Anyway, any advice would be greatly appreciated. Both the after bankruptcy waiting period; and the after foreclosure waiting period. Our home is worth $170K i flied chapter 7 bankruptcy my 2nd mortgage was inclucded do i have to pay it today if we are lucky. Once that’s done, you might want to move to a smaller place anyway. OK, so we had to file Chapter 7 because this wretched job/housing market pushed us out of the dream home we built.

We are still paying on our first after a Modification. Used car listings powered by auto used 4x4 for sale on ebay trader multi photos, l reg fiat. I’ve heard before that the banks can and have sold homes, then padlocked the homes i flied chapter 7 bankruptcy my 2nd mortgage was inclucded do i have to pay it with police or court orders preventing the owners from entering to retrieve belongings. I am current on my first but I have fallen back on my second.

BofA has since sent me a trial payment plan pkg. We owe 25000 on the first or so more than what the house would sell for. Is BK chapter & my best route or should I rent out my home and live to fight another day on the second.

Based on figures quoted above, and the just-don’t pay 2nd strategy I can’t see why Green Tree would foreclose – nothing for them to gain. In 2010 we filed ch 7, did not include the home. What are your thoughts on attempting to get an loan mod again with Chase.

So you can file bankruptcy and still pay the first mortgage. Yes, the 2nd and 3rd will keep adding up the late fees. They did not want to work with us at all unless we paid them a larger amount, then they would consider sending us an application for a modification. I don’t know the verbage to use on this.

Take over a lease of used bmw, mercedes, ford organized by vehicle type such. I am currently in a house with both a 1st and 2nd that were not affirmed. You are right about that–but I’m not sure that’s the right question. We are current and able to pay the 1st mortgage but have been struggling to pay the 2nd mortgage.

If you don’t pay the first mortgage, they will start to foreclose. Learn more about refinancing your mortgage, refinance view interest rates, and use our. My 1st and 2nd mortgage was discharged and did not reaffirm.

So it is bad that you have good schools–it means the bank thinks they can sell your house easily if they foreclose you. I am currently paying the 1st mortgage and not paying on the 2nd due to no equity available in the home. I would really like to settle this matter as it is causing me great stress, however, I have read on another site not to make the first move in terms of a settlement offer or I will end up paying much more.

You need to talk to a good bankruptcy lawyer in your area–and carefully look at the bills and the shortsale papers. May elizabethwarren com is the official website of elizabeth warren s campaign for. So its hard to say how much the risk is. Once the loan modification is approved, the motion to approve loan modification in california lender may then have its counsel file.

Even that I am not in your area, PLEASE help me. Can the home loan be modified or refinanced without me being tied to it again. We got a call about offering a settlement. Your comment shows you’ve been following the discussion here closely.

They sent standard letter requesting $29k or they would accelerate foreclosure. It sounds like your house is too small for the size family you have now. The lawyer she used in Indianapolis is NOT a member of NACBA–the National Association of Consumer Bankruptcy Attorneys. Can you tell me what the difference between a streamline refinance or refinance and a modification is. Not paying the second mortgage won’t i flied chapter 7 bankruptcy my 2nd mortgage was inclucded do i have to pay it hurt your credit at all. I’ve explained as best I can here that not paying for a couple years is the best course.

Thanks for the information, its greatly appreciated. And looking back (which is always easier), if you had stopped paying Wells in 2008, you could have bought a new home last year for $160K and be building equity today. We would like to stay in the home and continue to pay the first mortage with the refi at a lower rate but the 2nd mortage refuses to give a release of lien.

The second mortgage can sell your house to a new homeowner only if they pay off the first mortgage. Its been 4 months and I was waiting to hear from them. I’ve experienced almost annual roof leaks from rains and the ceiling is noticably stained.

The second sued me and we eventually worked out a payment plan. But I am getting older and sick and really can’t keep on working the way I have been. We are considering letting the first bank foreclose on the home, but if that happens, there will obviously be no money left to apply to the second mortgage. We also have a 2nd (HELOC) but the house is underwater so we will not pay it and wait a year or so to negotiate. I have a 1st and a 2nd mortgage and am behind on both since I decided not to file on my house. Apr is our best rate available when recommended auto loans applying online for an rbfcu.

I have a first and second on a home which is under valued a little. The lender & realtor are suggesting that I walk away from the home, wait for BOA to actually foreclose,then wait an additional 3 years to try & buy again. If, BOA would be sending any sort of funds as apart of the settlement or reducing the loan amount it would be worth it to stay. From what I can tell is, the worst case scenario is we get renters who didn’t pay, so we couldn’t afford to pay on this mortgage and they foreclose, but perhaps the best case scenario might be that we continue to pay on this mortgage and in 25-30 years we own 2 houses. I would imagine, at some point, the foreclosure proceedings would start but, if we sell before the actual foreclosure, then it won’t be on our credit report which means we’d be able to get a mortgage for the next home. You laid out a lot of detail–which shows how hard it is to give you complete advice.

The balance of our 1st mortgage is around $157,000 and Zestimate estimates our home selling price at $190,000, which is a surprising increase than a few months ago when the price was estimated very close to amount owed. Since there hasn’t been a foreclosure yes, that waiting period hasn’t even started yet. We are not sure what is to be accomplished with the 2nd if we haven’t even started talking with our 1st mortgage yet.

I am in Michigan and have 6 months right of redemtion. If I walk away from the home am I still responsible to pay off that loan or can I do what you’ve told other to not pay. The first mortgage is probably $10-20K more than what the home is worth i flied chapter 7 bankruptcy my 2nd mortgage was inclucded do i have to pay it so with the 1st and 2nd together we are $60 – 70K under water. They asked what I had in mind – I told them to make me an offer.

Greentree is not hitting your credit, but they could still sue you if you picked up and moved out. I owe 260k on the first and about 66k on the second. The second remains as a lien on the title to your house. We filed bankruptcy back 3 years ago and never reaffirmed the 2nd mortgage, only the first because we want to keep the house. Even when both are with the same company; even when they aren’t.

HI, I have a Question about if after chapter 7 bk, In which the home loan was discharged. Is there anything I can do to sell or just walk away. My husband and I are torn on what to do with our second mortgage. I have only seen one actual attempt to foreclose from an underwater second mortgage here in Northern Virginia. The problem is the shortsale or foreclosure i flied chapter 7 bankruptcy my 2nd mortgage was inclucded do i have to pay it are both still in the future.

Bankruptcy is the legal way to get out of debts you can’t afford to pay. Maybe if you apply for a modification rather than a refinance, you might get a different answer. It depends on a lot of things–how much is the house worth compared to how much you owe.

But I don’t know much about real estate values or foreclosure procedures in Georgia. And yes you can tell the first mortgage to stop calling…it’s borderline, but they may be violating the bankruptcy law now. We have gotten 3 or 4 new CC since the BK and they are all perfect history, almost 2 years now. I think they would let you go for quite some time without foreclosing if you pay the first but not the second. I have fantastic rates on all 3 loans, like under 4% i flied chapter 7 bankruptcy my 2nd mortgage was inclucded do i have to pay it on all, which prompted us to try to keep the house. Now is a good time to see if they are open to an offer.

So I’m not sure…I think you should contact them and ask if you cna apply for a mod and see what that gets you…other than that, I don’t know enough about your local situation to help much. We have never made a late payment on either. They also advised me that they do not negotiate with 2nds, they want to be paid in full. And is there a way to call them and offer a percentage of what I owe to get them to settle.

He just tells me when I need to send him money. I know less than you do about how long it takes to foreclose in Connecticut, but I agree it’s time to stop paying the first a second. Payday loan loan cash advance and cash advance online payday loan online lesbian payday. That’s what I say about needing nerves of steel. In your case, where there’s clearly no equity, don’t pay the second for a couple years.

If there’s nothing for the second mortgage to get if i flied chapter 7 bankruptcy my 2nd mortgage was inclucded do i have to pay it the house is sold, then they are not going to sell it. It’s impossible for me to guess at this distance not knowing your state law which you should do. They want us to fill out forms to see if we qualify to make a settlement offer. One hour payday loans to payday loans uk poor bad credit. Today we received from FedEx a letter stating that our heloc was forgiven. Yep, you can pay or not pay–they can foreclose or not foreclose.

Of course it may be smarter to give up the first, too. A national boat auctions resource of bank repo boats for sale u s. Tamela, you do not “file bankruptcy on” anything. I don’t think you want to be too eager. Is there a difference in checking one or the other, and what would that be.we did not sendender nor reaffirm,does that still mean we did bankrupt on our home.

What perhaps is a better plan is to wait the two years till the stigma from the orginial f/c and b/k (on an investments property) are up and I can buy a house in a better schoool district. I THINK that both waiting periods apply to you.

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It’s a shortsale because the SBA has to agree; the bankruptcy ended your personal liability on that loan, but it is still attached to the house.
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What is your opinion on that and will also like a referral i flied chapter 7 bankruptcy my 2nd mortgage was inclucded do i have to pay it for BK lawyer in MD if you don’t mine.

I suspect most of your readers and clients, if not all, paid bills on time and intended to pay debts in its entirety until faced with circumstances that led to filing bankruptcy. So you don’t want to move out until the lender kicks you out–but you obviously need a place lined up. Both my husband and I filed chapter 7, but only his name was on the mortgage. Do you think they will foreclose on my if I do not pay my second. Im current on my first and second mortgages, i flied chapter 7 bankruptcy my 2nd mortgage was inclucded do i have to pay it and I m trying to refinance. I would like to stop paying the 2nd mortgage as suggested in previous comments posted for a year or two. They have no leverage on you if you just stop paying on the first and move out when the first finally gets around to foreclosing.

The public schools aren’t accredited; therefore, I’ve been considering moving to a different area and renting where there are AAA rated schools.

I live in Illinois I filed B/k about 3 years ago I did not reaffirm with my second mortgage or first. And if you had stopped paying three years ago, you could have had some money saved. Before you negotiate with them, let them have a couple of years experience of getting nothing. I plan to keep the property and settle on the 2nd couples years down the road.

You are required to list the second lien on your bankruptcy schedule and I assume you probably did.

Sometimes the second mortgage will get forgiven. A different question maybe you were asking. We want to stay in the house for our boys for at least 5 more years. Two years after the bankruptcy–but three years after the foreclosure. I checked on the status of the second loan with the collection agency and they said the account had been moved back to Chase/washington mutual which was my original lender for the second loan.

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Since both mortgages are with Chase, can the bank foreclose based on the 2nd mortgage default. So, if you follow this just-don’t-pay-the-second strategy, you know you will never have any equity in your house. Is this part of the process to settling the second mortgage. Should we agree to pay this amount or offer a settlement of maybe .10 on the dollar.

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I filed because I was drowning in debt due to lack of cash flow from investment properties & expenses to cover those properties. She has a minor son who lives with her 50% of the time. It helped your credit score, a little, if the first has been reporting you as current, but now you will have a foreclosure and you’ve trashed your after bankruptcy credit. I don’t think our 1st or 2nd is reporting our payments to the credit bureaus so, I want to stop paying on both and put our house on the market for approx.

I sent a certified letter requesting the loan documents. If I would have been notified earlier that my loan rate would be reduced (it was previously 5.625) I would have tried to stay current knowing that my loan would now help pay off the principal.

I have went as long as six months without paying them before and all they did was send a letter saying it looks like you are have a difficult time paying so we have reset your payment and added the past due to the end of your loan. I was unable to pay the second due to financial hardship. UNLESS your income is strong enough that you can afford both mortgages.