Stopping a foreclosure through Chapter 7 or 13 while addressing your whole financial picture can be much better than hurrying a home sale. The last few blog posts in this series has been about how filing bankruptcy can buy you a few more months or even several years, so you don’t have ... Read More »
Making Sense of Bankruptcy: Does Filing a Chapter 7 “Straight Bankruptcy” Stop a Home Foreclosure or is a Chapter 13 Needed?
A Chapter 7 case can stop a foreclosure just as well as a usually more complicated Chapter 13 one, but then what? The sentence that we’re explaining today, phrase by phrase, is the following: Filing Chapter 7 bankruptcy will stop a pending foreclosure sale and will buy you only a ... Read More »
How Bankruptcy Handles . . . Back Property Taxes on Your Home
Being behind on property taxes is usually a breach of your mortgage. Chapter 13 protects you from your mortgage lender so you can catch up. Property Tax Foreclosure Is Not Usually the More Pressing Concern If you have fallen a year behind on your property taxes, you likely have quite a bit of ... Read More »
More on the New Oregon Bankruptcy Ruling Forcing Mortgage Lenders to Accept Title to a Home to Stop the Homeowner’s Future HOA Liabilities
This new potentially very important court decision explained, along with its impact, including how that’s affected by the bank’s appeal. The Story So Far In our blog post a couple of days ago we explained the problem that homeowners have when they owe ongoing homeowner association dues and/or ... Read More »
Oregon Bankruptcy Judge Rules that Mortgage Lenders Can Be Compelled to Accept Title to a Home Being Surrendered by the Homeowner, Cutting Off the Homeowner’s Future HOA Liabilities
A Chapter 13 plan can make your lender take back your real estate, so you won’t keep owing the ongoing homeowners association fees. On October 14, 2014, an Oregon bankruptcy judge determined that if you want to surrender your home to your mortgage lender, under a Chapter 13 “adjustment of ... Read More »
Bankruptcy by Example: Stop a Foreclosure and Keep Your Home through Chapter 13
File a Chapter 13 case to stop a home foreclosure and then keep it permanently, or be able to sell it in a few years. What Are the Tools in the Chapter 13 Tool Chest? Chapter 13 “adjustment of debts” gives you so many tools by which to help you keep your home permanently. It can: give you up ... Read More »
Bankruptcy by Example: Stop a Foreclosure and Keep Your Home through Chapter 7
When could Chapter 7 “straight bankruptcy” stop a foreclosure, enabling you to keep your home without a more complicated Chapter 13 case? Do You Need a Chapter 13 Case? The three-to-five-year Chapter 13 option is often considered the best bankruptcy option if you want to keep a home under ... Read More »
Bankruptcy by Example: Buy Time to Move by Delaying the Foreclosure of Your Home
Even once you’ve decided you can’t or don’t want to stay in your home, Chapter 7 provides more time there to save money for your move. First, Know Your Options Before You Give Up Your Home Chapter 13 “adjustment of debts” gives you a number of amazingly strong tools for dealing with your ... Read More »
Saving Your Oregon Home from a Judicial Foreclosure through the Power of Chapter 13
Chapter 13 give you years to catch up on your mortgage, may allow you to not pay your 2nd mortgage, & handles tax & support liens very well. You can stop a foreclosure—including a “judicial” one—with a regular bankruptcy, but with this kind of foreclosure the timing is crucial. Our ... Read More »
Using Chapter 7 “Straight Bankruptcy” to Deal with a Judicial Foreclosure of Your Home
You can stop a foreclosure—including a “judicial” one—with a regular bankruptcy, but with this kind of foreclosure the timing is crucial. In our last blog post we described why in the last couple of years mortgage lenders in Oregon shifted from non-judicial to judicial foreclosures, and then we ... Read More »
