented on this before, I am sorry but I deleted by … (33 comments)

chapter 13: Selling or Refinancing through Bankruptcy - 10/05/07 02:27 PM
 
Lately, I have been receiving calls from other agents and lenders regarding how bankruptcy can help a homeowner have more time to refinance or sell their home.  So I decided to share with the group.
 
Well, first if there is a foreclosure date already scheduled, you can buy more time by filing a Chapter 13 Bankruptcy – which can be dismissed by the debtor at any time. (You can change your mind).  With a Chapter 7 you cannot change your mind.  Once filed, you need to follow through. Once the “Automatic Stay” is in place, you can still refinance … (8 comments)