Adjusting your mortgage and other home-related debts under Chapter 13 can often give your home the very best fresh start. Our last two blog posts have been about two options for when you need help making mortgage payments: a mortgage modification and a forbearance agreement. In a nutshell, a ... Read More »
A Fresh Start with a Forbearance Agreement
Whether you’re about to fall behind on your mortgage or have already done so, a forbearance agreement avoids foreclosure while you catch up. Quick Definition A forbearance agreement gives you short-term relief to deal with a temporary period of financial hardship. Your mortgage lender agrees, ... Read More »
A Fresh Start with a Mortgage Modification
Mortgage modification may reduce your monthly payments but not likely reduce your balance owed. So it costs less short-term, not long-term. Quick Definition A mortgage modification is a permanent restructuring of one or more of the terms of the mortgage intended to make it more affordable on a ... Read More »
A Fresh Start on Your Home If You’re Behind on Your Mortgage
If you are behind on your home mortgage & want to keep your home, do a mortgage modification, a forbearance agreement, or a Chapter 13 plan. The Three Options Here’s a summary of 3 ways to get a fresh start on your mortgage: A mortgage modification is a permanent restructuring of ... Read More »
Making Sense of Bankruptcy: Choosing between Chapter 7 and Chapter 13 to Save Your Home
If you’re behind on your home mortgage, when would a Chapter 7 regular bankruptcy be enough vs. needing the benefits of a Chapter 13 plan? Here’s the sentence that we’re explaining in today’s blog post: If your home is threatened by foreclosure, Chapter 7 usually buys ... Read More »
